Lord Abbett & CO. LLC Acquires 16,661 Shares of Littelfuse, Inc. (NASDAQ:LFUS)

Lord Abbett & CO. LLC lifted its holdings in shares of Littelfuse, Inc. (NASDAQ:LFUS) by 8.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 214,202 shares of the technology company’s stock after purchasing an additional 16,661 shares during the period. Lord Abbett & CO. LLC owned about 0.87% of Littelfuse worth $42,142,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in LFUS. Oppenheimer Asset Management Inc. boosted its position in Littelfuse by 1.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,142 shares of the technology company’s stock valued at $1,208,000 after buying an additional 69 shares during the period. Treasurer of the State of North Carolina boosted its position in Littelfuse by 0.7% during the 4th quarter. Treasurer of the State of North Carolina now owns 10,733 shares of the technology company’s stock valued at $2,529,000 after buying an additional 70 shares during the period. Fifth Third Bancorp boosted its position in Littelfuse by 30.5% during the 1st quarter. Fifth Third Bancorp now owns 325 shares of the technology company’s stock valued at $64,000 after buying an additional 76 shares during the period. Snowden Capital Advisors LLC boosted its position in Littelfuse by 0.5% during the 4th quarter. Snowden Capital Advisors LLC now owns 16,413 shares of the technology company’s stock valued at $3,868,000 after buying an additional 86 shares during the period. Finally, Global X Japan Co. Ltd. boosted its position in Littelfuse by 33.5% during the 1st quarter. Global X Japan Co. Ltd. now owns 347 shares of the technology company’s stock valued at $68,000 after buying an additional 87 shares during the period. Institutional investors own 96.14% of the company’s stock.

Insider Transactions at Littelfuse

In related news, Director T J. Chung sold 2,343 shares of Littelfuse stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $246.11, for a total transaction of $576,635.73. Following the completion of the transaction, the director directly owned 18,730 shares of the company’s stock, valued at $4,609,640.30. This trade represents a 11.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on LFUS. Benchmark reissued a “hold” rating on shares of Littelfuse in a research report on Wednesday, May 28th. Oppenheimer dropped their target price on shares of Littelfuse from $310.00 to $275.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Wall Street Zen raised shares of Littelfuse from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 2nd. Finally, Robert W. Baird raised their target price on shares of Littelfuse from $182.00 to $194.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $234.50.

Littelfuse Trading Down 2.7%

NASDAQ:LFUS opened at $256.33 on Friday. Littelfuse, Inc. has a 12 month low of $142.10 and a 12 month high of $275.56. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of 53.40, a P/E/G ratio of 2.26 and a beta of 1.41. The company has a 50-day moving average price of $234.48 and a 200-day moving average price of $215.77. The company has a current ratio of 4.06, a quick ratio of 2.98 and a debt-to-equity ratio of 0.30.

Littelfuse (NASDAQ:LFUS) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.50. Littelfuse had a net margin of 5.30% and a return on equity of 9.74%. The company had revenue of $613.41 million during the quarter, compared to analysts’ expectations of $571.04 million. During the same period last year, the company posted $1.97 EPS. Littelfuse’s revenue was up 9.8% on a year-over-year basis. Equities analysts predict that Littelfuse, Inc. will post 9.49 EPS for the current year.

Littelfuse Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be given a dividend of $0.75 per share. This is an increase from Littelfuse’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $3.00 dividend on an annualized basis and a yield of 1.2%. Littelfuse’s dividend payout ratio is 58.33%.

About Littelfuse

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.