Zions Bancorporation N.A. Increases Stake in Littelfuse, Inc. (NASDAQ:LFUS)

Zions Bancorporation N.A. grew its position in Littelfuse, Inc. (NASDAQ:LFUS) by 17.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,463 shares of the technology company’s stock after acquiring an additional 822 shares during the quarter. Zions Bancorporation N.A.’s holdings in Littelfuse were worth $1,449,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC raised its stake in shares of Littelfuse by 399.7% in the second quarter. SG Americas Securities LLC now owns 4,712 shares of the technology company’s stock valued at $1,204,000 after acquiring an additional 3,769 shares during the period. Vanguard Group Inc. increased its stake in Littelfuse by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 2,679,767 shares of the technology company’s stock worth $649,442,000 after buying an additional 17,119 shares during the period. Sei Investments Co. increased its stake in Littelfuse by 8.9% in the 1st quarter. Sei Investments Co. now owns 40,897 shares of the technology company’s stock worth $9,910,000 after buying an additional 3,343 shares during the period. Edgestream Partners L.P. purchased a new position in Littelfuse in the 1st quarter worth about $2,454,000. Finally, Quadrature Capital Ltd increased its stake in Littelfuse by 66.7% in the 1st quarter. Quadrature Capital Ltd now owns 28,113 shares of the technology company’s stock worth $6,817,000 after buying an additional 11,247 shares during the period. Hedge funds and other institutional investors own 96.14% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on LFUS shares. StockNews.com raised shares of Littelfuse from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Oppenheimer upgraded shares of Littelfuse from a “market perform” rating to an “outperform” rating and set a $310.00 price target on the stock in a report on Thursday, October 17th. Robert W. Baird lifted their target price on shares of Littelfuse from $300.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Stifel Nicolaus upgraded shares of Littelfuse from a “hold” rating to a “buy” rating and lifted their target price for the stock from $270.00 to $280.00 in a research note on Tuesday, August 13th. Finally, Benchmark reiterated a “hold” rating on shares of Littelfuse in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $285.00.

Littelfuse Stock Performance

LFUS opened at $249.30 on Friday. The company has a current ratio of 3.55, a quick ratio of 2.52 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $6.19 billion, a PE ratio of 32.04, a P/E/G ratio of 2.49 and a beta of 1.28. The firm has a 50 day moving average of $255.64 and a two-hundred day moving average of $256.32. Littelfuse, Inc. has a 12-month low of $222.91 and a 12-month high of $275.58.

Littelfuse (NASDAQ:LFUS) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.62. Littelfuse had a net margin of 8.88% and a return on equity of 8.49%. The firm had revenue of $567.39 million for the quarter, compared to analysts’ expectations of $557.38 million. During the same quarter last year, the company earned $2.97 EPS. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. On average, analysts anticipate that Littelfuse, Inc. will post 8.47 EPS for the current year.

Littelfuse Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 annualized dividend and a yield of 1.12%. Littelfuse’s dividend payout ratio (DPR) is currently 35.99%.

Insiders Place Their Bets

In related news, CEO David W. Heinzmann sold 2,091 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $274.65, for a total value of $574,293.15. Following the completion of the transaction, the chief executive officer now directly owns 59,654 shares of the company’s stock, valued at $16,383,971.10. This represents a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Matthew Cole sold 1,436 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $246.02, for a total value of $353,284.72. Following the completion of the sale, the senior vice president now directly owns 5,522 shares of the company’s stock, valued at $1,358,522.44. The trade was a 20.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,242 shares of company stock worth $3,318,974 over the last three months. Company insiders own 2.30% of the company’s stock.

Littelfuse Company Profile

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.