Verition Fund Management LLC bought a new position in Littelfuse, Inc. (NASDAQ:LFUS – Get Rating) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,500 shares of the technology company’s stock, valued at approximately $497,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Macquarie Group Ltd. raised its holdings in shares of Littelfuse by 608.8% in the 2nd quarter. Macquarie Group Ltd. now owns 116,620 shares of the technology company’s stock valued at $29,626,000 after purchasing an additional 100,168 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Littelfuse by 15.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 739,890 shares of the technology company’s stock valued at $187,962,000 after purchasing an additional 99,652 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Littelfuse by 583.4% in the 2nd quarter. Lazard Asset Management LLC now owns 107,492 shares of the technology company’s stock valued at $27,307,000 after purchasing an additional 91,762 shares during the period. Wedge Capital Management L L P NC bought a new stake in shares of Littelfuse in the 3rd quarter valued at about $18,042,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Littelfuse by 25.8% in the 3rd quarter. Victory Capital Management Inc. now owns 375,161 shares of the technology company’s stock valued at $74,541,000 after purchasing an additional 76,883 shares during the period. 94.69% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on LFUS shares. Jefferies Financial Group upped their price target on shares of Littelfuse from $254.00 to $295.00 in a research note on Tuesday, November 22nd. Robert W. Baird upped their price target on shares of Littelfuse from $258.00 to $270.00 in a research note on Friday, February 3rd. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Littelfuse has an average rating of “Hold” and a consensus target price of $246.20.
Littelfuse Stock Performance
Shares of NASDAQ:LFUS opened at $269.07 on Tuesday. The company’s 50 day moving average price is $251.96 and its two-hundred day moving average price is $233.50. Littelfuse, Inc. has a 12-month low of $192.19 and a 12-month high of $281.78. The firm has a market cap of $6.67 billion, a PE ratio of 18.01, a PEG ratio of 1.73 and a beta of 1.26. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.39.
Littelfuse (NASDAQ:LFUS – Get Rating) last announced its earnings results on Wednesday, February 1st. The technology company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $0.10. Littelfuse had a net margin of 14.85% and a return on equity of 20.18%. The firm had revenue of $613.25 million for the quarter, compared to analyst estimates of $613.85 million. During the same quarter in the prior year, the business posted $3.16 EPS. The business’s revenue was up 10.9% compared to the same quarter last year. Equities research analysts predict that Littelfuse, Inc. will post 13.18 earnings per share for the current year.
Littelfuse Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 9th. Shareholders of record on Thursday, February 23rd will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, February 22nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.89%. Littelfuse’s payout ratio is presently 16.06%.
Insiders Place Their Bets
In related news, CFO Meenal Sethna sold 3,478 shares of the stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $251.40, for a total transaction of $874,369.20. Following the sale, the chief financial officer now owns 17,717 shares in the company, valued at approximately $4,454,053.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director William P. Noglows sold 1,200 shares of the stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $264.36, for a total transaction of $317,232.00. Following the sale, the director now owns 16,926 shares in the company, valued at approximately $4,474,557.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Meenal Sethna sold 3,478 shares of the stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $251.40, for a total transaction of $874,369.20. Following the sale, the chief financial officer now owns 17,717 shares in the company, valued at approximately $4,454,053.80. The disclosure for this sale can be found here. Insiders have sold a total of 5,513 shares of company stock worth $1,415,081 in the last quarter. Corporate insiders own 2.40% of the company’s stock.
Littelfuse Company Profile
Littelfuse, Inc engages in the manufacture of technologies in circuit protection, power control and sensing. It operates through the following segments: Electronics, Transportation, and Industrial. The Electronics segment covers a broad range of end markets, including industrial motor drives and power conversion, automotive electronics, electric vehicle and related infrastructure, power supplies, data centers and telecommunications, medical devices, alternative energy and energy storage, building and home automation, appliances, and mobile electronics.
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