Littelfuse Inc. (NASDAQ:LFUS), a leading manufacturer in circuit protection with a focus on automotive, industrial, and electronic markets, disclosed a series of transactions by executive VP and CFO, Sethna Meenal, in a recent filing. On May 13, 2024, Meenal engaged in both acquisition and disposition of shares in the company.
According to the filing, Meenal sold a total of 6,114 shares of Littelfuse common stock. However, this sale was part of a larger set of transactions that included sales of 3,634 and 2,480 shares at weighted average prices of $256.02 and $257.19 per share respectively. These sales resulted in a total transaction value of $1,568,207.
The sales took place in multiple transactions with prices for the 3,634 shares ranging from $255.73 to $256.70, while the prices for the 2,480 shares ranged from $256.84 to $257.47. The prices represent the weighted average sale price of the shares sold in these transactions.
Alongside these sales, the filing also reported an acquisition of shares by Meenal. She acquired 6,114 shares of common stock at a price of $192.59 per share, totaling $1,177,495. It's worth noting that this acquisition was related to the exercise of options that vested in increments of one-third annually, starting from the first anniversary of the April 27, 2018, date of grant.
Following these transactions, Meenal's ownership in the company has adjusted, but the exact number of shares owned following the transactions was not disclosed in the summary provided.
Investors often monitor insider transactions as they can provide insights into the executives' confidence in the company's prospects. Littelfuse has not made any official statements regarding these transactions, and the filing does not suggest any particular strategy or motive behind the CFO's decision to sell or acquire shares at this time.
The transactions were executed under the oversight of Hans Weinburger, who holds power of attorney, and were reported to the Securities and Exchange Commission as required by regulation.
InvestingPro Insights
Littelfuse Inc. (NASDAQ:LFUS) has demonstrated financial stability with its latest metrics, which could be influencing executive decisions on stock transactions. The company boasts a solid market capitalization of $6.38 billion and maintains a Price/Earnings (P/E) ratio of 29.05, reflecting investor sentiment on its earnings capacity. Notably, the P/E ratio has adjusted slightly to 27.31 over the last twelve months as of Q1 2024, indicating a modest change in valuation.
Among the key financial highlights, Littelfuse has reported a gross profit margin of 36.84% in the last twelve months as of Q1 2024, showcasing its ability to maintain profitability despite revenue contraction. The company's revenue has seen a decrease of 8.48% over the same period, which aligns with the 6 analysts who have revised their earnings downwards for the upcoming period, as noted in one of the InvestingPro Tips.
InvestingPro Tips for LFUS also reveal that the company has been consistent in rewarding shareholders, having raised its dividend for 14 consecutive years, a testament to its financial health and commitment to returning value to its investors. Moreover, the company's liquid assets exceed short-term obligations, indicating a strong liquidity position.
For investors looking for more in-depth analysis and additional InvestingPro Tips for Littelfuse, there are 9 tips available, which can offer further insights into the company's performance and outlook. To access these tips, visit https://www.investing.com/pro/LFUS and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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