Bel Fuse (NASDAQ:BELFA) Sets New 1-Year High on Strong Earnings

Shares of Bel Fuse Inc. (NASDAQ:BELFA) reached a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $227.42 and last traded at $222.2690, with a volume of 5134 shares. The stock had previously closed at $216.04.

The scientific and technical instruments company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.78. The company had revenue of $175.94 million during the quarter, compared to the consensus estimate of $172.01 million. Bel Fuse had a net margin of 9.11% and a return on equity of 22.08%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Bel Fuse from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to data from MarketBeat, Bel Fuse has an average rating of “Buy” and an average price target of $115.00.

Hedge Funds Weigh In On Bel Fuse

Hedge funds and other institutional investors have recently bought and sold shares of the business. Gabelli Funds LLC boosted its position in shares of Bel Fuse by 0.3% in the 2nd quarter. Gabelli Funds LLC now owns 67,400 shares of the scientific and technical instruments company’s stock worth $6,056,000 after purchasing an additional 200 shares during the last quarter. Vanguard Group Inc. lifted its stake in Bel Fuse by 13.9% in the third quarter. Vanguard Group Inc. now owns 52,614 shares of the scientific and technical instruments company’s stock valued at $6,122,000 after buying an additional 6,408 shares during the period. Hound Partners LLC bought a new position in Bel Fuse during the fourth quarter worth about $5,714,000. Geode Capital Management LLC boosted its holdings in Bel Fuse by 7.7% during the fourth quarter. Geode Capital Management LLC now owns 37,606 shares of the scientific and technical instruments company’s stock worth $5,709,000 after buying an additional 2,674 shares during the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV grew its position in shares of Bel Fuse by 0.4% during the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 26,151 shares of the scientific and technical instruments company’s stock worth $3,043,000 after buying an additional 100 shares during the period. 6.01% of the stock is owned by institutional investors.

Bel Fuse Trading Down 4.3%

The company has a market capitalization of $2.62 billion, a P/E ratio of 44.48 and a beta of 1.23. The business has a 50 day moving average price of $177.23 and a 200 day moving average price of $142.31. The company has a current ratio of 3.06, a quick ratio of 1.75 and a debt-to-equity ratio of 0.53.

About Bel Fuse

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.