ROSEMONT, IL—Jeffrey G. Gorski, Senior Vice President and Chief Accounting Officer at Littelfuse Inc. (NASDAQ:LFUS), recently sold a portion of his company holdings. According to a filing with the Securities and Exchange Commission, Gorski sold 700 shares of Littelfuse common stock on December 12, 2024. The shares were sold at a weighted average price of $249.02, resulting in total proceeds of $174,314. The transaction occurred near the stock's current trading level of $246.30, with Littelfuse maintaining a market capitalization of $6.1 billion.
The transactions were executed in multiple trades with prices ranging from $248.66 to $249.58. Following this sale, Gorski holds 3,105 shares of Littelfuse stock. The sale was reported on December 16, 2024, and signed by Hans Weinburger under power of attorney. Littelfuse, a company specializing in switchgear and switchboard apparatus, is headquartered in Rosemont, Illinois. According to InvestingPro, the company maintains strong financial health with a current ratio of 3.55 and operates with moderate debt levels. InvestingPro analysis indicates the stock generally trades with low price volatility, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US equities.
In other recent news, Littelfuse Inc. has been maintaining a positive trajectory despite market challenges. The company exceeded sales and earnings expectations for its third-quarter 2024, reporting revenues of $567 million, albeit a 7% decrease from the previous year. This decline was attributed to challenging customer ordering patterns in Europe and China, as well as soft demand across various markets. The company's projections for Q4 sales range from $510 million to $540 million, indicating a sequential decline in sales.
Oppenheimer reaffirmed an Outperform rating on Littelfuse, maintaining a price target of $310. The firm's analysis suggests potential for growth, given that sales and estimates are still trailing behind previous peaks. It also considers the current sales estimates conservative relative to the company's past performance and potential.
Despite these developments, Littelfuse has exhibited strong free cash flow and maintained solid net debt-to-EBITDA leverage. The company also reported growth in medical and data center applications, as well as an increase in passenger vehicle sales in China. These recent developments reflect the company's resilience and potential for future growth.
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