Bel Fuse (NASDAQ:BELFB) Reaches New 52-Week High – Time to Buy?

Bel Fuse Inc. (NASDAQ:BELFB)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $161.66 and last traded at $163.9650, with a volume of 213576 shares traded. The stock had previously closed at $160.16.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Oppenheimer set a $180.00 price objective on Bel Fuse and gave the stock an “outperform” rating in a research note on Friday, October 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Bel Fuse in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Bel Fuse from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. Needham & Company LLC lifted their price objective on shares of Bel Fuse from $130.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Robert W. Baird set a $170.00 price target on Bel Fuse in a research report on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $164.20.

Bel Fuse Trading Up 0.8%

The company’s fifty day simple moving average is $146.71 and its 200-day simple moving average is $114.98. The firm has a market capitalization of $2.06 billion, a PE ratio of 31.30, a P/E/G ratio of 1.86 and a beta of 1.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.05 and a quick ratio of 1.72.

Bel Fuse Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Thursday, January 15th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.2%. Bel Fuse’s dividend payout ratio (DPR) is currently 5.38%.

Hedge Funds Weigh In On Bel Fuse

A number of hedge funds have recently made changes to their positions in BELFB. NEOS Investment Management LLC boosted its stake in shares of Bel Fuse by 2.3% in the third quarter. NEOS Investment Management LLC now owns 52,896 shares of the electronics maker’s stock worth $7,459,000 after acquiring an additional 1,179 shares during the last quarter. Templeton & Phillips Capital Management LLC purchased a new position in Bel Fuse in the 3rd quarter valued at $203,000. Navellier & Associates Inc. purchased a new position in Bel Fuse in the 3rd quarter valued at $466,000. Savant Capital LLC acquired a new stake in Bel Fuse during the 3rd quarter worth $208,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Bel Fuse by 40.5% during the third quarter. Envestnet Asset Management Inc. now owns 4,359 shares of the electronics maker’s stock worth $615,000 after buying an additional 1,256 shares in 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 power, protect, and connect electronic circuits. The company’s products are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries.