Bel Fuse (NASDAQ:BELFA – Get Free Report) announced its earnings results on Wednesday. The scientific and technical instruments company reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.42, FiscalAI reports. Bel Fuse had a net margin of 7.84% and a return on equity of 22.38%. The business had revenue of $210.69 million for the quarter, compared to analyst estimates of $206.39 million.
Bel Fuse Price Performance
NASDAQ BELFA traded down $7.51 on Wednesday, hitting $202.44. 190,980 shares of the company were exchanged, compared to its average volume of 106,024. Bel Fuse has a 1-year low of $107.51 and a 1-year high of $293.51. The firm has a 50 day moving average of $245.26 and a two-hundred day moving average of $220.68. The company has a current ratio of 3.18, a quick ratio of 1.73 and a debt-to-equity ratio of 0.47. The company has a market cap of $2.58 billion, a P/E ratio of 48.78 and a beta of 1.37.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on BELFA. Citigroup started coverage on shares of Bel Fuse in a report on Monday, July 13th. They set a “buy” rating on the stock. Weiss Ratings upgraded Bel Fuse from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $250.00.
Hedge Funds Weigh In On Bel Fuse
A number of institutional investors have recently modified their holdings of BELFA. Sunbelt Securities Inc. acquired a new position in shares of Bel Fuse during the fourth quarter worth approximately $61,000. Millennium Management LLC lifted its holdings in Bel Fuse by 314.2% during the 4th quarter. Millennium Management LLC now owns 12,729 shares of the scientific and technical instruments company’s stock worth $1,932,000 after buying an additional 9,656 shares in the last quarter. Hound Partners LLC acquired a new position in Bel Fuse during the 4th quarter worth $5,714,000. Nitor Capital Management LLC bought a new position in Bel Fuse in the 4th quarter valued at $1,063,000. Finally, Sagefield Capital LP bought a new position in Bel Fuse in the 4th quarter valued at $902,000. 6.01% of the stock is owned by institutional investors.
Bel Fuse Company Profile
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.
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