OppenheimerFunds Inc. Cuts Position in Littelfuse, Inc. (LFUS)

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OppenheimerFunds Inc. reduced its stake in shares of Littelfuse, Inc. (NASDAQ:LFUS) by 5.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 531,024 shares of the technology company’s stock after selling 33,507 shares during the period. OppenheimerFunds Inc. owned 2.12% of Littelfuse worth $121,169,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Forward Management LLC raised its position in shares of Littelfuse by 8.4% during the 2nd quarter. Forward Management LLC now owns 3,251 shares of the technology company’s stock worth $742,000 after purchasing an additional 252 shares during the last quarter. Polen Capital Management LLC raised its position in shares of Littelfuse by 12.0% during the 2nd quarter. Polen Capital Management LLC now owns 2,493 shares of the technology company’s stock worth $569,000 after purchasing an additional 268 shares during the last quarter. TD Asset Management Inc. raised its position in shares of Littelfuse by 11.5% during the 2nd quarter. TD Asset Management Inc. now owns 2,900 shares of the technology company’s stock worth $662,000 after purchasing an additional 300 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Littelfuse by 0.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 34,054 shares of the technology company’s stock worth $7,089,000 after purchasing an additional 305 shares during the last quarter. Finally, Intrust Bank NA raised its position in shares of Littelfuse by 33.3% during the 2nd quarter. Intrust Bank NA now owns 1,304 shares of the technology company’s stock worth $297,000 after purchasing an additional 326 shares during the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

In other Littelfuse news, EVP Ryan K. Stafford sold 4,013 shares of the business’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $230.18, for a total value of $923,712.34. Following the completion of the transaction, the executive vice president now directly owns 28,344 shares in the company, valued at approximately $6,524,221.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John E. Major sold 645 shares of the business’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $228.77, for a total value of $147,556.65. Following the completion of the transaction, the director now owns 23,994 shares of the company’s stock, valued at $5,489,107.38. The disclosure for this sale can be found here. Insiders sold a total of 39,444 shares of company stock valued at $8,849,246 over the last quarter. 3.80% of the stock is currently owned by insiders.

Several research analysts have weighed in on LFUS shares. ValuEngine downgraded Littelfuse from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub downgraded Littelfuse from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 21st. Barrington Research reiterated a “hold” rating on shares of Littelfuse in a report on Tuesday, July 31st. Finally, Zacks Investment Research downgraded Littelfuse from a “buy” rating to a “hold” rating in a report on Friday, July 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Littelfuse presently has an average rating of “Hold” and an average price target of $224.00.

Shares of LFUS opened at $219.28 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.59 and a quick ratio of 2.69. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 1.93 and a beta of 0.92. Littelfuse, Inc. has a fifty-two week low of $182.03 and a fifty-two week high of $238.10.

Littelfuse (NASDAQ:LFUS) last issued its quarterly earnings results on Wednesday, August 1st. The technology company reported $2.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.50 by $0.18. The company had revenue of $459.20 million during the quarter, compared to the consensus estimate of $458.84 million. Littelfuse had a return on equity of 18.22% and a net margin of 7.36%. Littelfuse’s revenue was up 46.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.10 EPS. analysts forecast that Littelfuse, Inc. will post 9.57 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 6th. Shareholders of record on Thursday, August 23rd were issued a $0.43 dividend. The ex-dividend date was Wednesday, August 22nd. This is an increase from Littelfuse’s previous quarterly dividend of $0.37. This represents a $1.72 annualized dividend and a yield of 0.78%. Littelfuse’s payout ratio is 22.22%.

Littelfuse Profile

Littelfuse, Inc designs, manufactures, and sells circuit protection products worldwide. The company's Electronics segment offers fuses and fuse accessories, positive temperature coefficient resettable fuses, polymer electrostatic discharge suppressors, varistors, and gas discharge tubes; and semiconductor and power semiconductor products, such as 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.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

Institutional Ownership by Quarter for Littelfuse (NASDAQ:LFUS)

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