Sumitomo Life Insurance Co. Reduces Stake in Littelfuse, Inc. (LFUS)

Sumitomo Life Insurance Co. lowered its position in Littelfuse, Inc. (NASDAQ:LFUS) by 12.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,149 shares of the technology company’s stock after selling 1,434 shares during the period. Sumitomo Life Insurance Co.’s holdings in Littelfuse were worth $2,008,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its holdings in Littelfuse by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 554,507 shares of the technology company’s stock worth $126,527,000 after buying an additional 11,476 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Littelfuse by 9.0% in the first quarter. Principal Financial Group Inc. now owns 510,370 shares of the technology company’s stock worth $106,250,000 after buying an additional 42,080 shares during the last quarter. Congress Asset Management Co. MA increased its holdings in Littelfuse by 1,649.7% in the second quarter. Congress Asset Management Co. MA now owns 395,360 shares of the technology company’s stock worth $90,213,000 after buying an additional 372,764 shares during the last quarter. KAMES CAPITAL plc increased its holdings in Littelfuse by 1.7% in the second quarter. KAMES CAPITAL plc now owns 317,901 shares of the technology company’s stock worth $72,526,000 after buying an additional 5,243 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Littelfuse by 2.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 288,810 shares of the technology company’s stock worth $65,901,000 after buying an additional 7,156 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

In other Littelfuse news, SVP Ian Highley sold 12,118 shares of the stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $219.80, for a total transaction of $2,663,536.40. Following the transaction, the senior vice president now owns 12,151 shares in the company, valued at $2,670,789.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Nathan Zommer sold 592 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $221.23, for a total value of $130,968.16. Following the transaction, the director now owns 461,086 shares in the company, valued at approximately $102,006,055.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,502 shares of company stock worth $6,314,954. Corporate insiders own 3.80% of the company’s stock.

Shares of LFUS stock opened at $177.51 on Friday. Littelfuse, Inc. has a 12 month low of $174.21 and a 12 month high of $238.10. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.69 and a current ratio of 3.59. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 22.93, a P/E/G ratio of 1.60 and a beta of 0.93.

Littelfuse (NASDAQ:LFUS) last announced its quarterly earnings results on Wednesday, August 1st. The technology company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.50 by $0.18. Littelfuse had a return on equity of 18.22% and a net margin of 7.36%. The company had revenue of $459.20 million for the quarter, compared to the consensus estimate of $458.84 million. During the same quarter last year, the company posted $2.10 earnings per share. The company’s revenue for the quarter was up 46.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Littelfuse, Inc. will post 9.53 earnings per share for the current fiscal year.

A number of equities analysts recently commented on the company. ValuEngine downgraded Littelfuse from a “hold” rating to a “sell” rating in a report on Monday, October 8th. CL King set a $248.00 price objective on Littelfuse and gave the stock a “buy” rating in a report on Tuesday, September 25th. BidaskClub downgraded Littelfuse from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 21st. Barrington Research restated 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. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $245.00.

About Littelfuse

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.

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Institutional Ownership by Quarter for Littelfuse (NASDAQ:LFUS)

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