Bel Fuse (NASDAQ:BELFB) Sets New 52-Week High Following Analyst Upgrade

Bel Fuse Inc. (NASDAQ:BELFB) shares reached a new 52-week high during trading 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 trading hands. The stock had previously closed at $138.07.

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

Insider Buying and Selling at Bel Fuse

In other news, VP Kenneth Koon Keung Lai sold 1,900 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $128.00, for a total transaction of $243,200.00. Following the completion of the sale, the vice president owned 10,255 shares in the company, valued at approximately $1,312,640. This represents a 15.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 sale, the insider owned 14,265 shares of the company’s stock, valued at approximately $1,812,653.55. This represents a 7.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,100 shares of company stock worth $731,804 in the last ninety days. Insiders own 5.37% of the company’s stock.

Institutional Trading of Bel Fuse

Several hedge funds and other institutional investors have recently made changes to their positions in BELFB. CWM LLC lifted its holdings in shares of Bel Fuse by 147.1% during the 1st quarter. CWM LLC now owns 383 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 228 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Bel Fuse during the 2nd quarter valued at $50,000. BNP Paribas Financial Markets lifted its holdings in shares of Bel Fuse by 60.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,000 shares of the electronics maker’s stock valued at $98,000 after purchasing an additional 375 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Bel Fuse by 437.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,038 shares of the electronics maker’s stock valued at $101,000 after purchasing an additional 845 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Bel Fuse by 6.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the electronics maker’s stock valued at $156,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 58.39% of the company’s stock.

Bel Fuse Stock Performance

The firm has a fifty day moving average price of $120.66 and a 200 day moving average price of $91.50. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.72 and a current ratio of 3.05. The stock has a market cap of $1.82 billion, a PE ratio of 35.26, a price-to-earnings-growth ratio of 1.85 and a beta of 1.59.

Bel Fuse Increases Dividend

The company also recently announced 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. This is a positive change from Bel Fuse’s previous quarterly dividend of $0.06. The ex-dividend date is Wednesday, October 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.2%. Bel Fuse’s dividend payout ratio (DPR) is 6.86%.

About Bel Fuse

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.