Bel Fuse (NASDAQ:BELFB) Director Sells $95,738.73 in Stock

by · The Markets Daily

Bel Fuse Inc. (NASDAQ:BELFBGet Free Report) Director Vincent Vellucci sold 393 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $243.61, for a total transaction of $95,738.73. Following the transaction, the director directly owned 8,434 shares in the company, valued at approximately $2,054,606.74. This represents a 4.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Bel Fuse Stock Performance

NASDAQ:BELFB traded up $3.00 during trading hours on Friday, reaching $242.88. The company’s stock had a trading volume of 76,732 shares, compared to its average volume of 231,467. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 58.61, a PEG ratio of 2.55 and a beta of 1.71. The firm has a 50-day simple moving average of $273.11 and a 200-day simple moving average of $257.00. Bel Fuse Inc. has a 1 year low of $129.94 and a 1 year high of $335.29.

Bel Fuse Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Thursday, October 15th. Bel Fuse’s payout ratio is 6.76%.

Institutional Investors Weigh In On Bel Fuse

Large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Bel Fuse by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,127 shares of the electronics maker’s stock valued at $459,000 after acquiring an additional 240 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Bel Fuse by 1.2% during the second quarter. JPMorgan Chase & Co. now owns 9,939 shares of the electronics maker’s stock valued at $971,000 after purchasing an additional 116 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Bel Fuse by 2.5% during the second quarter. Rhumbline Advisers now owns 15,972 shares of the electronics maker’s stock valued at $1,560,000 after purchasing an additional 383 shares in the last quarter. Sei Investments Co. bought a new position in Bel Fuse during the 2nd quarter valued at approximately $312,000. Finally, The Manufacturers Life Insurance Company raised its stake in Bel Fuse by 9.3% during the second quarter. The Manufacturers Life Insurance Company now owns 3,953 shares of the electronics maker’s stock valued at $386,000 after buying an additional 337 shares during the last quarter. 58.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on BELFB. Northland Securities set a $326.00 price target on Bel Fuse in a research note on Friday, July 31st. Wall Street Zen raised Bel Fuse from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Citigroup initiated coverage on shares of Bel Fuse in a report on Monday, July 13th. They issued a “buy” rating on the stock. Weiss Ratings downgraded shares of Bel Fuse from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Finally, Bank of America initiated coverage on shares of Bel Fuse in a report on Tuesday, July 14th. They set a “buy” rating and a $330.00 price target for the company. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Bel Fuse has an average rating of “Moderate Buy” and an average target price of $324.00.

View Our Latest Report on Bel Fuse

About Bel Fuse

(Get Free Report)

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.

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