Prospector Partners LLC Raises Stock Holdings in Littelfuse, Inc. (NASDAQ:LFUS)

Prospector Partners LLC raised its holdings in shares of Littelfuse, Inc. (NASDAQ:LFUS) by 14.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,311 shares of the technology company’s stock after acquiring an additional 10,381 shares during the period. Littelfuse makes up about 2.3% of Prospector Partners LLC’s portfolio, making the stock its 12th biggest position. Prospector Partners LLC owned about 0.33% of Littelfuse worth $21,833,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LFUS. SG Americas Securities LLC boosted its position in Littelfuse by 399.7% during the second quarter. SG Americas Securities LLC now owns 4,712 shares of the technology company’s stock worth $1,204,000 after purchasing an additional 3,769 shares in the last quarter. Chesapeake Capital Corp IL purchased a new stake in Littelfuse in the 3rd quarter worth $570,000. Thrivent Financial for Lutherans raised its position in Littelfuse by 1.4% during the third quarter. Thrivent Financial for Lutherans now owns 278,158 shares of the technology company’s stock worth $73,781,000 after acquiring an additional 3,831 shares during the period. Victory Capital Management Inc. lifted its holdings in Littelfuse by 13.2% during the second quarter. Victory Capital Management Inc. now owns 501,504 shares of the technology company’s stock valued at $128,179,000 after purchasing an additional 58,529 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in shares of Littelfuse by 3.4% in the second quarter. Federated Hermes Inc. now owns 209,976 shares of the technology company’s stock valued at $53,668,000 after purchasing an additional 6,814 shares during the period. 96.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LFUS. Robert W. Baird raised their price target on shares of Littelfuse from $300.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Stifel Nicolaus raised Littelfuse from a “hold” rating to a “buy” rating and lifted their price target for the stock from $270.00 to $280.00 in a research note on Tuesday, August 13th. TD Cowen increased their price objective on Littelfuse from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. StockNews.com raised shares of Littelfuse from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Finally, Oppenheimer upgraded shares of Littelfuse from a “market perform” rating to an “outperform” rating and set a $310.00 target price for the company in a research report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $285.00.

Insider Buying and Selling

In other news, SVP Matthew Cole sold 1,436 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $246.02, for a total value of $353,284.72. Following the transaction, the senior vice president now owns 5,522 shares of the company’s stock, valued at $1,358,522.44. This represents a 20.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.30% of the stock is currently owned by company insiders.

Littelfuse Stock Up 3.1 %

Shares of LFUS opened at $251.39 on Tuesday. The stock has a fifty day simple moving average of $254.56 and a two-hundred day simple moving average of $256.24. The company has a quick ratio of 2.52, a current ratio of 3.55 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $6.24 billion, a PE ratio of 32.31, a price-to-earnings-growth ratio of 2.40 and a beta of 1.28. Littelfuse, Inc. has a 52-week low of $222.91 and a 52-week high of $275.58.

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

Littelfuse Dividend Announcement

The firm 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. This represents a $2.80 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Thursday, November 21st. Littelfuse’s dividend payout ratio is presently 35.99%.

Littelfuse 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.