Bel Fuse (NASDAQ:BELFB) Reaches New 12-Month High – Here’s What Happened
by Jessica Moore · The Cerbat GemBel Fuse Inc. (NASDAQ:BELFB – Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $210.17 and last traded at $210.75, with a volume of 69882 shares changing hands. The stock had previously closed at $205.17.
Analysts Set New Price Targets
Several analysts have recently weighed in on BELFB shares. Zacks Research cut shares of Bel Fuse from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 2nd. Wall Street Zen upgraded Bel Fuse from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Oppenheimer set a $180.00 price objective on Bel Fuse and gave the company an “outperform” rating in a research note on Friday, October 31st. Needham & Company LLC boosted their price objective on Bel Fuse from $168.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bel Fuse in a report on Monday, December 29th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.00.
Get Our Latest Research Report on BELFB
Bel Fuse Stock Up 1.3%
The company has a current ratio of 3.06, a quick ratio of 1.75 and a debt-to-equity ratio of 0.53. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 40.11, a P/E/G ratio of 2.09 and a beta of 1.56. The firm has a 50 day moving average price of $173.24 and a 200-day moving average price of $150.33.
Insider Activity
In related news, VP Joseph Berry sold 408 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $144.23, for a total transaction of $58,845.84. Following the transaction, the vice president directly owned 17,893 shares of the company’s stock, valued at approximately $2,580,707.39. The trade was a 2.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Kenneth Koon Keung Lai sold 1,936 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $144.23, for a total value 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 represents a 18.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 3,027 shares of company stock worth $435,034. Insiders own 5.37% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership bought a new position in Bel Fuse in the 3rd quarter worth approximately $14,537,000. Thrivent Financial for Lutherans boosted its position in shares of Bel Fuse by 66.8% in the third quarter. Thrivent Financial for Lutherans now owns 245,248 shares of the electronics maker’s stock worth $34,584,000 after buying an additional 98,178 shares during the period. Bessemer Group Inc. boosted its stake in shares of Bel Fuse by 28.3% during the 2nd quarter. Bessemer Group Inc. now owns 325,800 shares of the electronics maker’s stock valued at $31,827,000 after buying an additional 71,895 shares during the period. Wasatch Advisors LP raised its stake in shares of Bel Fuse by 33.6% during the 2nd quarter. Wasatch Advisors LP now owns 284,014 shares of the electronics maker’s stock worth $27,745,000 after purchasing an additional 71,390 shares in the last quarter. Finally, Portolan Capital Management LLC increased its stake in shares of Bel Fuse by 97.9% during the 3rd quarter. Portolan Capital Management LLC now owns 123,766 shares of the electronics maker’s stock worth $17,453,000 after purchasing an additional 61,240 shares during the last quarter. Institutional investors own 58.39% of the company’s stock.
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.