Synovus Financial Corp Acquires 304 Shares of Littelfuse, Inc. (NASDAQ:LFUS)

Synovus Financial Corp lifted its holdings in Littelfuse, Inc. (NASDAQ:LFUS) by 11.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,857 shares of the technology company’s stock after purchasing an additional 304 shares during the period. Synovus Financial Corp’s holdings in Littelfuse were worth $758,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in LFUS. CWM LLC increased its stake in shares of Littelfuse by 410.7% in the second quarter. CWM LLC now owns 143 shares of the technology company’s stock worth $37,000 after purchasing an additional 115 shares during the period. Raymond James & Associates increased its stake in shares of Littelfuse by 36.1% in the second quarter. Raymond James & Associates now owns 50,874 shares of the technology company’s stock worth $13,003,000 after purchasing an additional 13,495 shares during the period. Fifth Third Bancorp increased its stake in Littelfuse by 21.4% during the second quarter. Fifth Third Bancorp now owns 323 shares of the technology company’s stock valued at $83,000 after acquiring an additional 57 shares during the period. Fifth Third Wealth Advisors LLC bought a new position in Littelfuse during the second quarter valued at about $208,000. Finally, Everhart Financial Group Inc. bought a new position in Littelfuse during the second quarter valued at about $224,000. 96.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on LFUS shares. StockNews.com upgraded Littelfuse from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Benchmark restated a “hold” rating on shares of Littelfuse in a research note on Wednesday, October 30th. Oppenheimer upgraded Littelfuse from a “market perform” rating to an “outperform” rating and set a $310.00 price target on the stock in a research note on Thursday, October 17th. Finally, Robert W. Baird boosted their price target on Littelfuse from $300.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Littelfuse has an average rating of “Moderate Buy” and an average price target of $285.00.

Insider Buying and Selling

In related news, CAO Jeffrey G. Gorski sold 700 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $249.02, for a total transaction of $174,314.00. Following the sale, the chief accounting officer now directly owns 3,105 shares in the company, valued at $773,207.10. This represents a 18.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is owned by corporate insiders.

Littelfuse Trading Down 2.3 %

Shares of LFUS opened at $243.74 on Wednesday. Littelfuse, Inc. has a 1 year low of $222.91 and a 1 year high of $275.58. The company has a current ratio of 3.55, a quick ratio of 2.52 and a debt-to-equity ratio of 0.31. The stock has a 50 day simple moving average of $250.95 and a 200-day simple moving average of $255.22. The stock has a market cap of $6.05 billion, a PE ratio of 31.33, a PEG ratio of 2.48 and a beta of 1.26.

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 analysts’ consensus estimates of $2.09 by $0.62. Littelfuse had a return on equity of 8.49% and a net margin of 8.88%. The business had revenue of $567.39 million during the quarter, compared to analysts’ expectations of $557.38 million. During the same period in the prior year, the firm posted $2.97 EPS. Littelfuse’s quarterly revenue was down 6.5% compared to the same quarter last year. On average, sell-side analysts predict that Littelfuse, Inc. will post 8.47 EPS for the current fiscal year.

Littelfuse Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 21st were given a dividend of $0.70 per share. The ex-dividend date was Thursday, November 21st. This represents a $2.80 dividend on an annualized basis and a yield of 1.15%. Littelfuse’s dividend payout ratio (DPR) is presently 35.99%.

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.