Bel Fuse (NASDAQ:BELFB) Shares Gap Up – Here’s Why

Shares of Bel Fuse Inc. (NASDAQ:BELFB) gapped up prior to trading on Wednesday . The stock had previously closed at $82.11, but opened at $86.19. Bel Fuse shares last traded at $87.55, with a volume of 18,008 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BELFB shares. Oppenheimer started coverage on shares of Bel Fuse in a report on Tuesday, December 17th. They issued an “outperform” rating and a $105.00 price target for the company. Needham & Company LLC boosted their price objective on shares of Bel Fuse from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday. Finally, StockNews.com cut shares of Bel Fuse from a “buy” rating to a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $100.00.

Bel Fuse Stock Up 1.8 %

The firm’s 50-day moving average is $81.81 and its 200 day moving average is $77.17. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.71 and a current ratio of 2.92. The firm has a market capitalization of $1.08 billion, a P/E ratio of 26.32, a PEG ratio of 0.96 and a beta of 1.28.

Bel Fuse (NASDAQ:BELFB) last issued its quarterly earnings results on Tuesday, February 18th. The electronics maker reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.96 by ($1.10). Bel Fuse had a return on equity of 12.37% and a net margin of 7.66%. The business had revenue of $149.86 million for the quarter, compared to the consensus estimate of $126.41 million. During the same period last year, the firm earned $1.29 earnings per share. As a group, equities research analysts predict that Bel Fuse Inc. will post 5.65 EPS for the current fiscal year.

Bel Fuse Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be issued a $0.07 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.33%. Bel Fuse’s payout ratio is 8.56%.

Insider Activity

In other news, VP Joseph Francis Berry sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $80.30, for a total value of $80,300.00. Following the sale, the vice president now directly owns 8,023 shares of the company’s stock, valued at approximately $644,246.90. This represents a 11.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Bel Fuse

Institutional investors and hedge funds have recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new position in Bel Fuse in the 4th quarter valued at about $148,000. BNP Paribas Financial Markets grew its stake in Bel Fuse by 10.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,197 shares of the electronics maker’s stock valued at $172,000 after buying an additional 200 shares during the last quarter. ProShare Advisors LLC acquired a new position in Bel Fuse in the 4th quarter valued at about $240,000. Integrated Quantitative Investments LLC acquired a new position in Bel Fuse in the 4th quarter valued at about $298,000. Finally, Kovitz Investment Group Partners LLC acquired a new position in shares of Bel Fuse during the 3rd quarter worth approximately $288,000. 58.39% of the stock is owned by institutional investors.

About Bel Fuse

Bel Fuse Inc designs, manufactures, markets, and sells products that power, protect, and connect electronic circuits. The company’s products are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries.