Littelfuse, Inc. (NASDAQ:LFUS)‘s stock had its “hold” rating reaffirmed by analysts at Stifel Nicolaus in a report released on Friday. They currently have a $175.00 price objective on the technology company’s stock, up from their previous price objective of $165.00. Stifel Nicolaus’ price objective would suggest a potential downside of 5.10% from the stock’s current price.
Several other research analysts also recently commented on LFUS. Zacks Investment Research downgraded Littelfuse from a “hold” rating to a “sell” rating in a research note on Tuesday, April 11th. BidaskClub downgraded Littelfuse from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $187.40.
Shares of Littelfuse (LFUS) traded up 0.08% on Friday, reaching $184.54. The company’s stock had a trading volume of 13,294 shares. The firm’s 50-day moving average price is $167.37 and its 200-day moving average price is $160.81. Littelfuse has a 12 month low of $114.76 and a 12 month high of $188.19. The stock has a market cap of $4.19 billion, a P/E ratio of 33.92 and a beta of 0.94.
Littelfuse (NASDAQ:LFUS) last issued its 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. Littelfuse had a return on equity of 18.47% and a net margin of 11.06%. The business had revenue of $285.44 million during the quarter, compared to the consensus estimate of $284.95 million. During the same quarter last year, the company earned $1.38 EPS. The firm’s revenue was up 30.1% compared to the same quarter last year. On average, analysts forecast that Littelfuse will post $7.47 earnings per share for the current fiscal year.
Littelfuse announced that its Board of Directors has initiated a share buyback plan on Wednesday, May 3rd that allows the company to buyback 1,000,000 shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
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In other news, SVP Deepak Nayar sold 9,545 shares of Littelfuse stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $164.58, for a total transaction of $1,570,916.10. Following the completion of the sale, the senior vice president now owns 5,141 shares in the company, valued at approximately $846,105.78. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Matthew Cole sold 150 shares of Littelfuse stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $169.23, for a total value of $25,384.50. Following the sale, the senior vice president now owns 3,985 shares of the company’s stock, valued at approximately $674,381.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,781 shares of company stock valued at $3,079,622. Corporate insiders own 1.80% of the company’s stock.
Several hedge funds have recently modified their holdings of LFUS. Bank of Montreal Can boosted 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 in the last quarter. World Asset Management Inc boosted 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 in the last quarter. Miles Capital Inc. boosted 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 in the last quarter. Forward Management LLC boosted 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 in the last quarter. Finally, Asset Management One Co. Ltd. boosted 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 in 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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