Zacks Investment Research upgraded shares of Littelfuse, Inc. (NASDAQ:LFUS) from a hold rating to a buy rating in a research report report published on Friday. The firm currently has $193.00 price objective on the technology company’s stock.
According to Zacks, “Littelfuse, Inc. is a leading manufacturer and seller of fuses and other circuit protection devices for use in the electronic, automotive and general industrial markets. In addition to its Des Plaines, Illinois, world headquarters, Littelfuse has manufacturing facilities in England, Ireland, Switzerland, Mexico, Korea, China and the Philippines, as well as in Centralia and Arcola, Illinois. It also has sales, engineering and distribution facilities in the Netherlands, Singapore, Hong Kong, Taiwan, Japan, Brazil and Livonia, Michigan. “
Separately, BidaskClub raised shares of Littelfuse from a sell rating to a hold rating in a report on Thursday, July 13th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $163.50.
Shares of Littelfuse (NASDAQ:LFUS) traded up 6.914% on Friday, reaching $183.635. 199,677 shares of the company traded hands. The company has a market capitalization of $4.17 billion, a PE ratio of 33.750 and a beta of 0.94. The firm has a 50-day moving average price of $163.40 and a 200 day moving average price of $158.88. Littelfuse has a one year low of $114.76 and a one year high of $185.72.
Littelfuse (NASDAQ:LFUS) last announced its quarterly earnings results on Wednesday, May 3rd. The technology company reported $1.69 EPS for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.05. The business had revenue of $285.44 million during the quarter, compared to analyst estimates of $284.95 million. Littelfuse had a net margin of 11.06% and a return on equity of 18.47%. Littelfuse’s quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.38 EPS. Equities analysts forecast that Littelfuse will post $7.20 EPS for the current fiscal year.
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Littelfuse announced that its Board of Directors has authorized a stock buyback plan on Wednesday, May 3rd that authorizes the company to buyback 1,000,000 outstanding shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
In other Littelfuse news, SVP Matthew Cole sold 150 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $169.23, for a total value of $25,384.50. Following the completion of the sale, the senior vice president now owns 3,985 shares of the company’s stock, valued at $674,381.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Deepak Nayar sold 9,545 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $164.58, for a total value of $1,570,916.10. Following the completion of the sale, the senior vice president now directly owns 5,141 shares of the company’s stock, valued at approximately $846,105.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,781 shares of company stock worth $3,079,622. Company insiders own 1.80% of the company’s stock.
A number of hedge funds have recently modified their holdings of LFUS. Sawgrass Asset Management LLC raised its stake in shares of Littelfuse by 24.9% in the first quarter. Sawgrass Asset Management LLC now owns 6,765 shares of the technology company’s stock valued at $1,082,000 after buying an additional 1,350 shares in the last quarter. Dubuque Bank & Trust Co. raised its stake in Littelfuse by 2,932.3% in the first quarter. Dubuque Bank & Trust Co. now owns 1,971 shares of the technology company’s stock worth $315,000 after buying an additional 1,906 shares during the period. Fisher Asset Management LLC raised its stake in Littelfuse by 22.7% in the first quarter. Fisher Asset Management LLC now owns 587,461 shares of the technology company’s stock worth $93,941,000 after buying an additional 108,781 shares during the period. Nationwide Fund Advisors raised its stake in Littelfuse by 1.0% in the first quarter. Nationwide Fund Advisors now owns 103,886 shares of the technology company’s stock worth $16,612,000 after buying an additional 1,076 shares during the period. Finally, Covenant Asset Management LLC raised its stake in Littelfuse by 33.7% in the first quarter. Covenant Asset Management LLC now owns 7,282 shares of the technology company’s stock worth $1,164,000 after buying an additional 1,834 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.
About Littelfuse
Littelfuse, Inc is a supplier of circuit protection products for the electronics, automotive and industrial markets. The Company operates through three segments. The Electronics segment provides circuit protection components for overcurrent and overvoltage protection, as well as sensor components and modules to manufacturers of a range of electronic products.
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