Zacks Investment Research Upgrades Littelfuse (NASDAQ:LFUS) to “Hold”

Littelfuse (NASDAQ:LFUSGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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. “

Other research analysts also recently issued research reports about the stock. StockNews.com started coverage on shares of Littelfuse in a report on Thursday, March 31st. They set a “hold” rating on the stock. Robert W. Baird decreased their target price on shares of Littelfuse from $325.00 to $307.00 in a research report on Thursday, February 3rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $314.50.

Shares of LFUS opened at $235.45 on Wednesday. The company has a market capitalization of $5.81 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 1.37 and a beta of 1.20. Littelfuse has a one year low of $223.31 and a one year high of $334.84. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.92 and a quick ratio of 1.90. The company’s fifty day moving average price is $243.11 and its 200 day moving average price is $276.73.

Littelfuse (NASDAQ:LFUSGet Rating) last announced its earnings results on Tuesday, May 3rd. The technology company reported $4.99 EPS for the quarter, topping the consensus estimate of $3.24 by $1.75. Littelfuse had a net margin of 13.65% and a return on equity of 18.48%. The firm had revenue of $623.30 million for the quarter, compared to the consensus estimate of $573.74 million. During the same quarter last year, the firm posted $2.67 EPS. The business’s quarterly revenue was up 34.4% on a year-over-year basis. Analysts anticipate that Littelfuse will post 13.94 earnings per share for the current year.

In other Littelfuse news, Director William P. Noglows sold 832 shares of the business’s stock in a transaction dated Tuesday, February 8th. The shares were sold at an average price of $256.31, for a total value of $213,249.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.40% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Alliancebernstein L.P. lifted its position in shares of Littelfuse by 1.4% during the third quarter. Alliancebernstein L.P. now owns 836,249 shares of the technology company’s stock worth $228,522,000 after purchasing an additional 11,682 shares in the last quarter. Impax Asset Management Group plc lifted its position in shares of Littelfuse by 12.0% during the third quarter. Impax Asset Management Group plc now owns 823,932 shares of the technology company’s stock worth $224,195,000 after purchasing an additional 88,432 shares in the last quarter. Mairs & Power Inc. lifted its position in shares of Littelfuse by 3.7% during the fourth quarter. Mairs & Power Inc. now owns 802,624 shares of the technology company’s stock worth $252,570,000 after purchasing an additional 28,783 shares in the last quarter. Invesco Ltd. raised its stake in shares of Littelfuse by 4.4% during the fourth quarter. Invesco Ltd. now owns 771,396 shares of the technology company’s stock worth $242,742,000 after buying an additional 32,613 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Littelfuse by 1.4% during the fourth quarter. State Street Corp now owns 616,646 shares of the technology company’s stock worth $194,046,000 after buying an additional 8,274 shares during the last quarter. Institutional investors own 95.22% of the company’s stock.

Littelfuse Company Profile (Get Rating)

Littelfuse, Inc manufactures and sells circuit protection, power control, and sensing products in the Asia-Pacific, the Americas, and Europe. The company's 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.

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