Bel Fuse (NASDAQ:BELFB) Hits New 1-Year High at $77.00

Bel Fuse Inc. (NASDAQ:BELFB)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $77.00 and last traded at $76.64, with a volume of 17666 shares. The stock had previously closed at $69.47.

Wall Street Analyst Weigh In

BELFB has been the topic of several recent analyst reports. Needham & Company LLC boosted their target price on Bel Fuse from $68.00 to $79.00 and gave the stock a “buy” rating in a report on Friday, July 26th. StockNews.com raised Bel Fuse from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Northland Capmk raised Bel Fuse from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 5th. Finally, Northland Securities raised Bel Fuse from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Thursday, September 5th.

Bel Fuse Stock Down 1.4 %

The business has a 50-day moving average price of $67.21 and a 200-day moving average price of $63.90. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 13.43 and a beta of 1.34. The company has a quick ratio of 2.76, a current ratio of 4.19 and a debt-to-equity ratio of 0.17.

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

Bel Fuse Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Tuesday, October 15th. Bel Fuse’s payout ratio is 4.71%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC increased its position in Bel Fuse by 4.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,700 shares of the electronics maker’s stock worth $314,000 after purchasing an additional 200 shares during the last quarter. Beach Investment Counsel Inc. PA acquired a new position in Bel Fuse in the 2nd quarter worth about $25,000. Comerica Bank increased its position in Bel Fuse by 223.7% in the 1st quarter. Comerica Bank now owns 738 shares of the electronics maker’s stock worth $45,000 after purchasing an additional 510 shares during the last quarter. New York State Teachers Retirement System increased its position in Bel Fuse by 373.5% in the 1st quarter. New York State Teachers Retirement System now owns 947 shares of the electronics maker’s stock worth $57,000 after purchasing an additional 747 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Bel Fuse by 4.9% in the 2nd quarter. Rhumbline Advisers now owns 16,766 shares of the electronics maker’s stock worth $1,094,000 after purchasing an additional 787 shares during the last quarter. 58.39% of the stock is owned by institutional investors and hedge funds.

About Bel Fuse

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.