VIRGINIA RETIREMENT SYSTEMS ET Al Acquires 1,840 Shares of Littelfuse, Inc. $LFUS

VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of Littelfuse, Inc. (NASDAQ:LFUS) by 66.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,600 shares of the technology company’s stock after buying an additional 1,840 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Littelfuse were worth $1,949,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of America Corp DE bought a new stake in shares of Littelfuse during the 2nd quarter valued at $115,306,000. Baird Financial Group Inc. increased its stake in shares of Littelfuse by 491.7% in the 2nd quarter. Baird Financial Group Inc. now owns 50,679 shares of the technology company’s stock worth $23,076,000 after purchasing an additional 42,114 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Littelfuse in the 2nd quarter worth $3,332,000. Bank of New York Mellon Corp purchased a new stake in shares of Littelfuse in the 2nd quarter worth $86,345,000. Finally, Hill City Capital LP bought a new position in Littelfuse in the 2nd quarter worth $54,639,600. 96.14% of the stock is owned by hedge funds and other institutional investors.

Littelfuse Price Performance

Shares of NASDAQ:LFUS opened at $412.68 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.67 and a quick ratio of 2.01. Littelfuse, Inc. has a 1-year low of $233.36 and a 1-year high of $500.57. The company has a market capitalization of $10.48 billion, a P/E ratio of 338.27, a P/E/G ratio of 1.79 and a beta of 1.50. The firm’s 50 day simple moving average is $409.43 and its two-hundred day simple moving average is $400.10.

Littelfuse (NASDAQ:LFUS) last announced its quarterly earnings data on Wednesday, October 28th. The technology company reported $5.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.82. The firm had revenue of $795.20 million during the quarter, compared to analysts’ expectations of $792.49 million. Littelfuse had a net margin of 1.37% and a return on equity of 15.86%. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.77 earnings per share. Research analysts expect that Littelfuse, Inc. will post 18.37 EPS for the current fiscal year.

Littelfuse Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 19th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $3.20 annualized dividend and a dividend yield of 0.8%. Littelfuse’s payout ratio is currently 262.30%.

Insiders Place Their Bets

In other news, SVP David Ruppel sold 1,493 shares of the stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $404.57, for a total value of $604,023.01. Following the sale, the senior vice president owned 4,720 shares of the company’s stock, valued at approximately $1,909,570.40. This represents a 24.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Oppenheimer reiterated an “outperform” rating on shares of Littelfuse in a research report on Thursday, October 29th. Zacks Research raised Littelfuse from a “hold” rating to a “strong-buy” rating in a report on Friday, October 30th. Weiss Ratings restated a “hold (c-)” rating on shares of Littelfuse in a research report on Wednesday, October 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $520.00 price objective on shares of Littelfuse in a research note on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $465.83.

About Littelfuse

Littelfuse, Inc is a diversified industrial technology company that develops and manufactures products designed to protect, control and sense electrical energy. Its portfolio includes fuses and other circuit-protection devices, power semiconductor products, relays, switches, sensors and related electronic components.

The company serves customers in the automotive, commercial vehicle, industrial, electronics, energy and communications markets. Its products are used in applications such as vehicle electrification, battery systems, industrial equipment, power distribution, renewable energy systems, data infrastructure and consumer electronics.