Littelfuse (NASDAQ:LFUS) Cut to Sell at Zacks Investment Research

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Littelfuse (NASDAQ:LFUS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Littelfuse is the preferred brand for leading manufacturers around the world, with more than 40 sales, manufacturing and engineering facilities and a global network of distribution channels. Littelfuse products are vital components in virtually every market that uses electrical energy, from consumer electronics to automobiles, commercial vehicles and industrial equipment. They are also expanding into adjacent markets that complement their core business including power distribution centers for mining operations, generator controls and protection for marine applications, heavy-duty switches for commercial vehicles and electromechanical sensors used in the automotive industry. “

A number of other research analysts have also weighed in on LFUS. Cowen initiated coverage on shares of Littelfuse in a research note on Tuesday, May 21st. They issued an “outperform” rating and a $210.00 target price on the stock. Oppenheimer decreased their target price on shares of Littelfuse from $215.00 to $210.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. Longbow Research lowered shares of Texas Instruments from a “buy” rating to a “neutral” rating and set a $116.20 target price on the stock. in a research note on Wednesday, April 17th. ValuEngine raised shares of Valmont Industries from a “sell” rating to a “hold” rating in a research note on Friday, July 12th. Finally, Barrington Research raised their target price on shares of Lions Gate Entertainment to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 29th. Three analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $223.33.

LFUS stock opened at $169.72 on Tuesday. The company has a current ratio of 3.82, a quick ratio of 2.85 and a debt-to-equity ratio of 0.45. Littelfuse has a 12-month low of $155.15 and a 12-month high of $231.42. The firm has a market cap of $4.16 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 1.69 and a beta of 1.10. The business has a 50-day moving average price of $172.42.

Littelfuse (NASDAQ:LFUS) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.04. Littelfuse had a return on equity of 15.27% and a net margin of 9.70%. The company had revenue of $405.50 million for the quarter, compared to analysts’ expectations of $407.53 million. During the same period in the previous year, the firm posted $2.39 EPS. Littelfuse’s revenue was down 2.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Littelfuse will post 8.3 earnings per share for the current fiscal year.

In other news, SVP Deepak Nayar sold 3,947 shares of Littelfuse stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $187.74, for a total transaction of $741,009.78. Following the sale, the senior vice president now owns 3,502 shares of the company’s stock, valued at approximately $657,465.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Ian Highley sold 986 shares of Littelfuse stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $165.79, for a total transaction of $163,468.94. Following the sale, the senior vice president now directly owns 1,839 shares in the company, valued at approximately $304,887.81. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Manchester Capital Management LLC purchased a new stake in shares of Littelfuse during the 1st quarter valued at approximately $30,000. Quantamental Technologies LLC purchased a new stake in Littelfuse in the first quarter valued at approximately $33,000. Icon Wealth Partners LLC purchased a new stake in Littelfuse in the first quarter valued at approximately $46,000. Institutional & Family Asset Management LLC raised its position in Littelfuse by 243.9% in the first quarter. Institutional & Family Asset Management LLC now owns 282 shares of the technology company’s stock valued at $51,000 after purchasing an additional 200 shares during the period. Finally, Captrust Financial Advisors raised its position in Littelfuse by 25.0% in the fourth quarter. Captrust Financial Advisors now owns 445 shares of the technology company’s stock valued at $76,000 after purchasing an additional 89 shares during the period. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

About Littelfuse

Littelfuse, Inc designs, manufactures, and sells circuit protection, power control, and sensing products worldwide. The company's Electronics segment offers fuses and fuse accessories, positive temperature coefficient resettable fuses, polymer electrostatic discharge suppressors, varistors, magnetic sensing products, and gas discharge tubes; and discrete transient voltage suppressor (TVS) diodes, TVS diode arrays, protection and switching thyristors, silicon carbide, metal-oxide-semiconductor field-effect transistors, and silicon carbide diodes, as well as insulated gate bipolar transistors.

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