CIBC Asset Management Inc Purchases New Shares in Littelfuse, Inc. (NASDAQ:LFUS)

CIBC Asset Management Inc acquired a new position in shares of Littelfuse, Inc. (NASDAQ:LFUS) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 756 shares of the technology company’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LFUS. Huntington National Bank boosted its stake in shares of Littelfuse by 200.0% in the third quarter. Huntington National Bank now owns 96 shares of the technology company’s stock worth $25,000 after acquiring an additional 64 shares during the last quarter. CWM LLC boosted its stake in Littelfuse by 410.7% during the 2nd quarter. CWM LLC now owns 143 shares of the technology company’s stock worth $37,000 after purchasing an additional 115 shares during the last quarter. UMB Bank n.a. boosted its stake in Littelfuse by 70.2% during the 3rd quarter. UMB Bank n.a. now owns 143 shares of the technology company’s stock worth $38,000 after purchasing an additional 59 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Littelfuse by 275.0% in the second quarter. GAMMA Investing LLC now owns 165 shares of the technology company’s stock valued at $42,000 after buying an additional 121 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of Littelfuse in the first quarter worth about $50,000. 96.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Robert W. Baird upped their price objective on shares of Littelfuse from $300.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Oppenheimer upgraded Littelfuse from a “market perform” rating to an “outperform” rating and set a $310.00 price target for the company in a research report on Thursday, October 17th. Benchmark reiterated a “hold” rating on shares of Littelfuse in a research report on Wednesday, October 30th. StockNews.com upgraded Littelfuse from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, TD Cowen lifted their price target on Littelfuse from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Littelfuse presently has an average rating of “Moderate Buy” and a consensus target price of $285.00.

Insiders Place Their Bets

In related news, SVP Matthew Cole sold 1,436 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $246.02, for a total transaction of $353,284.72. Following the completion of the transaction, the senior vice president now owns 5,522 shares in the company, valued at approximately $1,358,522.44. The trade was a 20.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David W. Heinzmann sold 2,091 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $274.65, for a total value of $574,293.15. Following the transaction, the chief executive officer now directly owns 59,654 shares of the company’s stock, valued at approximately $16,383,971.10. This represents a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Littelfuse Stock Performance

NASDAQ LFUS opened at $243.82 on Friday. The stock has a fifty day simple moving average of $254.58 and a 200-day simple moving average of $256.27. 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 $6.05 billion, a PE ratio of 31.34, a P/E/G ratio of 2.35 and a beta of 1.28. Littelfuse, Inc. has a twelve month low of $222.91 and a twelve month high of $275.58.

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

Littelfuse Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 annualized dividend and a dividend yield of 1.15%. Littelfuse’s dividend payout ratio is presently 35.99%.

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.