Zacks Investment Research downgraded shares of Littelfuse, Inc. (NASDAQ:LFUS) from a buy rating to a hold rating in a research note published on Wednesday.
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. “
Separately, BidaskClub lowered Littelfuse from a sell rating to a strong sell rating in a research report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Littelfuse currently has an average rating of Hold and a consensus price target of $162.25.
Littelfuse (NASDAQ LFUS) traded down 0.54% during trading on Wednesday, reaching $168.03. The company had a trading volume of 49,818 shares. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 30.88 and a beta of 0.94. The company’s 50-day moving average is $163.40 and its 200 day moving average is $158.88. Littelfuse has a 52 week low of $114.76 and a 52 week high of $173.13.
Littelfuse (NASDAQ:LFUS) last issued its quarterly earnings data on Wednesday, May 3rd. The technology company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.05. The company had revenue of $285.44 million during the quarter, compared to analyst estimates of $284.95 million. Littelfuse had a return on equity of 18.47% and a net margin of 11.06%. The firm’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.38 earnings per share. Equities analysts anticipate that Littelfuse will post $7.18 EPS for the current year.
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In other news, SVP Matthew Cole sold 150 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $169.23, for a total transaction of $25,384.50. Following the completion of the transaction, the senior vice president now directly owns 3,985 shares in the company, valued at $674,381.55. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Deepak Nayar sold 9,545 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $164.58, for a total value of $1,570,916.10. Following the transaction, the senior vice president now owns 5,141 shares of the company’s stock, valued at $846,105.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,781 shares of company stock valued at $3,079,622. Company insiders own 1.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Littelfuse by 22,715.7% in the first quarter. BlackRock Inc. now owns 2,254,650 shares of the technology company’s stock worth $360,542,000 after buying an additional 2,244,768 shares during the period. Norges Bank bought a new position in Littelfuse during the fourth quarter worth about $29,414,000. KAMES CAPITAL plc bought a new position in Littelfuse during the second quarter worth about $26,593,000. Fisher Asset Management LLC raised its position in Littelfuse by 22.7% in the first quarter. Fisher Asset Management LLC now owns 587,461 shares of the technology company’s stock worth $93,941,000 after buying an additional 108,781 shares during the period. Finally, Vanguard Group Inc. raised its position in Littelfuse by 4.9% in the first quarter. Vanguard Group Inc. now owns 1,847,598 shares of the technology company’s stock worth $295,449,000 after buying an additional 85,750 shares during the period. Hedge funds and other institutional investors own 95.20% of the company’s stock.
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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