Bel Fuse Inc. (NASDAQ:BELFB – Get Free Report) shares traded down 4.4% on Thursday . The stock traded as low as $306.15 and last traded at $304.0710. Approximately 21,396 shares were traded during mid-day trading, a decline of 91% from the average session volume of 227,909 shares. The stock had previously closed at $318.06.
Wall Street Analyst Weigh In
BELFB has been the topic of a number of recent research reports. Northland Securities set a $321.00 price target on shares of Bel Fuse in a research note on Monday, May 4th. Wall Street Zen cut shares of Bel Fuse from a “buy” rating to a “hold” rating in a research note on Monday, March 16th. Robert W. Baird set a $293.00 target price on shares of Bel Fuse in a report on Friday, May 1st. Needham & Company LLC upped their target price on shares of Bel Fuse from $250.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $315.00 price target on shares of Bel Fuse in a report on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $319.80.
Get Our Latest Stock Analysis on Bel Fuse
Bel Fuse Price Performance
Bel Fuse Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, July 15th. Bel Fuse’s dividend payout ratio is 6.38%.
Institutional Trading of Bel Fuse
Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its stake in shares of Bel Fuse by 20.2% during the first quarter. PNC Financial Services Group Inc. now owns 286 shares of the electronics maker’s stock valued at $57,000 after buying an additional 48 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Bel Fuse by 1.1% in the first quarter. The Manufacturers Life Insurance Company now owns 4,782 shares of the electronics maker’s stock worth $947,000 after buying an additional 50 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Bel Fuse by 2.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,087 shares of the electronics maker’s stock worth $693,000 after acquiring an additional 79 shares during the last quarter. PFG Advisors lifted its stake in shares of Bel Fuse by 1.3% during the 4th quarter. PFG Advisors now owns 6,656 shares of the electronics maker’s stock worth $1,129,000 after acquiring an additional 84 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Bel Fuse by 0.9% during the 1st quarter. Bank of America Corp DE now owns 10,348 shares of the electronics maker’s stock valued at $2,049,000 after acquiring an additional 89 shares during the period. 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.
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