Littelfuse (LFUS) Rating Increased to Hold at Zacks Investment Research
Littelfuse (NASDAQ:LFUS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
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. “
LFUS has been the topic of a number of other reports. ValuEngine lowered Littelfuse from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. BidaskClub lowered Littelfuse from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. CL King set a $248.00 price target on Littelfuse and gave the company a “buy” rating in a research note on Tuesday, September 25th. Finally, Barrington Research reissued a “hold” rating on shares of Littelfuse in a research note on Monday, October 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Littelfuse currently has an average rating of “Hold” and an average target price of $252.50.
Littelfuse (NASDAQ:LFUS) last announced its quarterly earnings results on Wednesday, October 31st. The technology company reported $2.49 EPS for the quarter, beating the Zacks’ consensus estimate of $2.40 by $0.09. Littelfuse had a return on equity of 17.35% and a net margin of 7.47%. The firm had revenue of $439.20 million for the quarter, compared to analyst estimates of $441.62 million. During the same period last year, the firm posted $2.12 earnings per share. The business’s revenue for the quarter was up 38.2% on a year-over-year basis. On average, sell-side analysts predict that Littelfuse will post 9.57 earnings per share for the current fiscal year.
In other news, Director Nathan Zommer sold 13,741 shares of the firm’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $222.38, for a total transaction of $3,055,723.58. Following the completion of the transaction, the director now directly owns 475,419 shares in the company, valued at $105,723,677.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey G. Gorski sold 351 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $227.12, for a total value of $79,719.12. Following the transaction, the insider now owns 3,124 shares of the company’s stock, valued at $709,522.88. The disclosure for this sale can be found here. Insiders have sold 15,034 shares of company stock valued at $3,344,436 over the last 90 days. 3.80% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of LFUS. US Bancorp DE increased its holdings in Littelfuse by 137.0% in the second quarter. US Bancorp DE now owns 10,597 shares of the technology company’s stock worth $2,417,000 after purchasing an additional 6,126 shares in the last quarter. SG Americas Securities LLC increased its holdings in Littelfuse by 59.3% in the second quarter. SG Americas Securities LLC now owns 6,995 shares of the technology company’s stock worth $1,596,000 after purchasing an additional 2,604 shares in the last quarter. Giverny Capital Inc. increased its holdings in Littelfuse by 6,792.5% in the second quarter. Giverny Capital Inc. now owns 104,973 shares of the technology company’s stock worth $23,953,000 after purchasing an additional 103,450 shares in the last quarter. Zacks Investment Management bought a new stake in Littelfuse in the second quarter worth approximately $3,218,000. Finally, State of Alaska Department of Revenue increased its holdings in Littelfuse by 18.2% in the third quarter. State of Alaska Department of Revenue now owns 2,872 shares of the technology company’s stock worth $568,000 after purchasing an additional 442 shares in the last quarter. Institutional investors own 97.92% of the company’s stock.
Littelfuse, Inc designs, manufactures, and sells circuit protection products worldwide. The company's Electronics segment offers fuses and fuse accessories, positive temperature coefficient resettable fuses, polymer electrostatic discharge suppressors, varistors, and gas discharge tubes; and semiconductor and power semiconductor products, such as 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.
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