Littelfuse Inc. (LFUS) Stock Rating Upgraded by Zacks Investment Research
Littelfuse Inc. (NASDAQ:LFUS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $144.00 price target on the stock. Zacks Investment Research’s target price would indicate a potential upside of 12.10% from the stock’s current price.
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. “
Several other analysts also recently weighed in on the company. Oppenheimer Holdings Inc. boosted their price objective on Littelfuse from $138.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, September 13th. Robert W. Baird boosted their target price on Littelfuse from $128.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, August 26th.
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Shares of Littelfuse (NASDAQ:LFUS) traded up 0.60% during trading on Thursday, reaching $128.46. The company’s stock had a trading volume of 123,222 shares. The stock’s 50 day moving average is $126.62 and its 200 day moving average is $120.04. The firm has a market cap of $2.88 billion, a P/E ratio of 36.21 and a beta of 1.29. Littelfuse has a one year low of $90.61 and a one year high of $130.79.
Littelfuse (NASDAQ:LFUS) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.01. Littelfuse had a return on equity of 17.48% and a net margin of 8.66%. The firm earned $271.90 million during the quarter, compared to the consensus estimate of $271.13 million. During the same quarter in the previous year, the company posted $1.33 earnings per share. The business’s revenue was up 22.5% on a year-over-year basis. On average, equities analysts forecast that Littelfuse will post $5.52 EPS for the current fiscal year.
In other Littelfuse news, COO David W. Heinzmann sold 9,400 shares of the company’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $127.00, for a total value of $1,193,800.00. Following the completion of the sale, the chief operating officer now owns 28,960 shares in the company, valued at $3,677,920. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Ian Highley sold 1,313 shares of the company’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $127.07, for a total value of $166,842.91. Following the completion of the sale, the senior vice president now owns 5,628 shares of the company’s stock, valued at approximately $715,149.96. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its stake 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 worth $100,000 after buying an additional 22 shares during the last quarter. Bessemer Group Inc. bought a new stake in shares of Littelfuse during the first quarter worth approximately $119,000. Invictus RG bought a new stake in shares of Littelfuse during the second quarter worth approximately $187,000. BlackRock Inc. boosted its stake in shares of Littelfuse by 108.1% in the first quarter. BlackRock Inc. now owns 1,617 shares of the company’s stock worth $199,000 after buying an additional 840 shares during the last quarter. Finally, Weatherly Asset Management L. P. boosted its stake 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 worth $234,000 after buying an additional 12,200 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.
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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