Littelfuse, Inc. (NASDAQ:LFUS) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its position in Littelfuse, Inc. (NASDAQ:LFUS) by 76.5% in the second quarter, HoldingsChannel reports. The fund owned 13,934 shares of the technology company’s stock after selling 45,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Littelfuse were worth $3,561,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Rathbones Group PLC grew its holdings in Littelfuse by 0.3% in the second quarter. Rathbones Group PLC now owns 16,624 shares of the technology company’s stock valued at $4,249,000 after purchasing an additional 52 shares during the period. Covestor Ltd increased its holdings in Littelfuse by 28.5% in the 1st quarter. Covestor Ltd now owns 239 shares of the technology company’s stock worth $58,000 after acquiring an additional 53 shares in the last quarter. Fifth Third Bancorp raised its position in Littelfuse by 21.4% during the second quarter. Fifth Third Bancorp now owns 323 shares of the technology company’s stock worth $83,000 after acquiring an additional 57 shares during the period. Signaturefd LLC lifted its holdings in Littelfuse by 14.4% during the second quarter. Signaturefd LLC now owns 469 shares of the technology company’s stock valued at $120,000 after purchasing an additional 59 shares in the last quarter. Finally, Studio Investment Management LLC grew its position in shares of Littelfuse by 3.8% in the second quarter. Studio Investment Management LLC now owns 1,626 shares of the technology company’s stock valued at $416,000 after purchasing an additional 60 shares during the period. 96.14% of the stock is currently owned by institutional investors and hedge funds.

Littelfuse Price Performance

Littelfuse stock opened at $264.31 on Monday. The company has a current ratio of 3.50, a quick ratio of 2.42 and a debt-to-equity ratio of 0.32. The stock has a market cap of $6.55 billion, a P/E ratio of 30.28, a PEG ratio of 2.65 and a beta of 1.28. The company has a 50-day moving average price of $257.31 and a 200 day moving average price of $251.09. Littelfuse, Inc. has a 12-month low of $212.80 and a 12-month high of $275.58.

Littelfuse (NASDAQ:LFUS) last posted its earnings results on Tuesday, July 30th. The technology company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.22. The company had revenue of $558.49 million during the quarter, compared to analysts’ expectations of $540.35 million. Littelfuse had a return on equity of 8.91% and a net margin of 8.71%. The firm’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.12 earnings per share. Sell-side analysts anticipate that Littelfuse, Inc. will post 8.18 earnings per share for the current year.

Littelfuse Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were issued a $0.70 dividend. This is a positive change from Littelfuse’s previous quarterly dividend of $0.65. This represents a $2.80 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Thursday, August 22nd. Littelfuse’s dividend payout ratio is currently 32.07%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. StockNews.com raised shares of Littelfuse from a “hold” rating to a “buy” rating in a research note on Wednesday, September 25th. Stifel Nicolaus raised Littelfuse from a “hold” rating to a “buy” rating and increased their price objective for the company from $270.00 to $280.00 in a research note on Tuesday, August 13th. Robert W. Baird lifted their target price on shares of Littelfuse from $300.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, TD Cowen increased their target price on shares of Littelfuse from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $278.75.

Insider Activity at Littelfuse

In other news, SVP Matthew Cole sold 1,436 shares of Littelfuse stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $246.02, for a total value of $353,284.72. Following the completion of the sale, the senior vice president now directly owns 5,522 shares of the company’s stock, valued at $1,358,522.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO David W. Heinzmann sold 3,786 shares of Littelfuse stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $273.92, for a total value of $1,037,061.12. Following the completion of the transaction, the chief executive officer now directly owns 59,654 shares in the company, valued at $16,340,423.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Matthew Cole sold 1,436 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $246.02, for a total value of $353,284.72. Following the sale, the senior vice president now owns 5,522 shares in the company, valued at approximately $1,358,522.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,328 shares of company stock worth $4,437,986. Insiders own 2.30% of the company’s stock.

Littelfuse Company Profile

Littelfuse, Inc designs, manufactures, and sells electronic components, modules, and subassemblies in the Americas, Asia-Pacific, and Europe. The company operates through Electronic, Transportation, and Industrial segments. The Electronics segment offers fuses and fuse accessories, positive temperature coefficient resettable fuses, electromechanical switches and interconnect solutions, polymer electrostatic discharge suppressors, varistors, reed switch based magnetic sensing products, and gas discharge tubes; and discrete transient voltage suppressor (TVS) diodes, TVS diode arrays, protection and switching thyristors, metal-oxide-semiconductor field-effect transistors and diodes, and insulated gate bipolar transistors.