Bel Fuse Inc. (NASDAQ:BELFA – Get Free Report)’s stock price traded down 4.3% during mid-day trading on Monday . The company traded as low as $211.33 and last traded at $213.5990. Approximately 60,211 shares changed hands during trading, a decline of 44% from the average session volume of 107,190 shares. The stock had previously closed at $223.13.
Wall Street Analysts Forecast Growth
BELFA has been the topic of several recent research reports. Citigroup initiated coverage on shares of Bel Fuse in a research report on Monday, July 13th. They issued a “buy” rating on the stock. Weiss Ratings lowered Bel Fuse from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $250.00.
Read Our Latest Report on Bel Fuse
Bel Fuse Trading Down 3.9%
Bel Fuse (NASDAQ:BELFA – Get Free Report) last announced its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.76 EPS for the quarter, topping the consensus estimate of $2.34 by $0.42. The company had revenue of $210.69 million during the quarter, compared to analysts’ expectations of $206.39 million. Bel Fuse had a net margin of 7.21% and a return on equity of 20.55%.
Hedge Funds Weigh In On Bel Fuse
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its stake in 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 valued at $37,000 after purchasing an additional 153 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Bel Fuse by 6,000.0% in the first quarter. PNC Financial Services Group Inc. now owns 305 shares of the scientific and technical instruments company’s stock worth $55,000 after buying an additional 300 shares during the period. Sunbelt Securities Inc. purchased a new position in shares of Bel Fuse during the fourth quarter valued at $61,000. Tower Research Capital LLC TRC increased its holdings in shares of Bel Fuse by 447.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 744 shares of the scientific and technical instruments company’s stock valued at $67,000 after purchasing an additional 608 shares during the period. Finally, Deutsche Bank AG purchased a new stake in shares of Bel Fuse in the fourth quarter worth approximately $111,000. 6.01% of the stock is currently owned by hedge funds and other 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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