Littelfuse (NASDAQ:LFUS) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Littelfuse (NASDAQ:LFUS) from a sell rating to a hold rating in a research report report published on Wednesday, Zacks.com reports.

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 research analysts also recently issued reports on the stock. BidaskClub upgraded shares of Littelfuse from a hold rating to a buy rating in a research report on Thursday, September 12th. Cowen restated an outperform rating and set a $200.00 target price (down from $210.00) on shares of Littelfuse in a research report on Thursday, August 1st. ValuEngine upgraded shares of Littelfuse from a hold rating to a buy rating in a research report on Tuesday, September 10th. Finally, Robert W. Baird downgraded shares of Littelfuse from an outperform rating to a neutral rating and decreased their target price for the company from $193.00 to $171.00 in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of Buy and a consensus price target of $201.83.

NASDAQ LFUS opened at $179.15 on Wednesday. The company has a market capitalization of $4.40 billion, a PE ratio of 18.98, a P/E/G ratio of 2.32 and a beta of 1.08. The company has a fifty day moving average of $167.19 and a 200 day moving average of $175.73. Littelfuse has a 1 year low of $149.80 and a 1 year high of $206.00. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.90 and a quick ratio of 2.95.

Littelfuse (NASDAQ:LFUS) last posted its earnings results on Wednesday, July 31st. The technology company reported $1.91 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.91. The company had revenue of $397.00 million during the quarter, compared to the consensus estimate of $397.98 million. Littelfuse had a net margin of 10.15% and a return on equity of 13.82%. The firm’s quarterly revenue was down 13.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.68 earnings per share. Research analysts expect that Littelfuse will post 6.77 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were given a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.07%. This is an increase from Littelfuse’s previous quarterly dividend of $0.43. Littelfuse’s dividend payout ratio is 20.34%.

Several institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue raised its position in shares of Littelfuse by 57.4% in the third quarter. State of Alaska Department of Revenue now owns 4,386 shares of the technology company’s stock worth $777,000 after acquiring an additional 1,599 shares during the period. Atria Investments LLC acquired a new position in shares of Littelfuse in the second quarter worth about $972,000. Treasurer of the State of North Carolina raised its position in shares of Littelfuse by 17.8% in the second quarter. Treasurer of the State of North Carolina now owns 11,767 shares of the technology company’s stock worth $2,082,000 after acquiring an additional 1,782 shares during the period. Cresset Asset Management LLC raised its position in shares of Littelfuse by 273.0% in the second quarter. Cresset Asset Management LLC now owns 1,257 shares of the technology company’s stock worth $222,000 after acquiring an additional 920 shares during the period. Finally, Royal Bank of Canada raised its position in shares of Littelfuse by 2.2% in the second quarter. Royal Bank of Canada now owns 84,117 shares of the technology company’s stock worth $14,881,000 after acquiring an additional 1,790 shares during the period. Institutional investors and hedge funds own 99.78% of the company’s stock.

Littelfuse Company Profile

Littelfuse, Inc designs, manufactures, and sells circuit protection, power control, and sensing products worldwide. The company's Electronics segment offers fuses and fuse accessories, positive temperature coefficient resettable fuses, polymer electrostatic discharge suppressors, varistors, magnetic sensing products, and gas discharge tubes; and discrete transient voltage suppressor (TVS) diodes, TVS diode arrays, protection and switching thyristors, silicon carbide, metal-oxide-semiconductor field-effect transistors, and silicon carbide diodes, as well as insulated gate bipolar transistors.

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