Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Littelfuse
So what: Revenue view was increased to $167 million in Q1 from $156 million to $165 million. Earnings per share are now expected to be $0.96 to $0.98, up from $0.83 to $0.97 previously.
Now what: The increased guidance brought in at least one big buyer at the market open, but that exuberance died down quickly as the day wore on. Now trading up 5%, the stock is still very attractive considering the company will easily trounce the $0.89 analysts were expecting this quarter, and the stock was only trading at a forward P/E ratio of 13 before today's news. I think this is a nice buying opportunity and shares will continue to trade higher in the future.
Interested in more info on Littelfuse? Add it to your watchlist.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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