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Analyses of range and precision are important for high-level synthesis and verification of fixed-point circuits. Conventional range and precision analysis methods mostly focus on combinational arithmetic circuits and suffer from major inefficiencies when dealing with sequential linear-time-invariant circuits. Such problems mainly include inability to analyze precision when quantization of constant coefficients is taken into account, and lacking efficient word-length optimization algorithms to handle both variables and constants, while satisfying the error metrics. The algorithms presented in this paper solve these problems. Experiments illustrate the efficiency and robustness of our algorithms.