Zacks Investment Research Downgrades Littelfuse, Inc. (NASDAQ:LFUS) to Sell

Zacks Investment Research downgraded shares of Littelfuse, Inc. (NASDAQ:LFUS) from a hold rating to a sell rating in a research report released on Tuesday, November 7th.

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. “

Several other brokerages have also commented on LFUS. CIBC restated a market perform rating on shares of Littelfuse in a research note on Friday, October 13th. Oppenheimer Holdings, Inc. lowered Littelfuse from an outperform rating to a market perform rating in a research note on Friday, October 13th. UBS AG lowered Littelfuse from an outperform rating to a market perform rating in a research note on Friday, October 13th. Robert W. Baird reissued a buy rating and issued a $202.00 price target on shares of Littelfuse in a report on Thursday, October 12th. Finally, Stifel Nicolaus reissued a hold rating and issued a $185.00 price target on shares of Littelfuse in a report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $203.80.

Shares of Littelfuse (NASDAQ:LFUS) opened at $204.96 on Tuesday. Littelfuse has a 12-month low of $144.01 and a 12-month high of $212.54. The stock has a market capitalization of $4,655.33, a price-to-earnings ratio of 27.40, a PEG ratio of 1.81 and a beta of 0.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.36 and a quick ratio of 2.75.

Littelfuse (NASDAQ:LFUS) last released its earnings results on Wednesday, November 1st. The technology company reported $2.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.14. The firm had revenue of $317.90 million for the quarter, compared to the consensus estimate of $319.20 million. Littelfuse had a return on equity of 19.62% and a net margin of 13.12%. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.87 earnings per share. sell-side analysts anticipate that Littelfuse will post 7.57 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Wednesday, November 22nd will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Tuesday, November 21st. Littelfuse’s dividend payout ratio (DPR) is 21.57%.

Several hedge funds and other institutional investors have recently made changes to their positions in LFUS. Koch Industries Inc. bought a new stake in shares of Littelfuse in the 2nd quarter worth approximately $376,000. Principal Financial Group Inc. lifted its holdings in shares of Littelfuse by 97.3% in the 2nd quarter. Principal Financial Group Inc. now owns 451,428 shares of the technology company’s stock worth $74,486,000 after purchasing an additional 222,636 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in Littelfuse in the 3rd quarter valued at approximately $33,900,000. Pictet Asset Management Ltd. increased its position in Littelfuse by 66.4% in the 3rd quarter. Pictet Asset Management Ltd. now owns 431,838 shares of the technology company’s stock valued at $84,588,000 after acquiring an additional 172,338 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its position in Littelfuse by 31.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 471,038 shares of the technology company’s stock valued at $92,267,000 after acquiring an additional 112,360 shares during the period. 98.62% of the stock is currently owned by institutional investors and hedge funds.

Littelfuse Company Profile

Littelfuse, Inc is a supplier of circuit protection products for the electronics, automotive and industrial markets. The Company operates through three segments. The Electronics segment provides circuit protection components for overcurrent and overvoltage protection, as well as sensor components and modules to manufacturers of a range of electronic products.

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Analyst Recommendations for Littelfuse (NASDAQ:LFUS)

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