Littelfuse, Inc. $LFUS Stock: ProShare Advisors LLC Reduces Stake

ProShare Advisors LLC decreased its position in shares of Littelfuse, Inc. (NASDAQ:LFUS) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,837 shares of the technology company’s stock after selling 1,699 shares during the quarter. ProShare Advisors LLC owned 0.33% of Littelfuse worth $35,101,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in LFUS. BlackRock Inc. purchased a new position in Littelfuse in the 2nd quarter worth approximately $1,148,821,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Littelfuse during the 2nd quarter valued at $185,057,000. William Blair Investment Management LLC bought a new stake in shares of Littelfuse in the 2nd quarter worth $146,471,000. Bank of America Corp DE bought a new stake in shares of Littelfuse in the 2nd quarter worth $115,306,000. Finally, Jupiter Topco LLC bought a new stake in shares of Littelfuse in the 2nd quarter worth $94,552,000. Hedge funds and other institutional investors own 96.14% of the company’s stock.

Analysts Set New Price Targets

LFUS has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Littelfuse in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $520.00 price objective on shares of Littelfuse in a research report on Wednesday, October 28th. Zacks Research downgraded Littelfuse from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Finally, Oppenheimer reissued an “outperform” rating on shares of Littelfuse in a research report on Thursday. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $465.83.

Insider Transactions at Littelfuse

In other Littelfuse news, SVP David Ruppel sold 1,493 shares of the company’s stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $404.57, for a total transaction of $604,023.01. Following the completion of the sale, the senior vice president directly owned 4,720 shares of the company’s stock, valued at approximately $1,909,570.40. This represents a 24.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Littelfuse Price Performance

Littelfuse stock opened at $393.08 on Monday. Littelfuse, Inc. has a one year low of $233.36 and a one year high of $500.57. The stock has a fifty day moving average of $409.60 and a 200 day moving average of $398.87. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.01 and a current ratio of 2.67. The stock has a market cap of $9.98 billion, a PE ratio of 322.20, a price-to-earnings-growth ratio of 1.78 and a beta of 1.50.

Littelfuse (NASDAQ:LFUS) last announced its earnings results on Wednesday, October 28th. The technology company reported $5.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.82. The business had revenue of $795.20 million for the quarter, compared to analysts’ expectations of $792.49 million. Littelfuse had a return on equity of 15.86% and a net margin of 1.37%. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period last year, the firm posted $2.77 earnings per share. As a group, sell-side analysts predict that Littelfuse, Inc. will post 18.37 EPS for the current year.

Littelfuse Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 19th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, November 19th. Littelfuse’s payout ratio is 262.30%.

Littelfuse Profile

Littelfuse, Inc is a diversified industrial technology company that develops and manufactures products designed to protect, control and sense electrical energy. Its portfolio includes fuses and other circuit-protection devices, power semiconductor products, relays, switches, sensors and related electronic components.

The company serves customers in the automotive, commercial vehicle, industrial, electronics, energy and communications markets. Its products are used in applications such as vehicle electrification, battery systems, industrial equipment, power distribution, renewable energy systems, data infrastructure and consumer electronics.