Bel Fuse (NASDAQ:BELFA) Shares Gap Up – What’s Next?

Bel Fuse Inc. (NASDAQ:BELFA) shares gapped up prior to trading on Tuesday. The stock had previously closed at $166.51, but opened at $176.88. Bel Fuse shares last traded at $171.5740, with a volume of 8,773 shares.

Analysts Set New Price Targets

Several equities analysts have recently commented on BELFA shares. Citigroup started coverage on shares of Bel Fuse in a research report on Monday, July 13th. They set a “buy” rating on the stock. Weiss Ratings downgraded Bel Fuse from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 26th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $250.00.

Bel Fuse Trading Up 2.3%

The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 46.07 and a beta of 1.37. The company has a 50-day moving average of $195.92 and a 200-day moving average of $215.47.

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

Insiders Place Their Bets

In other Bel Fuse news, Director Vincent Vellucci sold 393 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $243.61, for a total transaction of $95,738.73. Following the sale, the director directly owned 8,434 shares of the company’s stock, valued at approximately $2,054,606.74. This represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter E. Gilbert sold 500 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $292.12, for a total transaction of $146,060.00. Following the completion of the transaction, the director owned 750 shares in the company, valued at approximately $219,090. The trade was a 40.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bel Fuse

A number of institutional investors have recently modified their holdings of BELFA. PNC Financial Services Group Inc. boosted its stake in Bel Fuse by 6,000.0% in the first 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. Nisa Investment Advisors LLC acquired a new stake in shares of Bel Fuse during the 3rd quarter worth approximately $100,000. Abel Hall LLC acquired a new stake in shares of Bel Fuse during the 1st quarter worth approximately $205,000. FNY Investment Advisers LLC raised its position in shares of Bel Fuse by 16.9% during the 2nd quarter. FNY Investment Advisers LLC now owns 1,239 shares of the scientific and technical instruments company’s stock worth $360,000 after purchasing an additional 179 shares during the period. Finally, Strs Ohio acquired a new stake in shares of Bel Fuse during the 1st quarter worth approximately $396,000. Institutional investors own 6.01% of the company’s stock.

Bel Fuse Company Profile

Bel Fuse Inc designs, manufactures and markets products that support power management, circuit protection, connectivity and signal transmission. Its portfolio includes fuses and other circuit-protection devices, power supplies, DC-DC converters, magnetics, connectors, cable assemblies and discrete components used in electronic systems.

The company serves a range of markets, including networking and telecommunications, data centers, consumer electronics, automotive, medical, industrial, aerospace and defense applications.