Lazard Asset Management LLC lifted its stake in shares of Littelfuse, Inc. (NASDAQ:LFUS – Free Report) by 12.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 12,453 shares of the technology company’s stock after acquiring an additional 1,358 shares during the quarter. Lazard Asset Management LLC’s holdings in Littelfuse were worth $4,226,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of LFUS. Wellington Management Group LLP acquired a new stake in shares of Littelfuse during the fourth quarter worth $114,166,000. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Littelfuse by 67.3% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,024,176 shares of the technology company’s stock valued at $259,035,000 after purchasing an additional 412,160 shares during the period. Norges Bank acquired a new position in shares of Littelfuse in the 4th quarter valued at $73,575,000. T. Rowe Price Investment Management Inc. increased its stake in Littelfuse by 58.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 609,966 shares of the technology company’s stock worth $154,273,000 after purchasing an additional 225,445 shares in the last quarter. Finally, Corient Private Wealth LLC raised its holdings in Littelfuse by 1,842.8% during the 4th quarter. Corient Private Wealth LLC now owns 193,583 shares of the technology company’s stock worth $48,961,000 after buying an additional 183,619 shares during the period. 96.14% of the stock is currently owned by institutional investors and hedge funds.
Littelfuse Stock Up 0.0%
NASDAQ:LFUS opened at $442.13 on Friday. The firm has a market capitalization of $11.18 billion, a price-to-earnings ratio of -884.24, a PEG ratio of 2.48 and a beta of 1.49. Littelfuse, Inc. has a 1-year low of $233.36 and a 1-year high of $500.57. The company has a current ratio of 2.76, a quick ratio of 1.82 and a debt-to-equity ratio of 0.20. The business’s fifty day moving average price is $443.19 and its 200 day moving average price is $389.03.
Littelfuse Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.7%. This is a positive change from Littelfuse’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, August 20th. Littelfuse’s payout ratio is currently -640.00%.
Insider Buying and Selling
In related news, Director Anthony Grillo sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $451.96, for a total transaction of $1,355,880.00. Following the transaction, the director directly owned 64,928 shares of the company’s stock, valued at approximately $29,344,858.88. The trade was a 4.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Maggie Chu sold 11,397 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $435.48, for a total transaction of $4,963,165.56. Following the completion of the transaction, the senior vice president owned 6,001 shares in the company, valued at approximately $2,613,315.48. This represents a 65.51% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
LFUS has been the subject of a number of analyst reports. Weiss Ratings raised shares of Littelfuse from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday. Robert W. Baird lifted their target price on shares of Littelfuse from $500.00 to $535.00 and gave the stock an “outperform” rating in a research report on Friday, June 5th. Needham & Company LLC restated a “buy” rating and set a $520.00 price target on shares of Littelfuse in a report on Monday, May 18th. Oppenheimer upped their price target on shares of Littelfuse from $430.00 to $500.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen raised shares of Littelfuse from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Littelfuse has an average rating of “Moderate Buy” and an average target price of $465.83.
Get Our Latest Analysis on Littelfuse
Littelfuse Company Profile
Littelfuse, Inc is a global manufacturer of circuit protection, power control, and sensing technologies. Founded in 1927 and headquartered in Chicago, Illinois, the company develops and produces a broad range of products designed to safeguard electrical and electronic systems across a variety of end markets. Littelfuse’s offerings include fuses, semiconductors, relays, and sensors, all engineered to protect against overcurrent, overvoltage, and thermal events in demanding applications.
The company’s product portfolio is organized into key segments such as Automotive, Industrial & Electronics, and Power & Sensor.
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