Bel Fuse (NASDAQ:BELFA) Sets New 1-Year High Following Strong Earnings

Shares of Bel Fuse Inc. (NASDAQ:BELFA) hit a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $227.42 and last traded at $222.2690, with a volume of 5134 shares trading hands. The stock had previously closed at $216.04.

The scientific and technical instruments company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.78. The firm had revenue of $175.94 million during the quarter, compared to the consensus estimate of $172.01 million. Bel Fuse had a net margin of 10.04% and a return on equity of 21.18%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Bel Fuse from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $115.00.

Institutional Investors Weigh In On Bel Fuse

A number of large investors have recently modified their holdings of BELFA. BNP Paribas Financial Markets lifted its position in shares of Bel Fuse by 92.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 319 shares of the scientific and technical instruments company’s stock worth $37,000 after purchasing an additional 153 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in Bel Fuse in the second quarter valued at $51,000. Tower Research Capital LLC TRC lifted its holdings in 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 buying an additional 608 shares during the last quarter. Deutsche Bank AG purchased a new position in shares of Bel Fuse in the 4th quarter valued at about $111,000. Finally, Rhumbline Advisers raised its position in shares of Bel Fuse by 41.5% during the 1st quarter. Rhumbline Advisers now owns 2,613 shares of the scientific and technical instruments company’s stock worth $188,000 after acquiring an additional 767 shares in the last quarter. 6.01% of the stock is owned by hedge funds and other institutional investors.

Bel Fuse Stock Performance

The firm has a 50 day moving average of $176.13 and a two-hundred day moving average of $141.86. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.06 and a quick ratio of 1.75. The stock has a market cap of $2.83 billion, a PE ratio of 45.28 and a beta of 1.23.

About Bel Fuse

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.