Bel Fuse Inc. (NASDAQ:BELFB – Get Free Report)’s stock price was down 7.5% on Monday . The company traded as low as $254.42 and last traded at $252.35. 29,728 shares were traded during mid-day trading, a decline of 87% from the average session volume of 234,070 shares. The stock had previously closed at $272.80.
Wall Street Analyst Weigh In
BELFB has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. began coverage on Bel Fuse in a research note on Wednesday, June 10th. They set an “overweight” rating and a $370.00 price target on the stock. Zacks Research lowered Bel Fuse from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. Robert W. Baird set a $293.00 target price on Bel Fuse in a research report on Friday, May 1st. Needham & Company LLC upped their price objective on shares of Bel Fuse from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, Bank of America assumed coverage on shares of Bel Fuse in a report on Tuesday, July 14th. They set a “buy” rating and a $330.00 price objective on the stock. Eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $321.50.
Read Our Latest Report on BELFB
Bel Fuse Trading Down 6.7%
Bel Fuse Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be paid a dividend of $0.07 per share. The ex-dividend date is Wednesday, July 15th. This represents a $0.28 annualized dividend and a yield of 0.1%. Bel Fuse’s dividend payout ratio is currently 6.38%.
Hedge Funds Weigh In On Bel Fuse
Several hedge funds and other institutional investors have recently modified their holdings of BELFB. Farther Finance Advisors LLC grew its holdings in shares of Bel Fuse by 365.6% during the 4th quarter. Farther Finance Advisors LLC now owns 149 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 117 shares during the period. State of Wyoming acquired a new position in Bel Fuse during the first quarter valued at approximately $30,000. KBC Group NV acquired a new position in Bel Fuse during the first quarter valued at approximately $38,000. Kemnay Advisory Services Inc. purchased a new stake in Bel Fuse during the fourth quarter worth approximately $33,000. Finally, Signature Equity Partners LLC purchased a new stake in Bel Fuse during the first quarter worth approximately $39,000. 58.39% of the stock is owned by institutional investors and hedge funds.
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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