Littelfuse, Inc. (NASDAQ:LFUS) – Equities researchers at Oppenheimer Holdings increased their Q2 2017 earnings per share estimates for shares of Littelfuse in a report released on Tuesday. Oppenheimer Holdings analyst C. Glynn now expects that the technology company will earn $2.10 per share for the quarter, up from their previous forecast of $1.90. Oppenheimer Holdings currently has a “Outperform” rating and a $200.00 target price on the stock. Oppenheimer Holdings also issued estimates for Littelfuse’s Q3 2017 earnings at $1.93 EPS, FY2017 earnings at $7.40 EPS and FY2018 earnings at $8.25 EPS.
Littelfuse (NASDAQ:LFUS) last issued its earnings results on Wednesday, May 3rd. The technology company reported $1.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.05. The company had revenue of $285.44 million for the quarter, compared to analysts’ expectations of $284.95 million. Littelfuse had a net margin of 11.06% and a return on equity of 18.47%. Littelfuse’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.38 EPS.
A number of other research firms have also weighed in on LFUS. BidaskClub raised shares of Littelfuse from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Zacks Investment Research lowered shares of Littelfuse from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. Stifel Nicolaus reissued a “hold” rating and set a $175.00 price target (up from $165.00) on shares of Littelfuse in a research report on Friday. Finally, Robert W. Baird reissued a “positive” rating and set a $195.00 price target (up from $187.00) on shares of Littelfuse in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $187.40.
Shares of Littelfuse (LFUS) opened at 182.99 on Thursday. The company has a market capitalization of $4.15 billion, a PE ratio of 33.63 and a beta of 0.94. Littelfuse has a one year low of $114.76 and a one year high of $188.19. The stock has a 50 day moving average of $167.37 and a 200-day moving average of $160.81.
Littelfuse announced that its Board of Directors has approved a stock repurchase program on Wednesday, May 3rd that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
In other Littelfuse news, SVP Deepak Nayar sold 9,545 shares of Littelfuse stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $164.58, for a total value of $1,570,916.10. Following the sale, the senior vice president now owns 5,141 shares of the company’s stock, valued at $846,105.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Matthew Cole sold 150 shares of Littelfuse stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $169.23, for a total transaction of $25,384.50. Following the completion of the sale, the senior vice president now directly owns 3,985 shares in the company, valued at approximately $674,381.55. The disclosure for this sale can be found here. Insiders have sold 18,781 shares of company stock worth $3,079,622 over the last three months. 1.80% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the company. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Littelfuse by 0.4% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 3,900 shares of the technology company’s stock valued at $624,000 after buying an additional 17 shares in the last quarter. Miles Capital Inc. raised its stake in shares of Littelfuse by 1.8% in the first quarter. Miles Capital Inc. now owns 1,510 shares of the technology company’s stock valued at $241,000 after buying an additional 26 shares in the last quarter. World Asset Management Inc raised its stake in shares of Littelfuse by 2.4% in the first quarter. World Asset Management Inc now owns 1,393 shares of the technology company’s stock valued at $223,000 after buying an additional 32 shares in the last quarter. M&T Bank Corp raised its stake in shares of Littelfuse by 2.9% in the first quarter. M&T Bank Corp now owns 2,517 shares of the technology company’s stock valued at $403,000 after buying an additional 70 shares in the last quarter. Finally, First Midwest Bank Trust Division raised its stake in shares of Littelfuse by 3.3% in the first quarter. First Midwest Bank Trust Division now owns 2,274 shares of the technology company’s stock valued at $364,000 after buying an additional 73 shares in the last quarter. 95.90% 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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