Littelfuse Inc LFUS

Littelfuse Is a Moaty Component Supplier With Good Exposure to Electrification

We think Littelfuse is a differentiated supplier of electrical protection into cars and industrial applications. While it is a smaller player than other competitors we cover in the components market, it has aligned its portfolio toward secular themes of safety, efficiency, and connectivity to pursue growth. We think Littelfuse’s best organic growth opportunities will come from vehicle electrification and charging infrastructure; battery electric vehicles require 5 times the circuit protection content of an internal combustion counterpart, and charging infrastructure presents a lucrative opportunity for the firm’s growing power semiconductor business.