Lebenthal Lisanti Capital Growth LLC reduced its position in shares of Littelfuse, Inc. (NASDAQ:LFUS) by 14.7% during the second quarter, Holdings Channel reports. The firm owned 5,965 shares of the technology company’s stock after selling 1,025 shares during the period. Lebenthal Lisanti Capital Growth LLC’s holdings in Littelfuse were worth $984,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in LFUS. Northwestern Mutual Investment Management Company LLC raised its position in Littelfuse by 0.4% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 3,900 shares of the technology company’s stock worth $624,000 after buying an additional 17 shares during the period. Miles Capital Inc. raised its position in 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 period. First Midwest Bank Trust Division raised its position in Littelfuse by 1.4% in the second quarter. First Midwest Bank Trust Division now owns 2,305 shares of the technology company’s stock worth $380,000 after buying an additional 31 shares during the period. World Asset Management Inc raised its position in 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 period. Finally, M&T Bank Corp raised its position in Littelfuse by 2.9% in the first quarter. M&T Bank Corp now owns 2,517 shares of the technology company’s stock worth $403,000 after buying an additional 70 shares during the period. Institutional investors own 96.35% of the company’s stock.
Shares of Littelfuse, Inc. (NASDAQ LFUS) opened at 182.36 on Friday. Littelfuse, Inc. has a 12 month low of $114.76 and a 12 month high of $188.19. The firm’s 50-day moving average is $170.87 and its 200 day moving average is $162.63. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 28.70 and a beta of 0.96.
Littelfuse (NASDAQ:LFUS) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $2.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.10. Littelfuse had a net margin of 12.51% and a return on equity of 19.67%. The business had revenue of $313.36 million during the quarter, compared to analyst estimates of $312.97 million. During the same period last year, the firm posted $1.44 EPS. The company’s revenue was up 15.2% on a year-over-year basis. Equities analysts expect that Littelfuse, Inc. will post $7.71 EPS for the current year.
Littelfuse announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 3rd that authorizes the company to buyback 1,000,000 shares. This buyback authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Thursday, August 24th will be issued a dividend of $0.37 per share. This is a positive change from Littelfuse’s previous quarterly dividend of $0.33. This represents a $1.48 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Tuesday, August 22nd. Littelfuse’s dividend payout ratio (DPR) is 20.82%.
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A number of research firms have recently commented on LFUS. Oppenheimer Holdings, Inc. raised their price objective on shares of Littelfuse from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, July 19th. Stifel Nicolaus restated a “hold” rating and issued a $175.00 price objective (up from $165.00) on shares of Littelfuse in a research report on Friday, July 21st. Zacks Investment Research lowered shares of Littelfuse from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub upgraded shares of Littelfuse from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, Robert W. Baird restated a “positive” rating and issued a $195.00 price objective (up from $187.00) on shares of Littelfuse in a research report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Littelfuse presently has an average rating of “Hold” and an average target price of $187.40.
In other Littelfuse news, SVP Matthew Cole sold 150 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $169.23, for a total transaction of $25,384.50. Following the completion of the sale, the senior vice president now directly owns 3,985 shares of the company’s stock, valued at approximately $674,381.55. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Dieter Roeder sold 8,490 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $163.06, for a total transaction of $1,384,379.40. Following the sale, the senior vice president now directly owns 7,143 shares of the company’s stock, valued at $1,164,737.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,781 shares of company stock valued at $3,079,622. Insiders own 1.80% 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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