Bel Fuse (NASDAQ:BELFA) Posts Quarterly Earnings Results, Beats Estimates By $0.78 EPS

Bel Fuse (NASDAQ:BELFA) issued its quarterly earnings results on Tuesday. The scientific and technical instruments company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.78, Zacks reports. Bel Fuse had a net margin of 9.11% and a return on equity of 22.08%. The business had revenue of $175.94 million for the quarter, compared to the consensus estimate of $172.01 million.

Bel Fuse Price Performance

NASDAQ:BELFA traded up $9.98 during trading hours on Thursday, hitting $216.81. 7,836 shares of the stock traded hands, compared to its average volume of 59,008. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 47.09 and a beta of 1.23. Bel Fuse has a 1 year low of $53.95 and a 1 year high of $227.42. The stock has a 50 day moving average price of $177.23 and a 200 day moving average price of $142.31. The company has a quick ratio of 1.75, a current ratio of 3.06 and a debt-to-equity ratio of 0.53.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Rhumbline Advisers increased its position in Bel Fuse by 41.5% during the first quarter. Rhumbline Advisers now owns 2,613 shares of the scientific and technical instruments company’s stock worth $188,000 after purchasing an additional 767 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Bel Fuse by 447.1% in the second quarter. Tower Research Capital LLC TRC now owns 744 shares of the scientific and technical instruments company’s stock worth $67,000 after acquiring an additional 608 shares during the period. JPMorgan Chase & Co. increased its stake in Bel Fuse by 6.8% during the third quarter. JPMorgan Chase & Co. now owns 2,351 shares of the scientific and technical instruments company’s stock worth $274,000 after acquiring an additional 150 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Bel Fuse by 13.9% in the 3rd quarter. Vanguard Group Inc. now owns 52,614 shares of the scientific and technical instruments company’s stock valued at $6,122,000 after purchasing an additional 6,408 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Bel Fuse by 92.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 319 shares of the scientific and technical instruments company’s stock worth $37,000 after purchasing an additional 153 shares during the period. 6.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BELFA shares. Robert W. Baird set a $250.00 price target on Bel Fuse in a report on Thursday. Weiss Ratings upgraded Bel Fuse from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $182.50.

About Bel Fuse

Bel Fuse Inc, incorporated in 1949 and headquartered in Jersey City, New Jersey, designs and manufactures a broad range of electronic components aimed at ensuring reliable power delivery, circuit protection and signal connectivity. The company operates through two primary segments—Power Solutions Group and Telecom Products Group—serving original equipment manufacturers in multiple end markets, including telecommunications, data communications, consumer electronics, industrial and transportation.

Within its Power Solutions Group, Bel Fuse offers magnetic components such as power and signal transformers, inductors and coils, as well as circuit protection devices including fuses and resettable polyfuses.