Renaissance Technologies LLC Acquires 26,200 Shares of Bel Fuse Inc. $BELFA

Renaissance Technologies LLC raised its stake in Bel Fuse Inc. (NASDAQ:BELFA) by 62.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 68,253 shares of the scientific and technical instruments company’s stock after buying an additional 26,200 shares during the period. Renaissance Technologies LLC owned about 0.54% of Bel Fuse worth $12,299,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its stake in Bel Fuse by 92.2% during the third quarter. BNP Paribas Financial Markets now owns 319 shares of the scientific and technical instruments company’s stock worth $37,000 after buying an additional 153 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Bel Fuse by 6,000.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 305 shares of the scientific and technical instruments company’s stock valued at $55,000 after acquiring an additional 300 shares during the period. Sunbelt Securities Inc. bought a new position in Bel Fuse during the fourth quarter worth $61,000. Tower Research Capital LLC TRC boosted its position in shares of Bel Fuse by 447.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 744 shares of the scientific and technical instruments company’s stock worth $67,000 after purchasing an additional 608 shares in the last quarter. Finally, Deutsche Bank AG bought a new position in Bel Fuse in the fourth quarter worth approximately $111,000. 6.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BELFA has been the subject of a number of analyst reports. Citigroup began coverage on shares of Bel Fuse in a report on Monday, July 13th. They set a “buy” rating for the company. Weiss Ratings lowered shares of Bel Fuse from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $250.00.

Bel Fuse Stock Up 6.4%

Shares of NASDAQ:BELFA opened at $223.13 on Friday. Bel Fuse Inc. has a one year low of $107.51 and a one year high of $293.51. The firm has a fifty day moving average price of $243.57 and a two-hundred day moving average price of $221.29. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.48 and a quick ratio of 1.73. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 57.07 and a beta of 1.37.

Bel Fuse (NASDAQ:BELFA) last announced its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.42. The business had revenue of $210.69 million for the quarter, compared to analyst estimates of $206.39 million. Bel Fuse had a return on equity of 20.55% and a net margin of 7.21%.

Bel Fuse Profile

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.