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Top Quartile Ranked Dividend Stock LLTC Becomes Oversold

By Dividend Channel Staff, Thursday, May 31, 11:37 AM ET
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The DividendRank formula at Dividend Channel ranks a coverage universe of thousands of dividend stocks, according to a proprietary formula designed to identify those stocks that combine two important characteristics strong fundamentals and a valuation that looks inexpensive. Linear Technology Corp. (NASDAQ:LLTC) presently has an excellent rank, in the top 25% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors.

But making Linear Technology Corp. an even more interesting and timely stock to look at, is the fact that in trading on Thursday, shares of LLTC entered into oversold territory, changing hands as low as $28.679 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

In the case of Linear Technology Corp., the RSI reading has hit 26.8 by comparison, the universe of dividend stocks covered by Dividend Channel currently has an average RSI of 43.2. A falling stock price all else being equal creates a better opportunity for dividend investors to capture a higher yield. Indeed, LLTC's recent annualized dividend of 1.00/share (currently paid in quarterly installments) works out to an annual yield of 3.44% based upon the recent $29.11 share price.

A bullish investor could look at LLTC's 26.8 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on LLTC is its dividend history. In general, dividends are not always predictable; but, looking at the history chart below can help in judging whether the most recent dividend is likely to continue.

LLTC Dividend History
Date Div*
05/16/12 0.250
02/15/12 0.250
11/16/11 0.240
08/17/11 0.240
05/18/11 0.240
02/16/11 0.240
11/09/10 0.230
08/11/10 0.230
05/12/10 0.230
02/10/10 0.230
11/10/09 0.220
08/12/09 0.220
05/13/09 0.220
02/11/09 0.220
11/12/08 0.210
08/13/08 0.210
05/14/08 0.210
02/13/08 0.210
11/14/07 0.180
08/08/07 0.180
04/25/07 0.180
01/24/07 0.180
10/25/06 0.150
08/02/06 0.150
04/26/06 0.150
01/25/06 0.150
10/26/05 0.100
08/03/05 0.100
04/27/05 0.100
01/26/05 0.100
10/20/04 0.080
07/28/04 0.080
04/21/04 0.080
01/21/04 0.080
10/22/03 0.060
07/30/03 0.060
04/23/03 0.060
01/22/03 0.050
10/23/02 0.050
07/31/02 0.050
04/24/02 0.050
01/23/02 0.040
10/24/01 0.040
08/01/01 0.040
04/25/01 0.040
01/24/01 0.030
10/25/00 0.030
08/02/00 0.030
04/26/00 0.030
01/26/00 0.020
10/20/99 0.020
07/28/99 0.020
04/21/99 0.020
01/20/99 0.018
10/21/98 0.018
07/29/98 0.018
04/22/98 0.015
01/21/98 0.015
10/22/97 0.015
07/30/97 0.015
04/23/97 0.013
01/22/97 0.013
10/23/96 0.013
07/31/96 0.013
04/24/96 0.010
01/24/96 0.010
10/25/95 0.010
08/02/95 0.010
* Data may be adjusted for splits; we are not responsible for data errors; always verify data with the company.

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According to the ETF Finder at ETF Channel, LLTC makes up 8.63% of the First Trust NASDAQ Clean Edge Green Energy Index Fund ETF (NASDAQ:QCLN) which is trading lower by about 3% on the day Thursday.

See what other ETFs contain LLTC
See what other stocks are held by QCLN

This Article's Word Cloud:   Channel   Corp   Dividend   Index   LLTC   Linear   Management   QCLN   Technology   Thursday   afterLeftLabels   always   below   better   bullish   changing   chartBackgroundColor   coverage   currently   data   dividend   escape   fillColor   formula   heavy   history   interesting   investors   judging   look   markets   most   movingAverages   other   oversold   price   reading   recent   share   stock   stocks   technical   territory   that   trading   universe   what   which   with   yield

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