CIBC Asset Management Inc Invests $201,000 in Littelfuse, Inc. (NASDAQ:LFUS)

CIBC Asset Management Inc purchased a new position in shares of Littelfuse, Inc. (NASDAQ:LFUS) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 756 shares of the technology company’s stock, valued at approximately $201,000.

Several other institutional investors have also recently added to or reduced their stakes in LFUS. Huntington National Bank grew its stake in shares of Littelfuse by 200.0% in the 3rd quarter. Huntington National Bank now owns 96 shares of the technology company’s stock valued at $25,000 after purchasing an additional 64 shares during the last quarter. CWM LLC lifted its holdings in shares of Littelfuse by 410.7% during the second quarter. CWM LLC now owns 143 shares of the technology company’s stock worth $37,000 after purchasing an additional 115 shares during the period. UMB Bank n.a. grew its position in Littelfuse by 70.2% in the 3rd quarter. UMB Bank n.a. now owns 143 shares of the technology company’s stock valued at $38,000 after buying an additional 59 shares during the last quarter. GAMMA Investing LLC increased its stake in Littelfuse by 275.0% in the 2nd quarter. GAMMA Investing LLC now owns 165 shares of the technology company’s stock valued at $42,000 after buying an additional 121 shares during the period. Finally, EntryPoint Capital LLC purchased a new position in Littelfuse during the 1st quarter worth $50,000. Institutional investors and hedge funds own 96.14% of the company’s stock.

Analyst Ratings Changes

LFUS has been the topic of several analyst reports. Oppenheimer raised shares of Littelfuse from a “market perform” rating to an “outperform” rating and set a $310.00 target price on the stock in a report on Thursday, October 17th. Stifel Nicolaus upgraded Littelfuse from a “hold” rating to a “buy” rating and boosted their target price for the stock from $270.00 to $280.00 in a research report on Tuesday, August 13th. Robert W. Baird raised their price target on Littelfuse from $300.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. StockNews.com raised Littelfuse from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, TD Cowen raised their target price on Littelfuse from $250.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $285.00.

Insiders Place Their Bets

In related news, CEO David W. Heinzmann sold 2,091 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $274.65, for a total transaction of $574,293.15. Following the sale, the chief executive officer now owns 59,654 shares of the company’s stock, valued at $16,383,971.10. This trade represents a 3.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Matthew Cole sold 1,436 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $246.02, for a total transaction of $353,284.72. Following the completion of the transaction, the senior vice president now directly owns 5,522 shares of the company’s stock, valued at $1,358,522.44. The trade was a 20.64 % decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.

Littelfuse Price Performance

Shares of NASDAQ:LFUS opened at $243.82 on Friday. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of 31.34, a price-to-earnings-growth ratio of 2.35 and a beta of 1.28. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.55 and a quick ratio of 2.52. The business’s 50 day simple moving average is $254.58 and its 200-day simple moving average is $256.27. Littelfuse, Inc. has a 12 month low of $222.91 and a 12 month high of $275.58.

Littelfuse (NASDAQ:LFUS) last posted its earnings results on Tuesday, October 29th. The technology company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.62. Littelfuse had a return on equity of 8.49% and a net margin of 8.88%. The company had revenue of $567.39 million for the quarter, compared to the consensus estimate of $557.38 million. During the same period in the previous year, the business earned $2.97 earnings per share. Littelfuse’s quarterly revenue was down 6.5% compared to the same quarter last year. As a group, equities analysts forecast that Littelfuse, Inc. will post 8.47 earnings per share for the current fiscal year.

Littelfuse Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.70 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.80 annualized dividend and a yield of 1.15%. Littelfuse’s dividend payout ratio (DPR) is currently 35.99%.

Littelfuse 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.