Littelfuse (NASDAQ:LFUS) Raised to Strong-Buy at Wall Street Zen

Key Points

• Research analysts at Wall Street Zen upgraded Littelfuse (NASDAQ:LFUS) from a "buy" rating to a "strong-buy" rating, indicating a highly favorable outlook for the stock.
• In the latest quarterly earnings report, Littelfuse posted an earnings per share (EPS) of $2.85, surpassing estimates and showing a 9.8% increase in revenue compared to the same period last year.
• Currently, Littelfuse has a consensus rating of "Moderate Buy", with an average price target of $249.67 according to data from MarketBeat.

Littelfuse (NASDAQ:LFUS - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Saturday.

Other equities analysts have also issued research reports about the company. Benchmark reissued a "hold" rating on shares of Littelfuse in a report on Wednesday, May 28th. Robert W. Baird increased their target price on Littelfuse from $182.00 to $194.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Oppenheimer dropped their target price on Littelfuse from $310.00 to $275.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, Baird R W lowered Littelfuse from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Littelfuse currently has an average rating of "Moderate Buy" and an average price target of $249.67.

Littelfuse Trading Up 0.8%

NASDAQ:LFUS traded up $2.09 during trading hours on Friday, reaching $253.00. 200,202 shares of the stock were exchanged, compared to its average volume of 218,071. The company has a quick ratio of 2.98, a current ratio of 4.06 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average of $226.74 and a two-hundred day moving average of $214.38. Littelfuse has a twelve month low of $142.10 and a twelve month high of $275.56. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of 52.71, a PEG ratio of 2.15 and a beta of 1.41.

Littelfuse (NASDAQ:LFUS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.50. The business had revenue of $613.41 million for the quarter, compared to analysts' expectations of $571.04 million. Littelfuse had a return on equity of 9.74% and a net margin of 5.30%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $1.97 earnings per share. On average, equities analysts predict that Littelfuse will post 9.49 EPS for the current year.

Hedge Funds Weigh In On Littelfuse

A number of hedge funds and other institutional investors have recently made changes to their positions in LFUS. Mesirow Financial Investment Management Inc. acquired a new stake in Littelfuse in the second quarter valued at about $227,000. Atria Investments Inc acquired a new position in shares of Littelfuse during the 2nd quarter worth approximately $329,000. Assetmark Inc. raised its position in shares of Littelfuse by 20.8% during the 2nd quarter. Assetmark Inc. now owns 1,117 shares of the technology company's stock worth $253,000 after purchasing an additional 192 shares during the last quarter. Arkadios Wealth Advisors acquired a new position in shares of Littelfuse during the 2nd quarter worth approximately $331,000. Finally, Teacher Retirement System of Texas grew its stake in Littelfuse by 13.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 5,701 shares of the technology company's stock worth $1,293,000 after acquiring an additional 678 shares during the period. Hedge funds and other institutional investors own 96.14% of the company's stock.

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.