Littelfuse Inc. (LFUS) Upgraded by Zacks Investment Research to Buy
Littelfuse Inc. (NASDAQ:LFUS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm currently has a $144.00 target price on the stock. Zacks Investment Research’s target price suggests 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 equities analysts have also commented on the company. Oppenheimer Holdings Inc. boosted their price target on Littelfuse from $138.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 13th. Robert W. Baird lifted their price objective on Littelfuse from $128.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, August 26th.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/13/littelfuse-inc-lfus-upgraded-by-zacks-investment-research-to-buy.html
Littelfuse (NASDAQ:LFUS) traded up 0.60% during mid-day trading on Thursday, hitting $128.46. 123,222 shares of the company were exchanged. Littelfuse has a 12 month low of $90.61 and a 12 month high of $130.79. The firm has a 50 day moving average price of $126.62 and a 200 day moving average price of $120.04. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 36.21 and a beta of 1.29.
Littelfuse (NASDAQ:LFUS) last released its quarterly earnings results on Thursday, August 4th. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.43 by $0.01. The firm had revenue of $271.90 million for the quarter, compared to analyst estimates of $271.13 million. Littelfuse had a return on equity of 17.48% and a net margin of 8.66%. Littelfuse’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.33 EPS. Analysts anticipate that Littelfuse will post $5.52 EPS for the current fiscal year.
In other news, insider Mary S. Muchoney sold 1,996 shares of the business’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $126.75, for a total transaction of $252,993.00. Following the sale, the insider now directly 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 can be accessed through the SEC website. Also, SVP Ian Highley sold 1,313 shares of the business’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $127.07, for a total value of $166,842.91. Following the sale, the senior vice president now directly owns 5,628 shares in the company, valued at $715,149.96. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
Several large investors have recently made changes to their positions in LFUS. Aperio Group LLC raised its stake in shares of Littelfuse by 6.6% in the first quarter. Aperio Group LLC now owns 5,237 shares of the company’s stock worth $645,000 after buying an additional 322 shares during the period. Nisa Investment Advisors L.L.C. raised its stake in shares of Littelfuse by 43.9% in the first quarter. Nisa Investment Advisors L.L.C. now owns 9,500 shares of the company’s stock worth $1,170,000 after buying an additional 2,900 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Littelfuse by 3.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 6,363 shares of the company’s stock worth $783,000 after buying an additional 225 shares during the period. Ngam Advisors L.P. raised its stake in shares of Littelfuse by 29.8% in the first quarter. Ngam Advisors L.P. now owns 17,643 shares of the company’s stock worth $2,172,000 after buying an additional 4,055 shares during the period. Finally, Prudential Financial Inc. raised its stake in shares of Littelfuse by 13.8% in the first quarter. Prudential Financial Inc. now owns 60,620 shares of the company’s stock worth $7,463,000 after buying an additional 7,340 shares during the period. 98.34% of the stock is currently owned by institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Littelfuse Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Littelfuse Inc. and related companies with MarketBeat.com's FREE daily email newsletter.