Verition Fund Management LLC Acquires Shares of 54,591 Littelfuse, Inc. (NASDAQ:LFUS)

Verition Fund Management LLC purchased a new position in shares of Littelfuse, Inc. (NASDAQ:LFUS - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 54,591 shares of the technology company's stock, valued at approximately $14,480,000. Verition Fund Management LLC owned about 0.22% of Littelfuse at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of LFUS. Van Lanschot Kempen Investment Management N.V. purchased a new position in shares of Littelfuse during the 2nd quarter worth $100,662,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Littelfuse during the 2nd quarter valued at $46,037,000. Victory Capital Management Inc. lifted its stake in shares of 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. Jennison Associates LLC lifted its stake in shares of Littelfuse by 38.4% during the 3rd quarter. Jennison Associates LLC now owns 181,141 shares of the technology company's stock valued at $48,048,000 after buying an additional 50,304 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Littelfuse by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 419,586 shares of the technology company's stock valued at $107,244,000 after buying an additional 49,588 shares in the last quarter. Hedge funds and other institutional investors own 96.14% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LFUS. Benchmark restated a "hold" rating on shares of Littelfuse in a research note on Wednesday, October 30th. Oppenheimer upgraded shares of Littelfuse from a "market perform" rating to an "outperform" rating and set a $310.00 target price on the stock in a research note on Thursday, October 17th. Stifel Nicolaus upgraded shares of Littelfuse from a "hold" rating to a "buy" rating and lifted their target price for the company from $270.00 to $280.00 in a research note on Tuesday, August 13th. StockNews.com upgraded shares of Littelfuse from a "hold" rating to a "buy" rating in a research note on Friday, October 18th. Finally, Robert W. Baird lifted their target price 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. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Littelfuse has a consensus rating of "Moderate Buy" and an average target price of $285.00.

Littelfuse Price Performance

LFUS stock traded up $0.83 during mid-day trading on Friday, hitting $246.67. The company had a trading volume of 53,539 shares, compared to its average volume of 127,637. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 2.42 and a beta of 1.28. Littelfuse, Inc. has a 12-month low of $222.91 and a 12-month high of $275.58. The company has a quick ratio of 2.52, a current ratio of 3.55 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $253.63 and a 200 day moving average price of $255.98.

Littelfuse (NASDAQ:LFUS - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.71 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $557.38 million. During the same quarter in the previous year, the company earned $2.97 EPS. The business's quarterly revenue was down 6.5% compared to the same quarter last year. On average, research analysts anticipate that Littelfuse, Inc. will post 8.47 earnings per share for the current year.

Littelfuse Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.14%. Littelfuse's dividend payout ratio (DPR) is presently 35.99%.

Insider Transactions at Littelfuse

In related news, SVP Matthew Cole sold 1,436 shares of the company's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $246.02, for a total transaction of $353,284.72. Following the transaction, the senior vice president now directly owns 5,522 shares in the company, valued at approximately $1,358,522.44. This represents a 20.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company's stock.

About Littelfuse

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.