New York-based Harvey Partners added 41,763 shares of Littelfuse in the third quarter, increasing its position value by $13 million. As of September 30, they held 108,700 shares valued at $28.2 million. The fund’s stake in Littelfuse now stands at 2.5% of their 13F assets under management.

According to a November 14 SEC filing, Harvey Partners disclosed an increase in their Littelfuse stake by 41,763 shares. The total post-trade position is 108,700 shares valued at $28.2 million as of September 30. Littelfuse now accounts for 2.5% of the fund’s 13F assets under management.

Littelfuse reported a revenue of $2.3 billion and a net income of $118.6 million over the trailing twelve months. The dividend yield stands at 1.2%, with a share price of $259.55 as of the market close on Friday.

Littelfuse manufactures and sells circuit protection, power control, and sensing products, serving various industries. The company’s revenue is generated through product sales to OEMs, distributors, and direct customers globally.

Harvey Partners’ increased exposure to Littelfuse signals confidence in the company’s performance. Littelfuse reported a 10% year-over-year revenue growth in the third quarter, with strong sales in the electronics segment. The fund’s decision aligns with targeting industrial technology names with durable demand.

The Motley Fool highlights why Harvey Partners’ $28 million bet on Littelfuse could be significant. The hedge fund’s move into the company is based on its strong fundamentals, resilience, and growth potential despite market fluctuations. This strategic investment reflects confidence in Littelfuse’s ability to deliver results in the long term.

Read more at Yahoo Finance: Why One Hedge Fund Has a $28 Million Bet on This Electronics Manufacturing Stock