Bel Fuse (NASDAQ:BELFB) Reaches New 52-Week High at $77.00

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

Wall Street Analyst Weigh In

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

Bel Fuse Price Performance

The company has a quick ratio of 2.76, a current ratio of 4.19 and a debt-to-equity ratio of 0.17. The company’s fifty day moving average is $66.76 and its 200 day moving average is $63.61. The stock has a market cap of $951.55 million, a PE ratio of 12.83 and a beta of 1.34.

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

Bel Fuse Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Tuesday, October 15th. Bel Fuse’s payout ratio is currently 4.71%.

Institutional Investors Weigh In On Bel Fuse

A number of institutional investors have recently modified their holdings of BELFB. Creative Planning bought a new stake in shares of Bel Fuse in the 2nd quarter valued at approximately $344,000. III Capital Management acquired a new position in Bel Fuse in the second quarter worth $391,000. Thrivent Financial for Lutherans increased its stake in Bel Fuse by 277.2% during 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 during the last quarter. DHK Financial Advisors Inc. acquired a new stake in shares of Bel Fuse during the second quarter worth $335,000. Finally, Renaissance Technologies LLC lifted its position 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 worth $20,215,000 after buying an additional 4,027 shares during the last quarter. Institutional investors and hedge funds own 58.39% of the company’s stock.

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.