Bel Fuse (NASDAQ:BELFB) Sets New 1-Year High – Here’s Why

Bel Fuse Inc. (NASDAQ:BELFB)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $204.43 and last traded at $201.5950, with a volume of 79468 shares changing hands. The stock had previously closed at $200.11.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Robert W. Baird set a $170.00 target price on shares of Bel Fuse in a research note on Friday, October 31st. Zacks Research lowered Bel Fuse from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 2nd. Needham & Company LLC boosted their target price on Bel Fuse from $168.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, January 14th. Wall Street Zen downgraded shares of Bel Fuse from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Northland Securities set a $188.00 target price on shares of Bel Fuse in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $173.00.

Bel Fuse Price Performance

The company has a 50 day simple moving average of $167.97 and a 200-day simple moving average of $146.81. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 38.69, a PEG ratio of 2.13 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 15th will be paid a $0.07 dividend. The ex-dividend date is Thursday, January 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.1%. Bel Fuse’s dividend payout ratio (DPR) is presently 5.38%.

Insiders Place Their Bets

In other Bel Fuse news, VP Joseph Berry sold 408 shares of the business’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 $58,845.84. Following the completion of the transaction, the vice president owned 17,893 shares in the company, valued at approximately $2,580,707.39. The trade was a 2.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Kenneth Koon Keung Lai sold 1,936 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $144.23, for a total value of $279,229.28. Following the transaction, the vice president directly owned 8,319 shares in the company, valued at $1,199,849.37. This trade represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,027 shares of company stock valued at $435,034 in the last quarter. 5.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System lifted its position in Bel Fuse by 3.3% in the 3rd quarter. Arizona State Retirement System now owns 3,112 shares of the electronics maker’s stock worth $439,000 after buying an additional 99 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Bel Fuse by 6.7% during the second quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the electronics maker’s stock worth $156,000 after acquiring an additional 100 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Bel Fuse by 3.0% in the second quarter. Janney Montgomery Scott LLC now owns 3,862 shares of the electronics maker’s stock valued at $377,000 after purchasing an additional 113 shares in the last quarter. Federated Hermes Inc. increased its position in Bel Fuse by 52.5% in 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. Finally, JPMorgan Chase & Co. increased its position in Bel Fuse by 1.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 9,939 shares of the electronics maker’s stock worth $971,000 after purchasing an additional 116 shares during the last quarter. 58.39% of the stock is owned by hedge funds and other institutional investors.

Bel Fuse Company Profile

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.