Pictet Asset Management Ltd. Cuts Position in Littelfuse, Inc. (NASDAQ:LFUS)

Pictet Asset Management Ltd. lessened its stake in Littelfuse, Inc. (NASDAQ:LFUS) by 66.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,803 shares of the technology company’s stock after selling 236,600 shares during the quarter. Pictet Asset Management Ltd. owned 0.50% of Littelfuse worth $21,597,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Doyle Wealth Management purchased a new position in shares of Littelfuse in the 2nd quarter valued at about $35,000. Stonebridge Capital Advisors LLC purchased a new position in shares of Littelfuse in the 2nd quarter valued at about $106,000. Parallel Advisors LLC increased its holdings in shares of Littelfuse by 22.1% in the 2nd quarter. Parallel Advisors LLC now owns 734 shares of the technology company’s stock valued at $130,000 after purchasing an additional 133 shares in the last quarter. First Bank & Trust increased its holdings in shares of Littelfuse by 9.0% in the 2nd quarter. First Bank & Trust now owns 1,014 shares of the technology company’s stock valued at $179,000 after purchasing an additional 84 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new position in shares of Littelfuse in the 2nd quarter valued at about $193,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

In other Littelfuse news, SVP Michael P. Rutz sold 200 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $183.81, for a total transaction of $36,762.00. Following the sale, the senior vice president now directly owns 6,446 shares of the company’s stock, valued at approximately $1,184,839.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Deepak Nayar sold 2,264 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $183.96, for a total transaction of $416,485.44. Following the sale, the senior vice president now directly owns 5,766 shares in the company, valued at $1,060,713.36. The disclosure for this sale can be found here. Insiders have sold a total of 5,385 shares of company stock worth $982,838 over the last ninety days. 3.50% of the stock is owned by corporate insiders.

A number of equities analysts have recently issued reports on the stock. BidaskClub upgraded shares of Littelfuse from a “buy” rating to a “strong-buy” rating in a report on Thursday. Oppenheimer downgraded shares of Littelfuse from an “outperform” rating to a “market perform” rating in a report on Thursday, October 31st. Cowen dropped their target price on shares of Littelfuse from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Jefferies Financial Group assumed coverage on shares of Littelfuse in a report on Thursday, October 3rd. They set a “buy” rating and a $215.00 target price for the company. Finally, ValuEngine upgraded shares of Littelfuse from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $201.00.

NASDAQ:LFUS opened at $181.41 on Friday. The company has a current ratio of 4.05, a quick ratio of 3.09 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $182.85 and a two-hundred day moving average price of $173.24. Littelfuse, Inc. has a twelve month low of $149.80 and a twelve month high of $206.00. The company has a market capitalization of $4.50 billion, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05.

Littelfuse (NASDAQ:LFUS) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.55 by $0.23. Littelfuse had a net margin of 9.51% and a return on equity of 12.62%. The firm had revenue of $362.00 million during the quarter, compared to the consensus estimate of $372.14 million. During the same period last year, the firm posted $2.49 EPS. The firm’s revenue for the quarter was down 17.6% on a year-over-year basis. On average, equities research analysts predict that Littelfuse, Inc. will post 6.8 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.48 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.92 annualized dividend and a dividend yield of 1.06%. Littelfuse’s dividend payout ratio is currently 20.34%.

Littelfuse Company Profile

Littelfuse, Inc designs, manufactures, and sells circuit protection, power control, and sensing products worldwide. The company's Electronics segment offers fuses and fuse accessories, positive temperature coefficient resettable fuses, polymer electrostatic discharge suppressors, varistors, magnetic sensing products, and gas discharge tubes; and discrete transient voltage suppressor (TVS) diodes, TVS diode arrays, protection and switching thyristors, silicon carbide, metal-oxide-semiconductor field-effect transistors, and silicon carbide diodes, as well as insulated gate bipolar transistors.

Further Reading: What is Considered a Good Return on Equity (ROE)?

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Institutional Ownership by Quarter for Littelfuse (NASDAQ:LFUS)

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