Littelfuse, Inc. (NASDAQ:LFUS) Stake Maintained by Connable Office Inc.
Connable Office Inc. held its position in Littelfuse, Inc. (NASDAQ:LFUS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,621 shares of the technology company’s stock at the end of the second quarter. Connable Office Inc.’s holdings in Littelfuse were worth $432,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the stock. First Midwest Bank Trust Division raised its position in Littelfuse by 3.3% in the first quarter. First Midwest Bank Trust Division now owns 2,274 shares of the technology company’s stock worth $364,000 after buying an additional 73 shares during the last quarter. Nationwide Fund Advisors raised its position in Littelfuse by 1.0% in the first quarter. Nationwide Fund Advisors now owns 103,886 shares of the technology company’s stock worth $16,612,000 after buying an additional 1,076 shares during the last quarter. First National Bank of Omaha raised its position in Littelfuse by 15.9% in the first quarter. First National Bank of Omaha now owns 27,970 shares of the technology company’s stock worth $4,473,000 after buying an additional 3,847 shares during the last quarter. Bank of America Corp DE raised its position in Littelfuse by 4.9% in the first quarter. Bank of America Corp DE now owns 115,241 shares of the technology company’s stock worth $18,428,000 after buying an additional 5,366 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Littelfuse by 9.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 117,937 shares of the technology company’s stock worth $18,860,000 after buying an additional 10,632 shares during the last quarter. Institutional investors and hedge funds own 96.42% of the company’s stock.
Littelfuse, Inc. (NASDAQ:LFUS) opened at 178.53 on Friday. The company has a 50 day moving average price of $174.87 and a 200 day moving average price of $163.98. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 28.10 and a beta of 0.96. Littelfuse, Inc. has a 52 week low of $116.92 and a 52 week high of $188.60.
Littelfuse (NASDAQ:LFUS) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $2.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.10. The firm had revenue of $313.36 million during 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 firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.44 earnings per share. Analysts expect that Littelfuse, Inc. will post $7.73 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Thursday, August 24th will be issued a dividend of $0.37 per share. This is a boost from Littelfuse’s previous quarterly dividend of $0.33. This represents a $1.48 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Tuesday, August 22nd. Littelfuse’s dividend payout ratio is currently 20.82%.
Littelfuse declared that its board has initiated a stock repurchase program on Wednesday, May 3rd that permits the company to buyback 1,000,000 shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
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A number of equities analysts have weighed in on LFUS shares. BidaskClub upgraded Littelfuse from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Zacks Investment Research lowered Littelfuse from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. One 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 stock has a consensus rating of “Hold” and a consensus price target of $187.40.
In related news, SVP Dieter Roeder sold 8,490 shares of the stock in a transaction dated Tuesday, May 30th. The shares were 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 directly owns 7,143 shares of the company’s stock, valued at $1,164,737.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Matthew Cole sold 150 shares of the stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $169.23, for a total transaction of $25,384.50. Following the transaction, the senior vice president now directly owns 3,985 shares of the company’s stock, valued at $674,381.55. The disclosure for this sale can be found here. Corporate 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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