Bel Fuse (NASDAQ:BELFA) Share Price Crosses Above Fifty Day Moving Average – Here’s Why
by Jessica Moore · The Cerbat GemBel Fuse Inc. (NASDAQ:BELFA – Get Free Report)’s stock price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $197.78 and traded as high as $199.83. Bel Fuse shares last traded at $196.16, with a volume of 110,710 shares trading hands.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on BELFA. Weiss Ratings cut shares of Bel Fuse from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday, February 26th. Robert W. Baird set a $250.00 price objective on shares of Bel Fuse in a research note on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $250.00.
Read Our Latest Stock Analysis on Bel Fuse
Bel Fuse Price Performance
The company has a debt-to-equity ratio of 0.46, a current ratio of 3.02 and a quick ratio of 1.71. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 46.02 and a beta of 1.25. The business’s 50-day simple moving average is $198.33 and its two-hundred day simple moving average is $161.59.
Bel Fuse (NASDAQ:BELFA – Get Free Report) last issued its earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.78. Bel Fuse had a net margin of 9.11% and a return on equity of 21.78%. The firm had revenue of $175.94 million for the quarter, compared to analyst estimates of $172.01 million.
Bel Fuse Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th will be given a $0.06 dividend. The ex-dividend date is Wednesday, April 15th. This represents a $0.24 dividend on an annualized basis and a yield of 0.1%. Bel Fuse’s dividend payout ratio (DPR) is currently 5.16%.
Insider Buying and Selling
In other Bel Fuse news, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $234.00, for a total value of $7,948,278.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Peter E. Gilbert sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $238.75, for a total transaction of $1,074,375.00. Following the completion of the sale, the director owned 15,047 shares in the company, valued at $3,592,471.25. This represents a 23.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 5.46% of the company’s stock.
Hedge Funds Weigh In On Bel Fuse
A number of hedge funds have recently modified their holdings of the business. Sunbelt Securities Inc. acquired a new position in shares of Bel Fuse during the fourth quarter worth $61,000. Millennium Management LLC lifted its holdings in shares of Bel Fuse by 314.2% during 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 period. Aristeia Capital L.L.C. lifted its holdings in shares of Bel Fuse by 21.9% during the fourth quarter. Aristeia Capital L.L.C. now owns 11,094 shares of the scientific and technical instruments company’s stock worth $1,684,000 after purchasing an additional 1,994 shares during the period. Hound Partners LLC acquired a new position in shares of Bel Fuse during the fourth quarter worth $5,714,000. Finally, Nitor Capital Management LLC acquired a new position in shares of Bel Fuse during the fourth quarter worth $1,063,000. Institutional investors and hedge funds own 6.01% of the company’s stock.
About Bel Fuse
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.