Littelfuse Inc. (LFUS) Stock Rating Upgraded by Zacks Investment Research
Littelfuse Inc. (NASDAQ:LFUS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm presently has a $144.00 price target on the stock. Zacks Investment Research’s target price points to a potential upside of 11.32% from the stock’s previous close.
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. “
Several other equities analysts have also recently commented on the stock. Oppenheimer Holdings Inc. raised their target price on shares of Littelfuse from $138.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, September 13th. Robert W. Baird raised their target price on shares of Littelfuse from $128.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, August 26th.
Littelfuse (NASDAQ:LFUS) opened at 129.36 on Thursday. The stock has a 50 day moving average of $126.74 and a 200-day moving average of $120.11. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 36.46 and a beta of 1.29. Littelfuse has a 52-week low of $90.61 and a 52-week high of $130.79.
Littelfuse (NASDAQ:LFUS) last released its earnings results on Thursday, August 4th. The company reported $1.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.01. The firm had revenue of $271.90 million for the quarter, compared to analysts’ expectations of $271.13 million. Littelfuse had a net margin of 8.66% and a return on equity of 17.48%. Littelfuse’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter last year, the company earned $1.33 EPS. On average, analysts expect that Littelfuse will post $5.52 EPS for the current year.
In related news, VP Deepak Nayar sold 4,237 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $126.67, for a total transaction of $536,700.79. Following the completion of the sale, the vice president now directly owns 10,137 shares in the company, valued at $1,284,053.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mary S. Muchoney sold 1,996 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $126.75, for a total transaction of $252,993.00. Following the sale, the insider now owns 3,893 shares of the company’s stock, valued at $493,437.75. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of LFUS. First National Bank of Omaha boosted its stake in shares of Littelfuse by 1.2% in the third quarter. First National Bank of Omaha now owns 22,040 shares of the company’s stock worth $2,839,000 after buying an additional 270 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in shares of Littelfuse by 89.9% in the third quarter. Eagle Asset Management Inc. now owns 266,243 shares of the company’s stock worth $34,294,000 after buying an additional 126,069 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Littelfuse by 18.2% in the third quarter. Fisher Asset Management LLC now owns 427,873 shares of the company’s stock worth $55,114,000 after buying an additional 66,035 shares during the last quarter. Eqis Capital Management Inc. boosted its stake in shares of Littelfuse by 6.3% in the third quarter. Eqis Capital Management Inc. now owns 3,909 shares of the company’s stock worth $504,000 after buying an additional 233 shares during the last quarter. Finally, Mason Street Advisors LLC acquired a new stake in shares of Littelfuse during the second quarter worth $518,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.
Littelfuse, Inc is a supplier of circuit protection products for the electronics, automotive and electrical industries. The Company operates through three segments: Electronics, Automotive and Industrial. Its Electronics segment provides circuit protection components to manufacturers of a range of electronic products, including mobile phones, computers, liquid-crystal-display televisions, telecommunications equipment, medical devices, lighting products and white goods.
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