Bel Fuse (NASDAQ:BELFB) Reaches New 52-Week High – Time to Buy?
by Sarita Garza · The Markets DailyShares of Bel Fuse Inc. (NASDAQ:BELFB – Get Free Report) hit a new 52-week high on Monday . The company traded as high as $190.69 and last traded at $187.4120, with a volume of 15760 shares changing hands. The stock had previously closed at $187.43.
Analysts Set New Price Targets
Several analysts recently weighed in on BELFB shares. Wall Street Zen upgraded Bel Fuse from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 21st. Oppenheimer set a $180.00 target price on Bel Fuse and gave the stock an “outperform” rating in a research note on Friday, October 31st. Weiss Ratings restated a “buy (b)” rating on shares of Bel Fuse in a research note on Monday, December 29th. Needham & Company LLC lifted their price target on shares of Bel Fuse from $130.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Northland Securities set a $188.00 price objective on shares of Bel Fuse in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $164.20.
Get Our Latest Report on BELFB
Bel Fuse Price Performance
The company has a 50 day moving average price of $163.67 and a 200-day moving average price of $142.66. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 36.53, a P/E/G ratio of 2.00 and a beta of 1.56. The company has a quick ratio of 1.75, a current ratio of 3.06 and a debt-to-equity ratio of 0.53.
Bel Fuse Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 15th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.1%. The ex-dividend date is Thursday, January 15th. Bel Fuse’s dividend payout ratio is 5.38%.
Insiders Place Their Bets
In related news, VP Kenneth Koon Keung Lai sold 1,936 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $144.23, for a total transaction of $279,229.28. Following the completion of the transaction, the vice president directly owned 8,319 shares of the company’s stock, valued at $1,199,849.37. This trade represents a 18.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joseph Berry sold 408 shares of Bel Fuse stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $144.23, for a total value of $58,845.84. Following the transaction, the vice president directly owned 17,893 shares in the company, valued at $2,580,707.39. The trade was a 2.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 3,027 shares of company stock worth $435,034. 5.37% of the stock is owned by company insiders.
Hedge Funds Weigh In On Bel Fuse
Hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp lifted its stake in shares of Bel Fuse by 139.8% in the third quarter. Jones Financial Companies Lllp now owns 259 shares of the electronics maker’s stock worth $37,000 after acquiring an additional 151 shares during the period. Federated Hermes Inc. raised its holdings in Bel Fuse by 52.5% during the 3rd quarter. Federated Hermes Inc. now owns 334 shares of the electronics maker’s stock worth $47,000 after purchasing an additional 115 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Bel Fuse in the 2nd quarter worth approximately $50,000. State of Alaska Department of Revenue bought a new stake in shares of Bel Fuse in the 3rd quarter valued at $78,000. Finally, BNP Paribas Financial Markets increased its position in shares of Bel Fuse by 60.0% during the second quarter. BNP Paribas Financial Markets now owns 1,000 shares of the electronics maker’s stock worth $98,000 after buying an additional 375 shares during the period. 58.39% of the stock is currently owned by institutional investors.
About Bel Fuse
Bel Fuse Inc is a global manufacturer of electronic components that bridge power, data and video applications. The company offers a comprehensive portfolio of products, including board-level circuit protection devices such as fuses, positive temperature coefficient (PTC) resistors and inductors; power transformers, modules and supplies; as well as connectivity solutions encompassing USB, HDMI, RJ45, coaxial and fiber-optic connectors. These products serve a wide array of end markets, including telecommunications, data communications, consumer electronics, industrial automation, automotive and renewable energy.
Founded in 1949 and headquartered in Oradell, New Jersey, Bel Fuse has grown through organic expansion and strategic acquisitions.