Arizona State Retirement System Grows Position in Littelfuse, Inc. (NASDAQ:LFUS)

Posted by Defense World Staff on Jul 21st, 2023

Arizona State Retirement System raised its holdings in Littelfuse, Inc. (NASDAQ:LFUS – Free Report) by 2.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,172 shares of the technology company’s stock after acquiring an additional 187 shares during the period. Arizona State Retirement System’s holdings in Littelfuse were worth $1,923,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in shares of Littelfuse in the 1st quarter valued at about $33,000. Parallel Advisors LLC raised its holdings in shares of Littelfuse by 45.3% in the 1st quarter. Parallel Advisors LLC now owns 138 shares of the technology company’s stock valued at $37,000 after acquiring an additional 43 shares in the last quarter. CoreCap Advisors LLC purchased a new stake in shares of Littelfuse in the 4th quarter valued at about $44,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Littelfuse by 33.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 201 shares of the technology company’s stock valued at $44,000 after acquiring an additional 50 shares in the last quarter. Finally, Trifecta Capital Advisors LLC purchased a new stake in shares of Littelfuse in the 4th quarter valued at about $66,000. Hedge funds and other institutional investors own 95.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Stifel Nicolaus boosted their target price on Littelfuse from $240.00 to $265.00 in a research report on Thursday, May 4th. Robert W. Baird boosted their target price on Littelfuse from $260.00 to $285.00 in a research report on Thursday, May 11th. Finally, StockNews.com assumed coverage on Littelfuse in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Six analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $259.00.

Insider Activity

In other news, CAO Jeffrey G. Gorski sold 700 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $270.15, for a total transaction of $189,105.00. Following the transaction, the chief accounting officer now directly owns 2,713 shares of the company’s stock, valued at $732,916.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Deepak Nayar sold 6,792 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $259.54, for a total value of $1,762,795.68. Following the sale, the senior vice president now directly owns 4,264 shares of the company’s stock, valued at $1,106,678.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Jeffrey G. Gorski sold 700 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $270.15, for a total value of $189,105.00. Following the completion of the sale, the chief accounting officer now directly owns 2,713 shares in the company, valued at $732,916.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,525 shares of company stock valued at $2,474,621. Company insiders own 2.70% of the company’s stock.

Littelfuse Price Performance

Shares of Littelfuse stock opened at $298.32 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.70 and a quick ratio of 1.62. The business’s 50 day simple moving average is $276.88 and its two-hundred day simple moving average is $262.78. The stock has a market capitalization of $7.41 billion, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 1.88 and a beta of 1.27. Littelfuse, Inc. has a one year low of $192.19 and a one year high of $309.94.

Littelfuse (NASDAQ:LFUS – Get Free Report) last announced its quarterly earnings results on Tuesday, May 2nd. The technology company reported $3.64 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.79. The business had revenue of $609.78 million for the quarter, compared to analysts’ expectations of $592.51 million. Littelfuse had a return on equity of 17.92% and a net margin of 13.78%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $4.99 EPS. Analysts forecast that Littelfuse, Inc. will post 13.57 EPS for the current year.

Littelfuse Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 8th. Stockholders of record on Thursday, May 25th were paid a dividend of $0.60 per share. The ex-dividend date was Wednesday, May 24th. This represents a $2.40 annualized dividend and a dividend yield of 0.80%. Littelfuse’s dividend payout ratio (DPR) is presently 17.42%.

Littelfuse Company Profile

(Free Report)

Littelfuse, Inc manufactures and sells circuit protection, power control, and sensing products in the Asia-Pacific, the Americas, and Europe. The company operates through Electronic, Transportation, and Industrial segments. The 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.