Bel Fuse Inc. (NASDAQ:BELFB – Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $298.22, but opened at $282.80. Bel Fuse shares last traded at $274.2670, with a volume of 40,357 shares trading hands.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on BELFB. Northland Securities set a $321.00 price target on shares of Bel Fuse in a research note on Monday, May 4th. Needham & Company LLC increased their price target 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. Wall Street Zen cut shares of Bel Fuse from a “buy” rating to a “hold” rating in a research note on Monday, March 16th. Weiss Ratings raised shares of Bel Fuse from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Finally, Robert W. Baird set a $293.00 price target on shares of Bel Fuse in a research note on Friday, May 1st. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.25.
Get Our Latest Stock Report on Bel Fuse
Bel Fuse Trading Down 7.2%
Bel Fuse Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.1%. Bel Fuse’s payout ratio is presently 6.38%.
Insider Activity
In other news, Director Peter E. Gilbert sold 4,500 shares of Bel Fuse stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $238.75, for a total value of $1,074,375.00. Following the sale, the director owned 15,047 shares of the company’s stock, valued at $3,592,471.25. The trade was a 23.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of Bel Fuse stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $234.00, for a total transaction of $7,948,278.00. Additional details regarding this sale are available in the official SEC disclosure. 5.37% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its holdings in Bel Fuse by 74.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 834,261 shares of the electronics maker’s stock valued at $141,517,000 after buying an additional 355,563 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Bel Fuse by 19.2% in the fourth quarter. Janus Henderson Group PLC now owns 619,337 shares of the electronics maker’s stock valued at $105,016,000 after buying an additional 99,834 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Bel Fuse by 45.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 519,005 shares of the electronics maker’s stock valued at $88,039,000 after buying an additional 161,736 shares in the last quarter. Wasatch Advisors LP increased its holdings in Bel Fuse by 16.6% in the first quarter. Wasatch Advisors LP now owns 478,709 shares of the electronics maker’s stock valued at $94,775,000 after buying an additional 68,222 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Bel Fuse by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 267,950 shares of the electronics maker’s stock valued at $45,460,000 after buying an additional 2,803 shares in the last quarter. 58.39% of the stock is owned by hedge funds and other institutional investors.
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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