Brown Advisory Inc. has reduced its stake in Littelfuse, Inc. (NASDAQ: LFUS) by 23.9%, selling 83,902 shares during the second quarter of 2023. According to a recent filing with the Securities and Exchange Commission, the institutional investor now owns 266,841 shares, valued at approximately $60.5 million, which constitutes about 1.08% of the company.
This transaction is part of a broader trend as several institutional investors have adjusted their holdings in Littelfuse. Notably, Amundi increased its position dramatically by 152,000%, acquiring 3,042 shares valued at $722,000 after purchasing an additional 3,040 shares. Similarly, Baird Financial Group Inc. bolstered its stake by 96.1%, now holding 3,090 shares worth $701,000 after acquiring 1,514 shares.
In addition, EverSource Wealth Advisors LLC expanded its position by 652.9%, now owning 527 shares valued at $119,000, while Quantbot Technologies LP increased its stake by 125.9%, owning 8,557 shares valued at $1.94 million. M&T Bank Corp also grew its position by 2.3%, holding 5,575 shares valued at $1.26 million. Currently, institutional investors and hedge funds own approximately 96.14% of Littelfuse’s stock.
Recent Insider Transactions and Analyst Ratings
In related news, Deepak Nayar, Senior Vice President of Littelfuse, sold 2,333 shares on November 26, 2023, for a total of $596,081.50 at an average price of $255.50 per share. Following this transaction, Nayar now holds 5,998 shares, valued at about $1.53 million, reflecting a 28% decrease in his position. This sale has been officially disclosed to the SEC.
Analysts have recently shared mixed reviews on Littelfuse. Benchmark reiterated a “hold” rating on October 30, while Robert W. Baird upgraded the stock from “neutral” to “outperform,” setting a new target price of $310.00. In a contrasting move, Zacks Research downgraded the stock from “strong-buy” to “hold.” Overall, one analyst has rated Littelfuse as a strong buy, two as a buy, and three as a hold, with an average rating of “moderate buy” and a target price of $292.50 according to data from MarketBeat.com.
Littelfuse Financial Performance and Dividend Announcement
As of the latest trading session on Friday, shares of Littelfuse opened at $259.55. The company boasts a market capitalization of $6.46 billion, with a price-to-earnings ratio of 49.44 and a price-to-earnings growth ratio of 2.06. Over the past year, Littelfuse has reached a low of $142.10 and a high of $275.00.
On October 29, 2023, Littelfuse reported quarterly earnings of $2.95 per share, surpassing analysts’ expectations of $2.75. The company achieved revenue of $624.64 million, slightly above the forecast of $623.70 million, and reported a return on equity of 9.89% with a net margin of 5.66%. Year-over-year revenue growth was noted at 10.2%, with earnings per share increasing from $2.71 in the previous year. The company has projected earnings per share for Q4 2025 to be between $2.40 and $2.60.
In addition, Littelfuse announced a quarterly dividend of $0.75 per share, paid on December 4, 2023, to shareholders of record as of November 20, 2023. This equates to an annualized dividend of $3.00 and a yield of 1.2%. The company’s current dividend payout ratio stands at 57.14%.
Littelfuse, Inc. operates across the Americas, Asia-Pacific, and Europe, designing and manufacturing electronic components and modules. The company is organized into three segments: Electronic, Transportation, and Industrial, providing a range of products, including fuses, switches, and transient voltage suppressors.
