Summit Securities Group LLC Buys New Position in Littelfuse, Inc. (LFUS)
Summit Securities Group LLC bought a new stake in Littelfuse, Inc. (NASDAQ:LFUS) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,302 shares of the technology company’s stock, valued at approximately $215,000.
A number of other large investors also recently modified their holdings of LFUS. Teachers Advisors LLC boosted its position in Littelfuse by 14.6% in the fourth quarter. Teachers Advisors LLC now owns 41,044 shares of the technology company’s stock valued at $6,229,000 after buying an additional 5,237 shares during the last quarter. Capstone Asset Management Co. boosted its position in Littelfuse by 8.0% in the first quarter. Capstone Asset Management Co. now owns 2,559 shares of the technology company’s stock valued at $409,000 after buying an additional 190 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in Littelfuse by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 5,700 shares of the technology company’s stock valued at $911,000 after buying an additional 100 shares during the last quarter. Retirement Systems of Alabama boosted its position in Littelfuse by 0.4% in the first quarter. Retirement Systems of Alabama now owns 29,218 shares of the technology company’s stock valued at $4,672,000 after buying an additional 122 shares during the last quarter. Finally, Covenant Asset Management LLC boosted its position in Littelfuse by 33.7% in the first quarter. Covenant Asset Management LLC now owns 7,282 shares of the technology company’s stock valued at $1,164,000 after buying an additional 1,834 shares during the last quarter. 96.42% of the stock is currently owned by hedge funds and other institutional investors.
Littelfuse, Inc. (NASDAQ:LFUS) opened at 181.03 on Friday. Littelfuse, Inc. has a 1-year low of $116.97 and a 1-year high of $188.60. The stock has a 50 day moving average price of $175.43 and a 200 day moving average price of $164.21. The company has a market cap of $4.11 billion, a PE ratio of 28.49 and a beta of 0.96.
Littelfuse (NASDAQ:LFUS) last issued its quarterly earnings data 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 firm had revenue of $313.36 million during the quarter, compared to the consensus estimate of $312.97 million. During the same quarter in the previous year, the company posted $1.44 EPS. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. Equities analysts forecast that Littelfuse, Inc. will post $7.73 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Thursday, August 24th will be given a $0.37 dividend. This is an increase from Littelfuse’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, August 22nd. This represents a $1.48 annualized dividend and a yield of 0.82%. Littelfuse’s payout ratio is presently 20.82%.
Littelfuse announced that its board has authorized a share repurchase program on Wednesday, May 3rd that permits the company to buyback 1,000,000 shares. This buyback authorization permits the technology company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Several research analysts have recently issued reports on LFUS shares. Zacks Investment Research cut Littelfuse from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. BidaskClub cut Littelfuse from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Finally, Oppenheimer Holdings, Inc. increased their price target on Littelfuse from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The company 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 business’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $169.23, for a total transaction of $25,384.50. Following the completion of the sale, the senior vice president now owns 3,985 shares in the company, valued at $674,381.55. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Dieter Roeder sold 8,490 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $163.06, for a total value of $1,384,379.40. Following the sale, the senior vice president now owns 7,143 shares of the company’s stock, valued at approximately $1,164,737.58. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.
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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