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Cole Matthew, the Senior Vice President of eMobility & Corporate Strategy at Littelfuse Inc. (NASDAQ:LFUS), recently executed a notable stock transaction. On January 15, Matthew sold 500 shares of Littelfuse common stock at a price of $235 per share, amounting to a total of $117,500. This sale was conducted under a pre-established Rule 10b5-1 trading plan, which Matthew adopted on September 12, 2024. According to InvestingPro data, the stock is currently trading near its 52-week low of $222.91, with relatively low price volatility.
In addition to the sale, Matthew also acquired 500 shares through a stock option exercise at a price of $192.59 per share, bringing the total value of the acquisition to $96,295. Following these transactions, Matthew holds 5,522 shares of Littelfuse common stock. InvestingPro analysis suggests the stock is slightly overvalued at current levels, with 8 additional key insights available to subscribers.
In other recent news, Littelfuse, Inc. has experienced a series of significant developments. The company has postponed its Investor Day due to an upcoming CEO transition, with Dr. Greg Henderson set to assume the role on February 10, 2025. The new date for the Investor Day, an opportunity for Littelfuse to outline its strategic plans and financial forecasts, will be announced in due time.
Littelfuse also recently completed the acquisition of a 200mm wafer fabrication facility in Dortmund, Germany, from Elmos Semiconductor SE. This strategic move is expected to boost the company's capabilities in power semiconductor technology.
In financial developments, Littelfuse reported third-quarter 2024 earnings with revenues of $567 million, despite a 7% year-over-year decline. The company anticipates a sequential decline in fourth-quarter sales, with projections ranging from $510 million to $540 million. Despite the projected decline, the company has maintained a strong financial position, as indicated by its robust free cash flow and solid net debt-to-EBITDA leverage.
In the realm of stock analysis, Oppenheimer has reaffirmed its Outperform rating on Littelfuse, maintaining a price target of $310. The firm's analysis suggests potential for growth, stating that current sales estimates are conservative relative to the company's past performance and potential. These are the recent developments at Littelfuse, Inc.
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