JPMorgan Chase & Co. Trims Stock Holdings in Littelfuse, Inc. (NASDAQ:LFUS)

JPMorgan Chase & Co. cut its stake in shares of Littelfuse, Inc. (NASDAQ:LFUS) by 5.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 264,295 shares of the technology company’s stock after selling 15,996 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.07% of Littelfuse worth $70,104,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jane Street Group LLC raised its position in shares of Littelfuse by 126.9% during the 3rd quarter. Jane Street Group LLC now owns 11,418 shares of the technology company’s stock valued at $3,029,000 after purchasing an additional 6,386 shares during the period. Chesapeake Capital Corp IL bought a new stake in Littelfuse during the 3rd quarter valued at approximately $570,000. Thrivent Financial for Lutherans boosted its stake in Littelfuse by 1.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 278,158 shares of the technology company’s stock worth $73,781,000 after purchasing an additional 3,831 shares during the period. Victory Capital Management Inc. grew its holdings in Littelfuse by 13.2% during the 2nd quarter. Victory Capital Management Inc. now owns 501,504 shares of the technology company’s stock valued at $128,179,000 after buying an additional 58,529 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Littelfuse by 3.4% during the second quarter. Federated Hermes Inc. now owns 209,976 shares of the technology company’s stock valued at $53,668,000 after buying an additional 6,814 shares during the last quarter. 96.14% of the stock is owned by hedge funds and other institutional investors.

Littelfuse Price Performance

LFUS stock opened at $238.83 on Friday. The company has a current ratio of 3.55, a quick ratio of 2.52 and a debt-to-equity ratio of 0.31. The stock has a market cap of $5.93 billion, a PE ratio of 30.70, a P/E/G ratio of 2.42 and a beta of 1.26. Littelfuse, Inc. has a 12 month low of $222.91 and a 12 month high of $275.58. The company has a 50-day moving average price of $245.41 and a 200 day moving average price of $253.56.

Littelfuse (NASDAQ:LFUS) last issued its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.62. The firm had revenue of $567.39 million during the quarter, compared to analyst estimates of $557.38 million. Littelfuse had a return on equity of 8.49% and a net margin of 8.88%. Littelfuse’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period last year, the company earned $2.97 EPS. Equities research analysts anticipate that Littelfuse, Inc. will post 8.47 earnings per share for the current year.

Littelfuse Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 21st were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.80 dividend on an annualized basis and a yield of 1.17%. Littelfuse’s payout ratio is 35.99%.

Insider Buying and Selling at Littelfuse

In other Littelfuse news, CAO Jeffrey G. Gorski sold 700 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $249.02, for a total value of $174,314.00. Following the completion of the sale, the chief accounting officer now directly owns 3,105 shares in the company, valued at approximately $773,207.10. This represents a 18.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. StockNews.com upgraded shares of Littelfuse from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Oppenheimer upgraded shares of Littelfuse from a “market perform” rating to an “outperform” rating and set a $310.00 price objective for the company in a research report on Thursday, October 17th. Finally, Benchmark reaffirmed a “hold” rating on shares of Littelfuse in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $285.00.

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.