Pictet Asset Management Ltd. Has $42.03 Million Position in Littelfuse, Inc. (LFUS)
Pictet Asset Management Ltd. increased its stake in shares of Littelfuse, Inc. (NASDAQ:LFUS) by 5.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 259,500 shares of the technology company’s stock after buying an additional 14,500 shares during the period. Pictet Asset Management Ltd.’s holdings in Littelfuse were worth $42,026,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of LFUS. BlackRock Inc. boosted its stake in shares of 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 bought a new stake in shares of Littelfuse during the second quarter valued at $26,593,000. Vaughan Nelson Investment Management L.P. boosted its stake in shares of 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 boosted its stake in shares of 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. boosted its stake in shares of 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. Institutional investors own 96.42% of the company’s stock.
Littelfuse, Inc. (NASDAQ:LFUS) opened at 182.90 on Wednesday. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 28.79 and a beta of 0.96. Littelfuse, Inc. has a 52-week low of $116.17 and a 52-week high of $188.60. The firm’s 50-day moving average price is $172.65 and its 200-day moving average price is $163.10.
Littelfuse (NASDAQ:LFUS) last announced its earnings results on Wednesday, August 2nd. The technology company reported $2.10 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.10. Littelfuse had a return on equity of 19.67% and a net margin of 12.51%. The business had revenue of $313.36 million during the quarter, compared to analyst estimates of $312.97 million. During the same quarter in the previous year, the business earned $1.44 earnings per share. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, equities analysts anticipate that Littelfuse, Inc. will post $7.73 EPS for the current year.
Littelfuse declared that its Board of Directors has initiated a stock buyback plan on Wednesday, May 3rd that allows the company to buyback 1,000,000 shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Thursday, August 24th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Tuesday, August 22nd. This is a positive change from Littelfuse’s previous quarterly dividend of $0.33. Littelfuse’s payout ratio is 20.82%.
Several equities research analysts recently weighed in on LFUS shares. Zacks Investment Research cut Littelfuse from a “buy” rating to a “hold” rating in a report on Friday, April 28th. BidaskClub cut Littelfuse from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Finally, Robert W. Baird restated a “positive” rating and set a $195.00 target price (up from $187.00) on shares of Littelfuse in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $187.40.
In other Littelfuse news, SVP Dieter Roeder sold 8,490 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $163.06, for a total transaction of $1,384,379.40. Following the completion of the transaction, the senior vice president now owns 7,143 shares in the company, valued at $1,164,737.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Matthew Cole sold 150 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $169.23, for a total value 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 disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.
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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