Meeder Asset Management Inc. Invests $53,000 in Littelfuse, Inc. (NASDAQ:LFUS)

Meeder Asset Management Inc. acquired a new stake in Littelfuse, Inc. (NASDAQ:LFUS) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 200 shares of the technology company’s stock, valued at approximately $53,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LFUS. Van Lanschot Kempen Investment Management N.V. bought a new position in Littelfuse in the 2nd quarter valued at approximately $100,662,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Littelfuse in the 2nd quarter valued at approximately $46,037,000. Victory Capital Management Inc. lifted its position in Littelfuse by 13.2% in the 2nd quarter. Victory Capital Management Inc. now owns 501,504 shares of the technology company’s stock valued at $128,179,000 after acquiring an additional 58,529 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Littelfuse by 13.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 419,586 shares of the technology company’s stock valued at $107,244,000 after acquiring an additional 49,588 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Littelfuse by 43.5% in the 2nd quarter. American Century Companies Inc. now owns 161,319 shares of the technology company’s stock valued at $41,232,000 after acquiring an additional 48,890 shares in the last quarter. 96.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LFUS shares. Oppenheimer raised Littelfuse from a “market perform” rating to an “outperform” rating and set a $310.00 price target on the stock in a report on Thursday, October 17th. Stifel Nicolaus raised Littelfuse from a “hold” rating to a “buy” rating and increased their price target for the company from $270.00 to $280.00 in a report on Tuesday, August 13th. TD Cowen increased their price target on Littelfuse from $250.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Benchmark reaffirmed a “hold” rating on shares of Littelfuse in a report on Wednesday, October 30th. Finally, Robert W. Baird raised their price target on Littelfuse from $300.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $285.00.

Littelfuse Price Performance

NASDAQ:LFUS opened at $237.94 on Thursday. 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 business’s 50-day simple moving average is $254.99 and its two-hundred day simple moving average is $256.59. The stock has a market cap of $5.90 billion, a PE ratio of 30.58, a P/E/G ratio of 2.37 and a beta of 1.28. Littelfuse, Inc. has a 52 week low of $222.91 and a 52 week high of $275.58.

Littelfuse (NASDAQ:LFUS) last issued its earnings results on Tuesday, October 29th. The technology company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.62. Littelfuse had a return on equity of 8.49% and a net margin of 8.88%. The firm had revenue of $567.39 million for the quarter, compared to analysts’ expectations of $557.38 million. During the same period in the previous year, the firm posted $2.97 earnings per share. The business’s revenue was down 6.5% compared to the same quarter last year. As a group, analysts forecast that Littelfuse, Inc. will post 8.47 EPS for the current fiscal year.

Littelfuse Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be given a $0.70 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.80 annualized dividend and a yield of 1.18%. Littelfuse’s dividend payout ratio is currently 35.99%.

Insider Buying and Selling

In other news, CEO David W. Heinzmann sold 8,715 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $274.40, for a total transaction of $2,391,396.00. Following the transaction, the chief executive officer now directly owns 59,654 shares of the company’s stock, valued at approximately $16,369,057.60. This represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, the senior vice president now directly owns 5,522 shares in the company, valued at $1,358,522.44. This trade represents a 20.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,242 shares of company stock worth $3,318,974. Corporate insiders own 2.30% of the company’s stock.

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.