Littelfuse (NASDAQ:LFUS) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Littelfuse (NASDAQ:LFUS) from a hold rating to a sell rating in a report published on Tuesday, Zacks.com reports.

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. “

LFUS has been the subject of several other reports. Longbow Research lowered Texas Instruments from a buy rating to a neutral rating and set a $116.20 price target for the company. in a report on Wednesday, April 17th. Oppenheimer reduced their price target on Littelfuse from $215.00 to $210.00 and set an outperform rating for the company in a report on Thursday, May 2nd. Cowen started coverage on Littelfuse in a report on Tuesday, May 21st. They set an outperform rating and a $210.00 price target for the company. Barrington Research lifted their price target on Lions Gate Entertainment to $18.00 and gave the company an outperform rating in a report on Wednesday, May 29th. Finally, BidaskClub lowered Vertex Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Littelfuse currently has a consensus rating of Hold and a consensus price target of $223.33.

Shares of Littelfuse stock traded up $3.10 during trading on Tuesday, hitting $173.80. 1,929 shares of the stock traded hands, compared to its average volume of 166,721. The company has a market capitalization of $4.20 billion, a PE ratio of 18.38, a P/E/G ratio of 1.71 and a beta of 1.10. The company has a current ratio of 3.82, a quick ratio of 2.85 and a debt-to-equity ratio of 0.45. Littelfuse has a twelve month low of $155.15 and a twelve month high of $231.42. The business’s fifty day moving average is $172.51.

Littelfuse (NASDAQ:LFUS) last announced its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.92 by $0.04. The business had revenue of $405.50 million during the quarter, compared to analyst estimates of $407.53 million. Littelfuse had a return on equity of 15.27% and a net margin of 9.70%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.39 EPS. As a group, analysts forecast that Littelfuse will post 8.3 earnings per share for the current fiscal year.

In related news, SVP Deepak Nayar sold 3,947 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $187.74, for a total value of $741,009.78. Following the completion of the sale, the senior vice president now directly owns 3,502 shares in the company, valued at approximately $657,465.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Ian Highley sold 986 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $165.79, for a total value of $163,468.94. Following the completion of the sale, the senior vice president now owns 1,839 shares of the company’s stock, valued at $304,887.81. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. GYL Financial Synergies LLC bought a new position in Littelfuse in the 1st quarter worth approximately $1,583,000. Oppenheimer Asset Management Inc. increased its position in Littelfuse by 5.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 14,517 shares of the technology company’s stock worth $2,650,000 after buying an additional 685 shares during the period. Dimensional Fund Advisors LP increased its position in Littelfuse by 14.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 256,818 shares of the technology company’s stock worth $44,037,000 after buying an additional 31,963 shares during the period. OLD National Bancorp IN bought a new position in Littelfuse in the 1st quarter worth approximately $330,000. Finally, Manchester Capital Management LLC bought a new position in Littelfuse in the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 98.76% of the company’s stock.

About Littelfuse

Littelfuse, Inc designs, manufactures, and sells circuit protection, power control, and sensing products worldwide. The company's Electronics segment offers fuses and fuse accessories, positive temperature coefficient resettable fuses, polymer electrostatic discharge suppressors, varistors, magnetic sensing products, and gas discharge tubes; and discrete transient voltage suppressor (TVS) diodes, TVS diode arrays, protection and switching thyristors, silicon carbide, metal-oxide-semiconductor field-effect transistors, and silicon carbide diodes, as well as insulated gate bipolar transistors.

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