Bank of New York Mellon Corp Reduces Position in Littelfuse, Inc. (NASDAQ:LFUS)

Bank of New York Mellon Corp lessened its stake in shares of Littelfuse, Inc. (NASDAQ:LFUS - Free Report) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 256,063 shares of the technology company's stock after selling 4,039 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.04% of Littelfuse worth $50,378,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Littelfuse by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 2,807,162 shares of the technology company's stock valued at $661,508,000 after purchasing an additional 40,423 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Littelfuse by 1.2% during the fourth quarter. Neuberger Berman Group LLC now owns 1,047,025 shares of the technology company's stock valued at $246,732,000 after purchasing an additional 11,958 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of Littelfuse by 7.9% during 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 period. Norges Bank purchased a new stake in shares of Littelfuse during the fourth quarter valued at approximately $131,579,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Littelfuse by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 442,554 shares of the technology company's stock valued at $104,287,000 after purchasing an additional 22,287 shares during the period. Hedge funds and other institutional investors own 96.14% of the company's stock.

Insider Buying and Selling at Littelfuse

In other news, SVP Deepak Nayar sold 1,477 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $197.50, for a total transaction of $291,707.50. Following the completion of the transaction, the senior vice president directly owned 5,975 shares in the company, valued at $1,180,062.50. This trade represents a 19.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is owned by insiders.

Littelfuse Stock Performance

Shares of Littelfuse stock opened at $233.85 on Friday. The company has a current ratio of 3.88, a quick ratio of 2.75 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $5.78 billion, a P/E ratio of 54.13, a P/E/G ratio of 2.13 and a beta of 1.39. The business has a fifty day simple moving average of $218.05 and a two-hundred day simple moving average of $214.40. Littelfuse, Inc. has a 12 month low of $142.10 and a 12 month high of $275.58.

Littelfuse (NASDAQ:LFUS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The technology company reported $2.19 EPS for the quarter, beating the consensus estimate of $1.82 by $0.37. The business had revenue of $554.31 million during the quarter, compared to analyst estimates of $537.60 million. Littelfuse had a return on equity of 9.00% and a net margin of 4.89%. The company's revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.76 earnings per share. On average, equities analysts forecast that Littelfuse, Inc. will post 9.49 earnings per share for the current fiscal year.

Littelfuse Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $2.80 annualized dividend and a dividend yield of 1.20%. Littelfuse's payout ratio is presently 64.81%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Baird R W lowered Littelfuse from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Oppenheimer dropped their price target on Littelfuse from $310.00 to $275.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Wall Street Zen raised Littelfuse from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Robert W. Baird raised their price target on Littelfuse from $182.00 to $194.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Finally, Benchmark reaffirmed a "hold" rating on shares of Littelfuse in a research note on Wednesday, May 28th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Littelfuse presently has a consensus rating of "Hold" and a consensus target price of $252.25.

Littelfuse Company 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.

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