Zions Bancorporation National Association UT Buys New Holdings in Littelfuse, Inc. (NASDAQ:LFUS)

Key Points

• Zions Bancorporation National Association UT has acquired 6,689 shares of Littelfuse, Inc., valued at approximately $1.316 million, indicating strong interest from institutional investors.
• Littelfuse recently reported earnings per share of $2.85, surpassing estimates, with revenue increasing by 9.8% compared to the previous year.
• The company has announced an increase in its quarterly dividend to $0.75, reflecting a positive change in shareholder returns.

Zions Bancorporation National Association UT bought a new position in shares of Littelfuse, Inc. (NASDAQ:LFUS - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,689 shares of the technology company's stock, valued at approximately $1,316,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. grew its position in shares of Littelfuse by 7.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 763,396 shares of the technology company's stock valued at $179,895,000 after purchasing an additional 55,835 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Littelfuse by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 442,554 shares of the technology company's stock worth $104,287,000 after buying an additional 22,287 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. raised its holdings in shares of Littelfuse by 4.4% in the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 441,972 shares of the technology company's stock valued at $104,151,000 after buying an additional 18,483 shares during the last quarter. Westwood Holdings Group Inc. raised its position in shares of Littelfuse by 2.8% during the first quarter. Westwood Holdings Group Inc. now owns 357,157 shares of the technology company's stock worth $70,267,000 after acquiring an additional 9,793 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Littelfuse by 0.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 314,897 shares of the technology company's stock worth $61,953,000 after buying an additional 2,362 shares during the period. Institutional investors and hedge funds own 96.14% of the company's stock.

Littelfuse Trading Down 2.9%

Shares of NASDAQ:LFUS traded down $7.57 during mid-day trading on Thursday, reaching $255.85. 52,774 shares of the company's stock were exchanged, compared to its average volume of 214,261. Littelfuse, Inc. has a twelve month low of $142.10 and a twelve month high of $275.56. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.98 and a current ratio of 4.06. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of 53.30, a PEG ratio of 2.19 and a beta of 1.41. The business's fifty day moving average price is $233.64 and its 200-day moving average price is $215.59.

Littelfuse (NASDAQ:LFUS - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $2.85 earnings per share for the quarter, topping analysts' consensus estimates of $2.35 by $0.50. The business had revenue of $613.41 million during the quarter, compared to the consensus estimate of $571.04 million. Littelfuse had a return on equity of 9.74% and a net margin of 5.30%. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.97 earnings per share. On average, research analysts predict that Littelfuse, Inc. will post 9.49 EPS for the current fiscal year.

Littelfuse Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be issued a dividend of $0.75 per share. The ex-dividend date is Thursday, August 21st. This is a positive change from Littelfuse's previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a yield of 1.2%. Littelfuse's dividend payout ratio is currently 58.33%.

Insiders Place Their Bets

In other Littelfuse news, Director T J. Chung sold 2,343 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $246.11, for a total transaction of $576,635.73. Following the completion of the sale, the director directly owned 18,730 shares of the company's stock, valued at approximately $4,609,640.30. The trade was a 11.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Littelfuse from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Robert W. Baird boosted their price target on Littelfuse from $182.00 to $194.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Oppenheimer dropped their price objective on Littelfuse from $310.00 to $275.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Benchmark reaffirmed a "hold" rating on shares of Littelfuse in a report on Wednesday, May 28th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $234.50.

About Littelfuse

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.