Bel Fuse (NASDAQ:BELFA) Shares Gap Down – Should You Sell?
by Amy Steele · The Cerbat GemBel Fuse Inc. (NASDAQ:BELFA – Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $269.21, but opened at $255.04. Bel Fuse shares last traded at $246.4560, with a volume of 3,237 shares traded.
Analysts Set New Price Targets
A number of brokerages have issued reports on BELFA. Robert W. Baird set a $250.00 target price on Bel Fuse in a report on Thursday, February 19th. Weiss Ratings raised Bel Fuse from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $250.00.
View Our Latest Report on BELFA
Bel Fuse Trading Down 8.2%
The company has a market cap of $3.13 billion, a price-to-earnings ratio of 59.72 and a beta of 1.42. The firm has a 50 day moving average price of $212.35 and a two-hundred day moving average price of $180.69. The company has a quick ratio of 1.73, a current ratio of 3.18 and a debt-to-equity ratio of 0.47.
Bel Fuse (NASDAQ:BELFA – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.10. Bel Fuse had a return on equity of 22.38% and a net margin of 7.84%.The company had revenue of $178.49 million during the quarter, compared to analysts’ expectations of $172.07 million.
Bel Fuse Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Wednesday, April 15th were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, April 15th. This represents a $0.24 annualized dividend and a dividend yield of 0.1%. Bel Fuse’s dividend payout ratio is presently 5.78%.
Insider Activity
In related news, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $234.00, for a total transaction of $7,948,278.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter E. Gilbert sold 4,500 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $238.75, for a total value of $1,074,375.00. Following the sale, the director owned 15,047 shares in the company, valued at approximately $3,592,471.25. The trade was a 23.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.75% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in BELFA. Hound Partners LLC bought a new position in Bel Fuse in the fourth quarter worth approximately $5,714,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Bel Fuse in the third quarter worth approximately $1,628,000. Citadel Advisors LLC raised its stake in shares of Bel Fuse by 434.9% in the third quarter. Citadel Advisors LLC now owns 13,336 shares of the scientific and technical instruments company’s stock worth $1,552,000 after purchasing an additional 10,843 shares during the last quarter. Millennium Management LLC raised its stake in shares of Bel Fuse by 314.2% in the fourth quarter. Millennium Management LLC now owns 12,729 shares of the scientific and technical instruments company’s stock worth $1,932,000 after purchasing an additional 9,656 shares during the last quarter. Finally, Nitor Capital Management LLC purchased a new stake in shares of Bel Fuse in the fourth quarter worth approximately $1,063,000. Institutional investors own 6.01% of the company’s stock.
Bel Fuse Company Profile
Bel Fuse Inc, incorporated in 1949 and headquartered in Jersey City, New Jersey, designs and manufactures a broad range of electronic components aimed at ensuring reliable power delivery, circuit protection and signal connectivity. The company operates through two primary segments—Power Solutions Group and Telecom Products Group—serving original equipment manufacturers in multiple end markets, including telecommunications, data communications, consumer electronics, industrial and transportation.
Within its Power Solutions Group, Bel Fuse offers magnetic components such as power and signal transformers, inductors and coils, as well as circuit protection devices including fuses and resettable polyfuses.