Bel Fuse Inc. (NASDAQ:BELFB) Sees Significant Decrease in Short Interest

Bel Fuse Inc. (NASDAQ:BELFB) was the target of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 295,400 shares, a drop of 6.3% from the March 31st total of 315,100 shares. Based on an average daily volume of 128,500 shares, the short-interest ratio is presently 2.3 days.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. StockNews.com upgraded Bel Fuse from a “hold” rating to a “buy” rating in a report on Friday. Northland Securities assumed coverage on Bel Fuse in a report on Thursday, January 11th. They set an “outperform” rating and a $83.00 price target for the company. Finally, Needham & Company LLC reduced their target price on Bel Fuse from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Monday.

Insider Buying and Selling

In related news, Director Vincent Vellucci sold 1,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $56.70, for a total transaction of $56,700.00. Following the completion of the transaction, the director now directly owns 7,392 shares of the company’s stock, valued at approximately $419,126.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bel Fuse

A number of hedge funds have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC boosted its stake in Bel Fuse by 4.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,700 shares of the electronics maker’s stock valued at $314,000 after purchasing an additional 200 shares during the last quarter. Covestor Ltd boosted its stake in Bel Fuse by 26.5% during the 3rd quarter. Covestor Ltd now owns 1,012 shares of the electronics maker’s stock valued at $48,000 after purchasing an additional 212 shares during the last quarter. Pinnacle Associates Ltd. boosted its stake in Bel Fuse by 0.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 37,035 shares of the electronics maker’s stock valued at $1,767,000 after purchasing an additional 250 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its stake in shares of Bel Fuse by 1.1% in the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 55,464 shares of the electronics maker’s stock worth $3,693,000 after buying an additional 619 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its stake in shares of Bel Fuse by 373.5% in the 1st quarter. New York State Teachers Retirement System now owns 947 shares of the electronics maker’s stock worth $57,000 after buying an additional 747 shares during the last quarter. Institutional investors and hedge funds own 58.39% of the company’s stock.

Bel Fuse Stock Performance

Shares of BELFB opened at $59.26 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.21 and a quick ratio of 2.70. The stock has a 50-day moving average of $57.81 and a 200-day moving average of $58.82. The company has a market cap of $756.16 million, a PE ratio of 9.98 and a beta of 1.44. Bel Fuse has a one year low of $39.13 and a one year high of $74.75.

Bel Fuse (NASDAQ:BELFB) last issued its earnings results on Wednesday, February 21st. The electronics maker reported $1.37 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.07). The firm had revenue of $140.01 million during the quarter, compared to analyst estimates of $152.86 million. Bel Fuse had a net margin of 12.62% and a return on equity of 23.58%. On average, equities research analysts predict that Bel Fuse will post 4.7 EPS for the current fiscal year.

Bel Fuse Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.28 annualized dividend and a yield of 0.47%. Bel Fuse’s payout ratio is 4.71%.

Bel Fuse Company Profile

Bel Fuse Inc designs, manufactures, markets, and sells products that are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries in the United States, the People's Republic of China, Macao, the United Kingdom, Slovakia, Germany, India, Switzerland, and internationally.