Bel Fuse (NASDAQ:BELFB) Reaches New 1-Year High – Here’s Why

by · The Markets Daily

Bel Fuse Inc. (NASDAQ:BELFB – Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $85.08 and last traded at $84.69, with a volume of 22903 shares changing hands. The stock had previously closed at $84.72.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BELFB shares. Needham & Company LLC lifted their target price on shares of Bel Fuse from $68.00 to $79.00 and gave the company a “buy” rating in a report on Friday, July 26th. Northland Capmk raised Bel Fuse from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 5th. StockNews.com raised Bel Fuse from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Northland Securities lifted their price target on Bel Fuse from $80.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st.

Read Our Latest Research Report on Bel Fuse

Bel Fuse Trading Down 0.4 %

The business has a 50-day moving average of $71.49 and a 200 day moving average of $66.88. The stock has a market cap of $1.07 billion, a PE ratio of 14.24 and a beta of 1.34. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.76 and a current ratio of 4.19.

Bel Fuse (NASDAQ:BELFB – Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.58. The business had revenue of $133.21 million during the quarter, compared to the consensus estimate of $130.27 million. Bel Fuse had a net margin of 11.81% and a return on equity of 20.97%. During the same period in the previous year, the firm posted $1.95 earnings per share. Equities research analysts predict that Bel Fuse Inc. will post 4.52 EPS for the current fiscal year.

Bel Fuse Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.07 per share. The ex-dividend date is Tuesday, October 15th. This represents a $0.28 annualized dividend and a yield of 0.33%. Bel Fuse’s dividend payout ratio is currently 4.71%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BELFB. Beach Investment Counsel Inc. PA acquired a new stake in shares of Bel Fuse during the second quarter valued at about $25,000. nVerses Capital LLC purchased a new stake in Bel Fuse during the 3rd quarter worth approximately $39,000. Comerica Bank raised its position in shares of Bel Fuse by 223.7% in the 1st quarter. Comerica Bank now owns 738 shares of the electronics maker’s stock valued at $45,000 after purchasing an additional 510 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Bel Fuse by 4.9% during the 2nd quarter. Rhumbline Advisers now owns 16,766 shares of the electronics maker’s stock valued at $1,094,000 after buying an additional 787 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Bel Fuse by 10.5% during the second quarter. Principal Financial Group Inc. now owns 8,631 shares of the electronics maker’s stock worth $563,000 after buying an additional 823 shares in the last quarter. Institutional investors and hedge funds own 58.39% of the company’s stock.

About Bel Fuse

(Get Free Report)

Bel Fuse Inc designs, manufactures, markets, and sells products that are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries in the United States, the People's Republic of China, Macao, the United Kingdom, Slovakia, Germany, India, Switzerland, and internationally.

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