Brown Advisory Inc. has reduced its stake in Littelfuse, Inc. (NASDAQ:LFUS) by 23.9% during the second quarter of 2023, according to a recent filing with the Securities and Exchange Commission. The institutional investor now holds 266,841 shares of the technology company after selling 83,902 shares during this period, a move that decreases their ownership to approximately 1.08% of Littelfuse, valued at $60,501,000.
This transaction is part of a broader trend among institutional investors regarding Littelfuse. Other firms have also made notable adjustments to their positions. For instance, Amundi increased its holdings by an astonishing 152,000% in the same quarter, bringing its total to 3,042 shares valued at $722,000. Similarly, Baird Financial Group Inc. raised its stake by 96.1%, now owning 3,090 shares worth approximately $701,000, following the acquisition of 1,514 additional shares.
EverSource Wealth Advisors LLC has also made significant moves, expanding its stake by 652.9% to own 527 shares valued at $119,000. Meanwhile, Quantbot Technologies LP increased its holding by 125.9%, owning 8,557 shares valued at $1,940,000. M&T Bank Corp rounded out this list with a 2.3% increase in its ownership, now holding 5,575 shares worth $1,264,000. Currently, institutional investors and hedge funds own 96.14% of Littelfuse’s stock.
Insider Transactions and Analyst Ratings
On November 26, 2023, Littelfuse’s Senior Vice President, Deepak Nayar, sold 2,333 shares at an average price of $255.50. This transaction totaled $596,081.50, resulting in a 28% reduction in his holdings, leaving him with 5,998 shares valued at about $1,532,489. Insiders now hold 2.50% of the company’s stock.
In terms of market perception, several research firms have recently provided updates regarding Littelfuse’s stock. Benchmark maintained a “hold” rating, while Robert W. Baird upgraded its assessment from “neutral” to “outperform,” raising the target price from $290.00 to $310.00. Conversely, Zacks Research downgraded Littelfuse from a “strong-buy” to a “hold” rating. Currently, one analyst rates the stock as a “Strong Buy,” two have rated it as a “Buy,” and three analysts have assigned a “Hold” rating. Overall, the company holds a “Moderate Buy” average rating with a target price of $292.50 according to MarketBeat.com.
Littelfuse Stock Performance and Future Outlook
As of the latest trading session, Littelfuse shares opened at $259.55. The company boasts a market capitalization of $6.46 billion, a P/E ratio of 49.44, and a P/E/G ratio of 2.06. The stock has fluctuated between a 12-month low of $142.10 and a high of $275.00. It has a fifty-day simple moving average of $253.48 and a two-hundred-day average of $244.35.
In its latest quarterly earnings report released on October 29, 2023, Littelfuse reported an EPS of $2.95, surpassing analysts’ expectations of $2.75 by $0.20. The company generated revenue of $624.64 million, slightly exceeding predictions of $623.70 million. Littelfuse’s revenue has shown a year-over-year increase of 10.2%, up from $2.71 EPS in the same quarter last year. The company’s guidance for Q4 2025 is set at an EPS range of $2.400 to $2.600, with analysts predicting an EPS of $9.49 for the current year.
Additionally, Littelfuse has declared a quarterly dividend of $0.75 per share, which was paid on December 4, 2023, to shareholders of record as of November 20, 2023. This dividend represents an annualized total of $3.00 with a yield of 1.2%. The company’s current dividend payout ratio stands at 57.14%.
Littelfuse, Inc. specializes in designing, manufacturing, and selling electronic components, modules, and subassemblies across the Americas, Asia-Pacific, and Europe. The company operates through various segments, including Electronics, Transportation, and Industrial, offering a range of products such as fuses, switches, and transient voltage suppressors.
