In a recent transaction on May 8, Ryan K. Stafford, the Executive Vice President, Chief Legal Officer, and Corporate Secretary of Littelfuse Inc. (NASDAQ:LFUS), sold 2,219 shares of the company's common stock. The sale was executed at an average price of $256.33 per share, totaling approximately $568,796.
The shares were sold in a series of transactions at prices ranging from $255.80 to $256.74. This range represents the varying prices per share Stafford received during the sale process. The weighted average sale price was calculated based on these multiple transactions.
Following the sale, Stafford's direct ownership in Littelfuse Inc. stands at 24,437 shares. The company, known for its manufacturing in the switchgear and switchboard apparatus sector, has its headquarters in Chicago, Illinois.
Investors and the market often closely watch insider transactions such as these for insights into executive sentiment about the company's current valuation and future prospects. However, such sales can occur for a variety of reasons and may not necessarily indicate a negative outlook from the executive.
The details of the sale, including the exact number of shares sold at each price point, can be provided upon request to the Securities and Exchange Commission, Littelfuse Inc., or any of its security holders, as stated by the reporting person through a footnote in the document.
The sale was officially filed with the Securities and Exchange Commission on May 9, with Hans Weinburger signing the document as the Power of Attorney on behalf of Ryan K. Stafford.
InvestingPro Insights
Amidst the insider transactions at Littelfuse Inc. (NASDAQ:LFUS), the company's financial health and performance metrics provide valuable context for investors. According to InvestingPro data, Littelfuse has a market capitalization of $6.35 billion and a Price-to-Earnings (P/E) ratio of 29.09, which adjusts to 27.15 when looking at the last twelve months as of Q1 2024. This suggests a valuation that is reflective of the company's earnings power.
Littelfuse's gross profit margin for the same period stands at 36.84%, indicating a solid profitability level relative to revenue. However, the company has experienced a revenue decline of 8.48% in the last twelve months as of Q1 2024, which could be a point of consideration for investors looking at the company's growth trajectory.
One of the InvestingPro Tips for Littelfuse highlights that the company has raised its dividend for 14 consecutive years, demonstrating a commitment to returning value to shareholders. Another tip points out that despite the downward revisions of earnings by 6 analysts for the upcoming period, analysts still predict the company will be profitable this year.
For investors seeking a more comprehensive analysis, there are additional InvestingPro Tips available for Littelfuse, which can be accessed through the InvestingPro platform. By using the coupon code PRONEWS24, investors can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further insights into the company's financials and market performance.
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