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Littelfuse Inc LFUS

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Morningstar’s Analysis

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Littelfuse Notches Big First Quarter, Despite Supply Chain Headaches; Raising FVE to $260

Analyst Note

| William Kerwin |

Narrow-moat Littelfuse blew its guidance out of the water on both the top and bottom lines in its first quarter and guided to continued sequential sales growth in the second quarter. We’re raising our fair value estimate to $260 from $245 to incorporate quicker rebounds for all its end markets. Littelfuse is executing well even in the face of continued COVID-19 headwinds and supply chain bottlenecks, and we expect the firm to continue outpacing its markets via growing content in end products. We currently view shares as fully valued and would recommend a greater margin of safety to invest.

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Company Profile

Business Description

Littelfuse is a leading provider of circuit protection products (such as fuses and relays) and other passive components, selling billions of units into the transportation, industrial, telecommunications, and consumer electronics end markets. The firm is also increasing its power semiconductor business, where it predominantly serves industrial end markets and is breaking into electric vehicle charging infrastructure.

Contact
8755 West Higgins Road, Suite 500
Chicago, IL, 60631
T +1 773 628-1000
Sector Technology
Industry Electronic Components
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 28, 2020
Stock Type Cyclical
Employees 12,200