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

Shares of Bel Fuse Inc. (NASDAQ:BELFB) hit a new 52-week high on Wednesday . The stock traded as high as $82.00 and last traded at $81.98, with a volume of 7448 shares. The stock had previously closed at $80.86.

Analyst Ratings Changes

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

Bel Fuse Price Performance

The company has a market cap of $1.03 billion, a price-to-earnings ratio of 13.70 and a beta of 1.34. The company has a current ratio of 4.19, a quick ratio of 2.76 and a debt-to-equity ratio of 0.17. The company has a fifty day moving average price of $69.33 and a two-hundred day moving average price of $65.93.

Bel Fuse (NASDAQ:BELFB) last posted its earnings results on Wednesday, July 24th. The electronics maker reported $1.50 EPS for the quarter, topping the consensus estimate of $0.92 by $0.58. Bel Fuse had a return on equity of 20.97% and a net margin of 11.81%. The business had revenue of $133.21 million during the quarter, compared to the consensus estimate of $130.27 million. During the same quarter last year, the company earned $1.95 EPS. As a group, equities research analysts anticipate that Bel Fuse Inc. will post 4.52 EPS for the current fiscal year.

Bel Fuse Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.34%. Bel Fuse’s dividend payout ratio (DPR) is presently 4.71%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BELFB. Renaissance Technologies LLC grew its holdings in shares of Bel Fuse by 1.3% in the 2nd quarter. Renaissance Technologies LLC now owns 309,851 shares of the electronics maker’s stock valued at $20,215,000 after acquiring an additional 4,027 shares in the last quarter. American Century Companies Inc. grew its stake in Bel Fuse by 11.6% in the second quarter. American Century Companies Inc. now owns 276,265 shares of the electronics maker’s stock valued at $18,024,000 after purchasing an additional 28,649 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Bel Fuse by 277.2% in the second quarter. Thrivent Financial for Lutherans now owns 167,496 shares of the electronics maker’s stock valued at $10,927,000 after purchasing an additional 123,092 shares in the last quarter. Ophir Asset Management Pty Ltd acquired a new position in shares of Bel Fuse during the 4th quarter worth approximately $6,572,000. Finally, Paragon Associates & Paragon Associates II Joint Venture bought a new stake in shares of Bel Fuse during the 1st quarter worth approximately $3,619,000. 58.39% of the stock is owned by institutional investors and hedge funds.

Bel Fuse Company Profile

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.