Littelfuse (NASDAQ:LFUS) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Littelfuse (NASDAQ:LFUSGet Rating) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday morning, Zacks.com reports. They currently have $296.00 target price on the technology company’s stock.

According to Zacks, “Littelfuse is the preferred brand for leading manufacturers around the world, with more than 40 sales, manufacturing and engineering facilities and a global network of distribution channels. Littelfuse products are vital components in virtually every market that uses electrical energy, from consumer electronics to automobiles, commercial vehicles and industrial equipment. They are also expanding into adjacent markets that complement their core business including power distribution centers for mining operations, generator controls and protection for marine applications, heavy-duty switches for commercial vehicles and electromechanical sensors used in the automotive industry. “

A number of other analysts have also recently weighed in on LFUS. Robert W. Baird reduced their price objective on shares of Littelfuse from $325.00 to $307.00 in a research note on Thursday, February 3rd. StockNews.com began coverage on shares of Littelfuse in a research note on Thursday, March 31st. They issued a hold rating for the company. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Littelfuse currently has a consensus rating of Buy and an average target price of $305.75.

NASDAQ LFUS opened at $264.99 on Tuesday. The company has a quick ratio of 2.32, a current ratio of 3.61 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $6.56 billion, a PE ratio of 19.24, a price-to-earnings-growth ratio of 1.32 and a beta of 1.20. The company has a 50 day moving average price of $243.76 and a two-hundred day moving average price of $274.89. Littelfuse has a 12-month low of $223.31 and a 12-month high of $334.84.

Littelfuse (NASDAQ:LFUSGet Rating) last posted its earnings results on Tuesday, May 3rd. The technology company reported $4.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.24 by $1.75. The firm had revenue of $623.30 million during the quarter, compared to analysts’ expectations of $573.74 million. Littelfuse had a net margin of 15.34% and a return on equity of 20.75%. The company’s revenue was up 34.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.67 earnings per share. As a group, equities analysts anticipate that Littelfuse will post 16.66 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 9th. Investors of record on Thursday, May 26th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Wednesday, May 25th. Littelfuse’s dividend payout ratio (DPR) is currently 15.40%.

In related news, SVP Deepak Nayar sold 4,873 shares of the business’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $255.26, for a total transaction of $1,243,881.98. Following the transaction, the senior vice president now owns 8,077 shares of the company’s stock, valued at $2,061,735.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in LFUS. Norges Bank bought a new stake in Littelfuse in the 4th quarter valued at $78,425,000. Credit Suisse AG increased its holdings in Littelfuse by 638.9% in the 3rd quarter. Credit Suisse AG now owns 170,508 shares of the technology company’s stock valued at $46,594,000 after buying an additional 147,433 shares during the period. Vulcan Value Partners LLC increased its holdings in Littelfuse by 54.7% in the 3rd quarter. Vulcan Value Partners LLC now owns 273,100 shares of the technology company’s stock valued at $74,630,000 after buying an additional 96,516 shares during the period. Impax Asset Management Group plc increased its holdings in Littelfuse by 12.0% in the 3rd quarter. Impax Asset Management Group plc now owns 823,932 shares of the technology company’s stock valued at $224,195,000 after buying an additional 88,432 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in Littelfuse in the 1st quarter valued at $15,738,000. 95.22% of the stock is currently owned by hedge funds and other institutional investors.

About Littelfuse (Get Rating)

Littelfuse, Inc manufactures and sells circuit protection, power control, and sensing products in the Asia-Pacific, the Americas, and Europe. The company's Electronics segment offers fuses and fuse accessories, positive temperature coefficient resettable fuses, 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.

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