Zacks Investment Research upgraded shares of Littelfuse, Inc. (NASDAQ:LFUS) from a hold rating to a buy rating in a research report sent to investors on Friday morning. The firm currently has $193.00 target price 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 Littelfuse from a sell rating to a hold rating in a research report on Thursday, July 13th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $163.50.
Littelfuse (NASDAQ LFUS) traded up 7.43% during mid-day trading on Friday, hitting $184.53. 158,128 shares of the company were exchanged. The firm has a 50 day moving average price of $163.40 and a 200 day moving average price of $158.88. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 33.91 and a beta of 0.94. Littelfuse has a 12 month low of $114.76 and a 12 month high of $185.72.
Littelfuse (NASDAQ:LFUS) last released its quarterly earnings results on Wednesday, May 3rd. The technology company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.64 by $0.05. The firm had revenue of $285.44 million for the quarter, compared to analyst estimates of $284.95 million. Littelfuse had a return on equity of 18.47% and a net margin of 11.06%. Littelfuse’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.38 EPS. Analysts anticipate 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 share buyback plan on Wednesday, May 3rd that permits the company to repurchase 1,000,000 shares. This repurchase authorization permits the technology company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
In other news, SVP Dieter Roeder sold 8,490 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $163.06, for a total value of $1,384,379.40. Following the completion of the sale, the senior vice president now directly owns 7,143 shares in the company, valued at approximately $1,164,737.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Deepak Nayar sold 9,545 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were 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 owns 5,141 shares of the company’s stock, valued at $846,105.78. The disclosure for this sale can be found here. Insiders sold a total of 18,781 shares of company stock valued at $3,079,622 over the last quarter. Company insiders own 1.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can increased its position in shares of Littelfuse by 15.1% in the second quarter. Bank of Montreal Can now owns 649 shares of the technology company’s stock worth $107,000 after buying an additional 85 shares during the last quarter. World Asset Management Inc increased its position in shares of Littelfuse by 2.4% in the first quarter. World Asset Management Inc now owns 1,393 shares of the technology company’s stock worth $223,000 after buying an additional 32 shares during the last quarter. Miles Capital Inc. increased its position in shares of Littelfuse by 1.8% in the first quarter. Miles Capital Inc. now owns 1,510 shares of the technology company’s stock worth $241,000 after buying an additional 26 shares during the last quarter. Forward Management LLC increased its position in shares of Littelfuse by 6.4% in the first quarter. Forward Management LLC now owns 1,674 shares of the technology company’s stock worth $268,000 after buying an additional 100 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of Littelfuse by 63.6% in the first quarter. Asset Management One Co. Ltd. now owns 1,723 shares of the technology company’s stock worth $276,000 after buying an additional 670 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.
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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