What Happened?
Shares of electronic component provider Littelfuse (NASDAQ: LFUS) jumped 11.7% in the afternoon session after the company reported strong second-quarter financial results that beat analyst expectations on both revenue and earnings. The circuit protection product manufacturer announced that its revenue grew 9.8% year-over-year to $613.4 million, which beat forecasts of $576.8 million. Adjusted earnings per share came in at $2.85, a figure that was significantly higher than the anticipated $2.33 and represented a 45% increase from the prior year's quarter. In addition to the strong performance, Littelfuse's board of directors approved a 7% increase in the quarterly cash dividend, which signaled management's confidence in the company's financial health. The company also provided a solid outlook for the third quarter.
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What Is The Market Telling Us
Littelfuse’s shares are not very volatile and have only had 9 moves greater than 5% over the last year. Moves this big are rare for Littelfuse and indicate this news significantly impacted the market’s perception of the business.
Littelfuse is up 10.7% since the beginning of the year, and at $259.70 per share, it is trading close to its 52-week high of $273.15 from August 2024. Investors who bought $1,000 worth of Littelfuse’s shares 5 years ago would now be looking at an investment worth $1,461.
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