Bel Fuse (NASDAQ:BELFB) Sets New 1-Year High – Here’s Why

Shares of Bel Fuse Inc. (NASDAQ:BELFB) reached a new 52-week high on Thursday . The company traded as high as $307.00 and last traded at $286.89, with a volume of 293739 shares. The stock had previously closed at $297.17.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BELFB shares. Robert W. Baird set a $293.00 target price on Bel Fuse in a research report on Friday, May 1st. Northland Securities set a $321.00 target price on Bel Fuse in a research report on Monday. Wall Street Zen downgraded Bel Fuse from a “buy” rating to a “hold” rating in a research report on Monday, March 16th. Needham & Company LLC lifted their price objective on Bel Fuse from $250.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $315.00 price objective on shares of Bel Fuse in a report on Friday, May 1st. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $307.25.

Bel Fuse Stock Down 3.5%

The company has a quick ratio of 1.73, a current ratio of 3.18 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $226.67 and a two-hundred day simple moving average of $195.93. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 65.35, a P/E/G ratio of 2.96 and a beta of 1.75.

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 paid a $0.07 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.1%. Bel Fuse’s payout ratio is 6.38%.

Insider Buying and Selling

In other news, Director Peter E. Gilbert sold 4,500 shares of Bel Fuse stock in a transaction that occurred on 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 completion of the transaction, the director owned 15,047 shares in the company, valued at approximately $3,592,471.25. The trade was a 23.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of Bel Fuse stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $234.00, for a total transaction of $7,948,278.00. The SEC filing for this sale provides additional information. Insiders own 5.37% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new position in Bel Fuse in the 3rd quarter worth approximately $492,000. Oliver Luxxe Assets LLC bought a new position in Bel Fuse in the 4th quarter worth approximately $1,376,000. Tudor Investment Corp ET AL bought a new position in Bel Fuse in the 3rd quarter worth approximately $2,739,000. Tema Etfs LLC raised its position in Bel Fuse by 70.0% in the 4th quarter. Tema Etfs LLC now owns 89,918 shares of the electronics maker’s stock worth $15,253,000 after purchasing an additional 37,022 shares during the last quarter. Finally, Phocas Financial Corp. bought a new position in Bel Fuse in the 4th quarter worth approximately $3,917,000. Institutional investors own 58.39% of the company’s stock.

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.