Summit Creek Advisors LLC Trims Stake in Littelfuse, Inc. (NASDAQ:LFUS)

Jun 05, 2023

Summit Creek Advisors LLC cut its position in shares of Littelfuse, Inc. (NASDAQ:LFUS - Free Report) by 10.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,204 shares of the technology company's stock after selling 11,390 shares during the quarter. Littelfuse makes up about 3.4% of Summit Creek Advisors LLC's investment portfolio, making the stock its 4th largest position. Summit Creek Advisors LLC owned 0.40% of Littelfuse worth $26,328,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in Littelfuse by 8.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 866 shares of the technology company's stock worth $216,000 after buying an additional 68 shares during the period. Citigroup Inc. lifted its holdings in Littelfuse by 2.5% in the 1st quarter. Citigroup Inc. now owns 3,595 shares of the technology company's stock worth $897,000 after buying an additional 89 shares during the period. Bank of Montreal Can lifted its holdings in Littelfuse by 6.0% in the 1st quarter. Bank of Montreal Can now owns 3,711 shares of the technology company's stock worth $975,000 after buying an additional 211 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Littelfuse by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,027 shares of the technology company's stock valued at $2,251,000 after purchasing an additional 860 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of Littelfuse by 1.8% in the 1st quarter. BlackRock Inc. now owns 2,040,384 shares of the technology company's stock valued at $508,893,000 after purchasing an additional 37,011 shares during the period. 95.80% of the stock is currently owned by institutional investors.

NASDAQ LFUS traded down $3.09 on Friday, hitting $255.14. 96,260 shares of the company traded hands, compared to its average volume of 89,209. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of 19.73, a P/E/G ratio of 1.62 and a beta of 1.29. The company has a current ratio of 2.70, a quick ratio of 1.62 and a debt-to-equity ratio of 0.38. The business's 50 day moving average price is $282.78 and its 200-day moving average price is $266.87. Littelfuse, Inc. has a 52-week low of $192.19 and a 52-week high of $309.94.

Littelfuse (NASDAQ:LFUS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 1st. The technology company reported $3.12 EPS for the quarter, missing the consensus estimate of $3.32 by ($0.20). Littelfuse had a net margin of 13.14% and a return on equity of 16.34%. The business had revenue of $612.00 million during the quarter, compared to analysts' expectations of $618.83 million. Equities analysts expect that Littelfuse, Inc. will post 13.57 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Thursday, August 24th will be given a $0.65 dividend. This is an increase from Littelfuse's previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Wednesday, August 23rd. Littelfuse's payout ratio is currently 18.33%.

LFUS has been the subject of a number of research analyst reports. StockNews.com initiated coverage on Littelfuse in a research note on Thursday, May 18th. They issued a "hold" rating for the company. Robert W. Baird raised their price objective on Littelfuse from $260.00 to $285.00 in a research report on Thursday, May 11th. Finally, Stifel Nicolaus raised their price objective on Littelfuse from $240.00 to $265.00 in a research report on Thursday, May 4th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $259.00.

In other Littelfuse news, CAO Jeffrey G. Gorski sold 700 shares of the business's stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $270.15, for a total transaction of $189,105.00. Following the sale, the chief accounting officer now directly owns 2,713 shares of the company's stock, valued at $732,916.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Jeffrey G. Gorski sold 700 shares of the company's stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $270.15, for a total transaction of $189,105.00. Following the transaction, the chief accounting officer now owns 2,713 shares of the company's stock, valued at $732,916.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Deepak Nayar sold 6,792 shares of the company's stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $259.54, for a total value of $1,762,795.68. Following the transaction, the senior vice president now directly owns 4,264 shares in the company, valued at approximately $1,106,678.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,242 shares of company stock worth $2,405,536. Corporate insiders own 2.70% of the company's stock.

Littelfuse, Inc manufactures and sells circuit protection, power control, and sensing products in the Asia-Pacific, the Americas, and Europe. The company operates through Electronic, Transportation, and Industrial segments. The Electronics segment offers fuses and fuse accessories, positive temperature coefficient resettable fuses, 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.

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