Littelfuse (NASDAQ:LFUS) Shares Gap Up After Earnings Beat

Key Points

• Littelfuse exceeded quarterly expectations, reporting EPS of $5.79 versus the $4.97 consensus and revenue of $795.2 million versus $792.49 million expected. Revenue increased 22.7% year over year, while EPS more than doubled from $2.77.
• The stock initially gapped up from $383.00 to $402.06 following the earnings release, but later traded at $373.04, down 2.2%.
• Analysts maintain a “Moderate Buy” consensus, with a target price of $465.83; institutional investors own 96.14% of Littelfuse shares.

Littelfuse, Inc. (NASDAQ:LFUS - Get Free Report) gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $383.00, but opened at $402.06. Littelfuse shares last traded at $373.04, with a volume of 66,496 shares.

The technology company reported $5.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.97 by $0.82. The company had revenue of $795.20 million for the quarter, compared to analysts' expectations of $792.49 million. During the same period last year, the company posted $2.77 EPS. The business's revenue for the quarter was up 22.7% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LFUS shares. Weiss Ratings upgraded shares of Littelfuse from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, July 30th. Zacks Research downgraded Littelfuse from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $465.83.

Institutional Investors Weigh In On Littelfuse

A number of large investors have recently modified their holdings of the stock. Versant Capital Management Inc boosted its position in Littelfuse by 168.0% during the 3rd quarter. Versant Capital Management Inc now owns 67 shares of the technology company's stock valued at $28,000 after acquiring an additional 42 shares in the last quarter. Caitlin John LLC bought a new position in shares of Littelfuse in the 2nd quarter worth approximately $33,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Littelfuse in the 2nd quarter worth approximately $51,000. Root Financial Partners LLC bought a new position in shares of Littelfuse in the 3rd quarter worth approximately $51,000. Finally, NBH Bank purchased a new position in shares of Littelfuse in the 2nd quarter valued at approximately $78,000. Institutional investors own 96.14% of the company's stock.

Littelfuse Trading Down 2.2%

The company has a market cap of $9.51 billion, a PE ratio of -755.41 and a beta of 1.48. The stock has a 50 day moving average price of $411.20 and a 200 day moving average price of $397.09.

Littelfuse Company Profile

Littelfuse, Inc is a diversified industrial technology company that develops and manufactures products designed to protect, control and sense electrical energy. Its portfolio includes fuses and other circuit-protection devices, power semiconductor products, relays, switches, sensors and related electronic components.

The company serves customers in the automotive, commercial vehicle, industrial, electronics, energy and communications markets. Its products are used in applications such as vehicle electrification, battery systems, industrial equipment, power distribution, renewable energy systems, data infrastructure and consumer electronics.

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