Littelfuse (LFUS) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Littelfuse (NASDAQ:LFUS) from a hold rating to a buy rating in a research report released on Wednesday morning. They currently have $233.00 price objective on the technology company’s stock.
According to Zacks, “Littelfuse is the preferred brand for leading manufacturers around the world, with more than 40 sales, manufacturing and engineering facilities and a global network of distribution channels. Littelfuse products are vital components in virtually every market that uses electrical energy, from consumer electronics to automobiles, commercial vehicles and industrial equipment. They are also expanding into adjacent markets that complement their core business including power distribution centers for mining operations, generator controls and protection for marine applications, heavy-duty switches for commercial vehicles and electromechanical sensors used in the automotive industry. “
Other analysts have also recently issued reports about the company. BidaskClub raised Littelfuse from a hold rating to a buy rating in a research report on Thursday, January 18th. ValuEngine raised Littelfuse from a hold rating to a buy rating in a research report on Thursday, March 1st. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Littelfuse has an average rating of Buy and an average price target of $212.00.
Littelfuse (NASDAQ:LFUS) last posted its quarterly earnings data on Wednesday, January 31st. The technology company reported $1.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.13. The business had revenue of $304.85 million for the quarter, compared to analysts’ expectations of $299.88 million. Littelfuse had a return on equity of 19.65% and a net margin of 9.78%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.57 EPS. equities research analysts anticipate that Littelfuse will post 8.53 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 8th. Stockholders of record on Thursday, February 22nd were given a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.67%. Littelfuse’s dividend payout ratio is currently 28.52%.
In other news, SVP Michael P. Rutz sold 2,417 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $215.01, for a total value of $519,679.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David W. Heinzmann sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $209.90, for a total value of $1,049,500.00. Following the completion of the sale, the chief executive officer now directly owns 40,941 shares in the company, valued at $8,593,515.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,389 shares of company stock worth $10,632,283. Insiders own 1.80% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Littelfuse by 3.4% in the 4th quarter. BlackRock Inc. now owns 2,388,492 shares of the technology company’s stock worth $472,492,000 after purchasing an additional 78,797 shares in the last quarter. Wells Fargo & Company MN lifted its position in Littelfuse by 18.8% in the 3rd quarter. Wells Fargo & Company MN now owns 704,892 shares of the technology company’s stock valued at $138,074,000 after acquiring an additional 111,483 shares in the last quarter. Eagle Asset Management Inc. lifted its position in Littelfuse by 15.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 472,595 shares of the technology company’s stock valued at $92,378,000 after acquiring an additional 64,770 shares in the last quarter. TimesSquare Capital Management LLC lifted its position in Littelfuse by 67.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 369,205 shares of the technology company’s stock valued at $73,036,000 after acquiring an additional 149,200 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its position in Littelfuse by 139.6% in the 4th quarter. OppenheimerFunds Inc. now owns 351,587 shares of the technology company’s stock valued at $69,550,000 after acquiring an additional 204,842 shares in the last quarter. 93.74% of the stock is currently owned by hedge funds and other institutional investors.
Littelfuse Company Profile
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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