Littelfuse, Inc. (NASDAQ:LFUS) Position Reduced by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lowered its holdings in shares of Littelfuse, Inc. (NASDAQ:LFUS - Free Report) by 16.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,795 shares of the technology company's stock after selling 3,912 shares during the period. Wedge Capital Management L L P NC owned about 0.08% of Littelfuse worth $3,894,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LFUS. Barclays PLC raised its position in shares of Littelfuse by 52.7% in the third quarter. Barclays PLC now owns 11,448 shares of the technology company's stock valued at $3,037,000 after buying an additional 3,949 shares during the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of Littelfuse by 55.2% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 492 shares of the technology company's stock valued at $116,000 after buying an additional 175 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Littelfuse in the fourth quarter valued at approximately $401,000. Quent Capital LLC raised its position in shares of Littelfuse by 525.0% in the fourth quarter. Quent Capital LLC now owns 125 shares of the technology company's stock valued at $29,000 after buying an additional 105 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Littelfuse by 26.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 129,836 shares of the technology company's stock valued at $30,473,000 after buying an additional 26,975 shares during the last quarter. Institutional investors and hedge funds own 96.14% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on LFUS. Robert W. Baird boosted their price objective on shares of Littelfuse from $182.00 to $194.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Baird R W lowered shares of Littelfuse from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Benchmark reissued a "hold" rating on shares of Littelfuse in a research report on Wednesday, May 28th. Oppenheimer cut their price objective on shares of Littelfuse from $310.00 to $275.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Finally, Wall Street Zen lowered shares of Littelfuse from a "buy" rating to a "hold" rating in a research report on Friday, June 6th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $252.25.

Littelfuse Trading Down 4.6%

LFUS stock traded down $10.43 on Friday, hitting $216.15. 162,241 shares of the company were exchanged, compared to its average volume of 164,061. Littelfuse, Inc. has a twelve month low of $142.10 and a twelve month high of $275.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.61 and a quick ratio of 2.62. The business's fifty day moving average is $191.90 and its two-hundred day moving average is $217.04. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 48.03, a price-to-earnings-growth ratio of 2.24 and a beta of 1.38.

Littelfuse (NASDAQ:LFUS - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The technology company reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.37. Littelfuse had a net margin of 5.16% and a return on equity of 8.55%. The company had revenue of $554.31 million during the quarter, compared to the consensus estimate of $537.60 million. During the same period in the previous year, the firm earned $1.76 earnings per share. Littelfuse's revenue for the quarter was up 3.5% on a year-over-year basis. As a group, research analysts forecast that Littelfuse, Inc. will post 9.49 earnings per share for the current year.

Littelfuse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were paid a dividend of $0.70 per share. The ex-dividend date was Thursday, May 22nd. This represents a $2.80 annualized dividend and a yield of 1.30%. Littelfuse's dividend payout ratio is currently 64.81%.

Insiders Place Their Bets

In other news, SVP Deepak Nayar sold 1,477 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $197.50, for a total value of $291,707.50. Following the completion of the transaction, the senior vice president now directly owns 5,975 shares in the company, valued at approximately $1,180,062.50. This represents a 19.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is owned by insiders.

Littelfuse 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.