Littelfuse (NASDAQ:LFUS) Updates Q3 2024 Earnings Guidance

Littelfuse (NASDAQ:LFUS) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 1.950-2.150 for the period, compared to the consensus earnings per share estimate of 2.290. The company issued revenue guidance of $540.0 million-$570.0 million, compared to the consensus revenue estimate of $561.3 million.

Littelfuse Stock Down 0.5 %

LFUS stock traded down $1.40 during trading on Tuesday, reaching $258.58. The stock had a trading volume of 109,083 shares, compared to its average volume of 137,994. Littelfuse has a 1-year low of $212.80 and a 1-year high of $305.74. The company has a current ratio of 3.57, a quick ratio of 2.44 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $6.41 billion, a P/E ratio of 29.78, a PEG ratio of 2.56 and a beta of 1.29. The firm has a fifty day moving average price of $258.10 and a 200 day moving average price of $246.08.

Littelfuse (NASDAQ:LFUS) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.01. The business had revenue of $535.39 million for the quarter, compared to analyst estimates of $519.08 million. Littelfuse had a net margin of 9.58% and a return on equity of 10.21%. The company’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.64 EPS. On average, equities analysts anticipate that Littelfuse will post 8.47 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Littelfuse from $240.00 to $250.00 and gave the company a hold rating in a research note on Monday, July 15th. Jefferies Financial Group assumed coverage on shares of Littelfuse in a research note on Tuesday, April 9th. They issued a hold rating and a $260.00 target price on the stock. Baird R W upgraded shares of Littelfuse from a hold rating to a strong-buy rating in a research note on Friday, May 17th. Benchmark reiterated a hold rating on shares of Littelfuse in a research note on Thursday, May 2nd. Finally, Robert W. Baird upgraded shares of Littelfuse from a neutral rating to an outperform rating and increased their price objective for the stock from $270.00 to $300.00 in a research note on Friday, May 17th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $270.00.

Insider Buying and Selling

In related news, CFO Meenal Sethna sold 6,114 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $256.49, for a total transaction of $1,568,179.86. Following the sale, the chief financial officer now owns 22,432 shares in the company, valued at $5,753,583.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Littelfuse news, CFO Meenal Sethna sold 6,114 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $256.49, for a total value of $1,568,179.86. Following the completion of the transaction, the chief financial officer now owns 22,432 shares in the company, valued at approximately $5,753,583.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David W. Heinzmann sold 300 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $273.17, for a total transaction of $81,951.00. Following the completion of the transaction, the chief executive officer now owns 59,654 shares of the company’s stock, valued at approximately $16,295,683.18. The disclosure for this sale can be found here. Insiders have sold a total of 9,938 shares of company stock worth $2,545,503 over the last quarter. 2.30% of the stock is owned by company insiders.

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.