Littelfuse, Inc. (NASDAQ:LFUS) Stake Increased by Texas Permanent School Fund
Texas Permanent School Fund raised its stake in Littelfuse, Inc. (NASDAQ:LFUS) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,568 shares of the technology company’s stock after buying an additional 181 shares during the period. Texas Permanent School Fund’s holdings in Littelfuse were worth $2,734,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of LFUS. BlackRock Inc. raised its position in Littelfuse by 22,715.7% in the first quarter. BlackRock Inc. now owns 2,254,650 shares of the technology company’s stock valued at $360,542,000 after buying an additional 2,244,768 shares in the last quarter. KAMES CAPITAL plc acquired a new position in Littelfuse during the second quarter valued at $26,593,000. Vaughan Nelson Investment Management L.P. raised its position in Littelfuse by 45.2% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 358,678 shares of the technology company’s stock valued at $59,182,000 after buying an additional 111,675 shares in the last quarter. Fisher Asset Management LLC raised its position in Littelfuse by 22.7% in the first quarter. Fisher Asset Management LLC now owns 587,461 shares of the technology company’s stock valued at $93,941,000 after buying an additional 108,781 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Littelfuse by 4.9% in the first quarter. Vanguard Group Inc. now owns 1,847,598 shares of the technology company’s stock valued at $295,449,000 after buying an additional 85,750 shares in the last quarter. Hedge funds and other institutional investors own 96.42% of the company’s stock.
Shares of Littelfuse, Inc. (LFUS) opened at 182.22 on Tuesday. The stock has a 50 day moving average price of $170.87 and a 200-day moving average price of $162.63. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 28.68 and a beta of 0.96. Littelfuse, Inc. has a one year low of $115.29 and a one year high of $188.19.
Littelfuse (NASDAQ:LFUS) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $2.10 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $2.10. The company had revenue of $313.36 million for the quarter, compared to analysts’ expectations of $312.97 million. Littelfuse had a net margin of 12.51% and a return on equity of 19.67%. The business’s revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.44 EPS. On average, equities research analysts expect that Littelfuse, Inc. will post $7.71 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Thursday, August 24th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Tuesday, August 22nd. This is a boost from Littelfuse’s previous quarterly dividend of $0.33. Littelfuse’s dividend payout ratio is 20.82%.
Littelfuse declared that its board has initiated a share buyback program on Wednesday, May 3rd that authorizes the company to buyback 1,000,000 outstanding shares. This buyback authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
LFUS has been the topic of several recent analyst reports. Zacks Investment Research lowered Littelfuse from a “buy” rating to a “hold” rating in a report on Friday, April 28th. BidaskClub lowered Littelfuse from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $187.40.
In other news, SVP Matthew Cole sold 150 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $169.23, for a total transaction of $25,384.50. Following the transaction, the senior vice president now owns 3,985 shares of the company’s stock, valued at approximately $674,381.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John T. Quille sold 596 shares of the stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $166.01, for a total transaction of $98,941.96. Following the transaction, the vice president now directly owns 1,078 shares in the company, valued at approximately $178,958.78. The disclosure for this sale can be found here. Insiders have sold a total of 9,236 shares of company stock worth $1,508,706 in the last three months. Insiders own 1.80% of the company’s stock.
Littelfuse Company Profile
Littelfuse, Inc is a supplier of circuit protection products for the electronics, automotive and industrial markets. The Company operates through three segments. The Electronics segment provides circuit protection components for overcurrent and overvoltage protection, as well as sensor components and modules to manufacturers of a range of electronic products.
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