Bel Fuse (NASDAQ:BELFB) Reaches New 52-Week High on Analyst Upgrade

Bel Fuse Inc. (NASDAQ:BELFB) shares hit a new 52-week high on Thursday after Robert W. Baird raised their price target on the stock from $130.00 to $154.00. Robert W. Baird currently has an outperform rating on the stock. Bel Fuse traded as high as $142.52 and last traded at $141.74, with a volume of 43526 shares. The stock had previously closed at $138.07.

Other research analysts also recently issued reports about the company. Wall Street Zen downgraded Bel Fuse from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 23rd. Northland Securities raised their price objective on shares of Bel Fuse from $93.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, June 30th. Oppenheimer set a $125.00 price objective on shares of Bel Fuse and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Needham & Company LLC raised their price objective on shares of Bel Fuse from $116.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Finally, Baird R W upgraded Bel Fuse to a “strong-buy” rating in a research note on Tuesday, June 10th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $126.80.

Insider Activity at Bel Fuse

In other Bel Fuse news, VP Kenneth Koon Keung Lai sold 1,900 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $128.00, for a total value of $243,200.00. Following the sale, the vice president owned 10,255 shares in the company, valued at $1,312,640. This trade represents a 15.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Stephen Dawson sold 1,200 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $127.07, for a total value of $152,484.00. Following the completion of the transaction, the insider owned 14,265 shares of the company’s stock, valued at $1,812,653.55. The trade was a 7.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,100 shares of company stock valued at $731,804. 5.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bel Fuse

A number of institutional investors have recently modified their holdings of BELFB. Vanguard Group Inc. increased its position in shares of Bel Fuse by 1.4% during the first quarter. Vanguard Group Inc. now owns 917,097 shares of the electronics maker’s stock valued at $68,654,000 after acquiring an additional 12,808 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Bel Fuse by 55.4% during the fourth quarter. Janus Henderson Group PLC now owns 398,123 shares of the electronics maker’s stock valued at $32,821,000 after acquiring an additional 141,951 shares during the last quarter. American Century Companies Inc. increased its position in shares of Bel Fuse by 1.5% during the first quarter. American Century Companies Inc. now owns 357,131 shares of the electronics maker’s stock valued at $26,735,000 after acquiring an additional 5,376 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Bel Fuse by 28.3% during the second quarter. Bessemer Group Inc. now owns 325,800 shares of the electronics maker’s stock valued at $31,827,000 after acquiring an additional 71,895 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Bel Fuse by 2.6% during the second quarter. Geode Capital Management LLC now owns 321,922 shares of the electronics maker’s stock valued at $31,451,000 after acquiring an additional 8,243 shares during the last quarter. 58.39% of the stock is owned by institutional investors and hedge funds.

Bel Fuse Stock Up 3.6%

The company has a quick ratio of 1.72, a current ratio of 3.05 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $1.81 billion, a PE ratio of 35.06, a P/E/G ratio of 1.79 and a beta of 1.59. The stock has a 50-day moving average of $119.71 and a 200 day moving average of $91.08.

Bel Fuse Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 15th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.2%. This is a positive change from Bel Fuse’s previous quarterly dividend of $0.06. Bel Fuse’s dividend payout ratio (DPR) is presently 6.86%.

Bel Fuse Company Profile

Bel Fuse Inc designs, manufactures, markets, and sells products that power, protect, and connect electronic circuits. The company’s products are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries.