Commerce Bank Increases Stake in Littelfuse, Inc. (NASDAQ:LFUS)

by · The Markets Daily

Commerce Bank increased its holdings in Littelfuse, Inc. (NASDAQ:LFUS – Free Report) by 6.9% in the first quarter, Holdings Channel reports. The fund owned 4,097 shares of the technology company’s stock after purchasing an additional 265 shares during the quarter. Commerce Bank’s holdings in Littelfuse were worth $806,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LFUS. Oppenheimer Asset Management Inc. lifted its position in shares of Littelfuse by 1.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,142 shares of the technology company’s stock worth $1,208,000 after purchasing an additional 69 shares during the period. Treasurer of the State of North Carolina lifted its holdings in Littelfuse by 0.7% during the fourth quarter. Treasurer of the State of North Carolina now owns 10,733 shares of the technology company’s stock worth $2,529,000 after buying an additional 70 shares during the period. Fifth Third Bancorp lifted its holdings in Littelfuse by 30.5% during the first quarter. Fifth Third Bancorp now owns 325 shares of the technology company’s stock worth $64,000 after buying an additional 76 shares during the period. Snowden Capital Advisors LLC boosted its position in Littelfuse by 0.5% during the 4th quarter. Snowden Capital Advisors LLC now owns 16,413 shares of the technology company’s stock valued at $3,868,000 after acquiring an additional 86 shares in the last quarter. Finally, Global X Japan Co. Ltd. increased its holdings in shares of Littelfuse by 33.5% in the 1st quarter. Global X Japan Co. Ltd. now owns 347 shares of the technology company’s stock valued at $68,000 after acquiring an additional 87 shares during the period. Hedge funds and other institutional investors own 96.14% of the company’s stock.

Littelfuse Price Performance

Shares of NASDAQ LFUS opened at $251.60 on Wednesday. Littelfuse, Inc. has a 52 week low of $142.10 and a 52 week high of $275.56. The company has a quick ratio of 2.98, a current ratio of 4.06 and a debt-to-equity ratio of 0.30. The firm has a market cap of $6.23 billion, a P/E ratio of 52.42, a P/E/G ratio of 2.17 and a beta of 1.41. The business’s 50 day moving average price is $228.48 and its 200 day moving average price is $214.77.

Littelfuse (NASDAQ:LFUS – Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $0.50. The firm had revenue of $613.41 million for the quarter, compared to analyst estimates of $571.04 million. Littelfuse had a net margin of 5.30% and a return on equity of 9.74%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.97 earnings per share. On average, sell-side analysts expect that Littelfuse, Inc. will post 9.49 earnings per share for the current year.

Littelfuse Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.2%. This is a positive change from Littelfuse’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, August 21st. Littelfuse’s dividend payout ratio is 58.33%.

Analyst Ratings Changes

LFUS has been the subject of a number of analyst reports. Robert W. Baird upped their price objective on Littelfuse from $182.00 to $194.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Oppenheimer lowered their price target on shares of Littelfuse from $310.00 to $275.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Wall Street Zen upgraded shares of Littelfuse from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Benchmark restated a “hold” rating on shares of Littelfuse in a research note on Wednesday, May 28th. Finally, Baird R W cut Littelfuse from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.67.

View Our Latest Analysis on Littelfuse

Littelfuse Company Profile

(Free Report)

Littelfuse, Inc designs, manufactures, and sells electronic components, modules, and subassemblies in the Americas, Asia-Pacific, and Europe. The company operates through Electronic, Transportation, and Industrial segments. The Electronics segment offers fuses and fuse accessories, positive temperature coefficient resettable fuses, electromechanical switches and interconnect solutions, polymer electrostatic discharge suppressors, varistors, reed switch based magnetic sensing products, and gas discharge tubes; and discrete transient voltage suppressor (TVS) diodes, TVS diode arrays, protection and switching thyristors, metal-oxide-semiconductor field-effect transistors and diodes, and insulated gate bipolar transistors.

Further Reading

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