Oppenheimer Holdings Inc. Boosts Littelfuse Inc. (LFUS) Price Target to $145.00
Littelfuse Inc. (NASDAQ:LFUS) had its target price raised by Oppenheimer Holdings Inc. from $138.00 to $145.00 in a report issued on Tuesday morning. The brokerage currently has an outperform rating on the stock.
Other analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Littelfuse from a hold rating to a buy rating and set a $128.00 target price for the company in a research report on Thursday, July 7th. Robert W. Baird boosted their target price on shares of Littelfuse from $128.00 to $132.00 and gave the company an outperform rating in a research report on Friday, August 26th.
Littelfuse (NASDAQ:LFUS) opened at 125.58 on Tuesday. Littelfuse has a one year low of $86.38 and a one year high of $130.40. The stock has a 50 day moving average of $122.88 and a 200-day moving average of $118.69. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 35.39 and a beta of 1.35.
Littelfuse (NASDAQ:LFUS) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.01. Littelfuse had a net margin of 8.66% and a return on equity of 17.48%. The firm earned $271.90 million during the quarter, compared to analyst estimates of $271.13 million. During the same period in the previous year, the business posted $1.33 earnings per share. The business’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, equities analysts predict that Littelfuse will post $5.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Thursday, August 25th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.05%. This is a positive change from Littelfuse’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Tuesday, August 23rd. Littelfuse’s payout ratio is 37.18%.
In other Littelfuse news, insider Mary S. Muchoney sold 1,996 shares of Littelfuse stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $126.75, for a total transaction of $252,993.00. Following the transaction, the insider now owns 3,893 shares of the company’s stock, valued at $493,437.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Deepak Nayar sold 4,237 shares of Littelfuse 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 transaction, the vice president now directly owns 10,137 shares in the company, valued at approximately $1,284,053.79. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio increased its position in shares of Littelfuse by 2.7% in the second quarter. Public Employees Retirement System of Ohio now owns 845 shares of the company’s stock valued at $100,000 after buying an additional 22 shares in the last quarter. Bessemer Group Inc. purchased a new position in shares of Littelfuse during the first quarter valued at $119,000. Invictus RG purchased a new position in shares of Littelfuse during the second quarter valued at $187,000. BlackRock Inc. increased its position in shares of Littelfuse by 108.1% in the first quarter. BlackRock Inc. now owns 1,617 shares of the company’s stock valued at $199,000 after buying an additional 840 shares in the last quarter. Finally, Weatherly Asset Management L. P. increased its position in shares of Littelfuse by 610.0% in the second quarter. Weatherly Asset Management L. P. now owns 14,200 shares of the company’s stock valued at $234,000 after buying an additional 12,200 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.
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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