Littelfuse, Inc. (NASDAQ:LFUS – Get Rating) – Equities research analysts at Jefferies Financial Group upped their Q2 2023 earnings per share estimates for Littelfuse in a report issued on Sunday, January 22nd. Jefferies Financial Group analyst D. Kelley now anticipates that the technology company will post earnings of $3.49 per share for the quarter, up from their prior estimate of $3.46. The consensus estimate for Littelfuse’s current full-year earnings is $16.77 per share. Jefferies Financial Group also issued estimates for Littelfuse’s Q3 2023 earnings at $3.56 EPS and FY2023 earnings at $13.51 EPS.
A number of other research analysts have also weighed in on LFUS. Cowen lowered Littelfuse from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $295.00 to $225.00 in a report on Thursday, November 3rd. Stifel Nicolaus lowered their target price on Littelfuse from $270.00 to $216.00 and set a “hold” rating on the stock in a report on Monday, October 10th. StockNews.com started coverage on Littelfuse in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Cowen lowered Littelfuse from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $295.00 to $225.00 in a report on Thursday, November 3rd. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Littelfuse has a consensus rating of “Hold” and a consensus target price of $241.20.
Littelfuse Trading Up 0.7 %
Littelfuse (NASDAQ:LFUS – Get Rating) last announced its quarterly earnings data on Tuesday, November 1st. The technology company reported $4.28 earnings per share for the quarter, topping analysts’ consensus estimates of $3.81 by $0.47. Littelfuse had a return on equity of 20.76% and a net margin of 13.53%. The firm had revenue of $658.88 million for the quarter, compared to analyst estimates of $638.13 million.
Littelfuse Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 8th. Investors of record on Thursday, November 24th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Tuesday, November 22nd. Littelfuse’s payout ratio is currently 18.07%.
Insider Activity at Littelfuse
In related news, SVP Matthew Cole sold 900 shares of the stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $219.28, for a total transaction of $197,352.00. Following the sale, the senior vice president now owns 5,174 shares of the company’s stock, valued at $1,134,554.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Matthew Cole sold 900 shares of the stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $219.28, for a total transaction of $197,352.00. Following the transaction, the senior vice president now directly owns 5,174 shares in the company, valued at $1,134,554.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jeffrey G. Gorski sold 300 shares of the stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $236.14, for a total value of $70,842.00. Following the transaction, the chief accounting officer now owns 2,563 shares in the company, valued at $605,226.82. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
Hedge Funds Weigh In On Littelfuse
Several large investors have recently added to or reduced their stakes in the business. Pinebridge Investments L.P. purchased a new position in shares of Littelfuse in the 2nd quarter worth about $25,000. Allworth Financial LP raised its holdings in shares of Littelfuse by 11,300.0% in the 2nd quarter. Allworth Financial LP now owns 114 shares of the technology company’s stock worth $29,000 after purchasing an additional 113 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Littelfuse by 370.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 127 shares of the technology company’s stock worth $31,000 after purchasing an additional 100 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Littelfuse in the 1st quarter worth about $33,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Littelfuse by 77.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 176 shares of the technology company’s stock worth $45,000 after purchasing an additional 77 shares during the period. 94.69% of the stock is currently owned by hedge funds and other institutional investors.
Littelfuse, Inc engages in the manufacture of technologies in circuit protection, power control and sensing. It operates through the following segments: Electronics, Transportation, and Industrial. The Electronics segment covers a broad range of end markets, including industrial motor drives and power conversion, automotive electronics, electric vehicle and related infrastructure, power supplies, data centers and telecommunications, medical devices, alternative energy and energy storage, building and home automation, appliances, and mobile electronics.
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