Bel Fuse (NASDAQ:BELFB) Posts Quarterly Earnings Results, Misses Expectations By $0.89 EPS

Bel Fuse (NASDAQ:BELFB) announced its earnings results on Wednesday. The electronics maker reported $1.83 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.89), Zacks reports. Bel Fuse had a return on equity of 9.75% and a net margin of 7.21%. The business had revenue of $220.51 million for the quarter, compared to the consensus estimate of $215.74 million.

Bel Fuse Stock Up 1.8%

Bel Fuse stock opened at $227.77 on Thursday. The business’s 50-day simple moving average is $240.10 and its 200 day simple moving average is $247.25. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 55.02, a P/E/G ratio of 2.15 and a beta of 1.67. Bel Fuse has a 12-month low of $129.94 and a 12-month high of $335.29.

Insider Transactions at Bel Fuse

In other Bel Fuse news, Director Vincent Vellucci sold 1,000 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $235.15, for a total transaction of $235,150.00. Following the transaction, the director directly owned 7,434 shares in the company, valued at approximately $1,748,105.10. This represents a 11.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter E. Gilbert sold 500 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $292.12, for a total transaction of $146,060.00. Following the completion of the transaction, the director directly owned 750 shares in the company, valued at $219,090. This trade represents a 40.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,893 shares of company stock valued at $476,949. Corporate insiders own 5.37% of the company’s stock.

Analyst Upgrades and Downgrades

BELFB has been the topic of a number of research analyst reports. Northland Securities set a $326.00 price objective on shares of Bel Fuse in a report on Friday, July 31st. B. Riley Financial began coverage on shares of Bel Fuse in a research note on Tuesday, July 14th. They issued a “buy” rating for the company. Wall Street Zen upgraded shares of Bel Fuse from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings raised shares of Bel Fuse from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, October 13th. Finally, Bank of America assumed coverage on shares of Bel Fuse in a research note on Tuesday, July 14th. They set a “buy” rating and a $330.00 price target on the stock. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.67.

Bel Fuse Company Profile

Bel Fuse Inc is a designer, manufacturer and supplier of products that power, protect and connect electronic circuits. The company’s portfolio includes circuit protection devices, magnetic components, interconnect products, power supplies, power conversion solutions and discrete components used in electronic equipment and systems.

Bel Fuse serves customers in industries including telecommunications, networking, computing, industrial equipment, consumer electronics, automotive, medical technology, aerospace and defense.