Bel Fuse Inc. (NASDAQ:BELFB) Given Average Rating of "Buy" by Brokerages

Key Points

• Bel Fuse Inc. has received an average recommendation of "Buy" from six analysts, with a 12-month price target of $126.80.
• The company has announced an increase in its quarterly dividend to $0.07, scheduled to be paid on October 31st, 2023.
• Recent insider trading activity has seen VP Kenneth Koon Keung Lai sell 1,900 shares at an average price of $128.00, reducing his ownership by 15.63%.

Shares of Bel Fuse Inc. (NASDAQ:BELFB - Get Free Report) have received an average recommendation of "Buy" from the six analysts that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $126.80.

Several research firms have recently weighed in on BELFB. Baird R W upgraded Bel Fuse to a "strong-buy" rating in a research report on Tuesday, June 10th. Oppenheimer set a $125.00 price target on Bel Fuse and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Wall Street Zen lowered Bel Fuse from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 23rd. Needham & Company LLC lifted their target price on Bel Fuse from $116.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Northland Securities boosted their price target on Bel Fuse from $93.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, June 30th.

Bel Fuse Stock Up 2.9%

NASDAQ:BELFB opened at $145.86 on Tuesday. Bel Fuse has a twelve month low of $57.99 and a twelve month high of $150.67. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 35.75, a price-to-earnings-growth ratio of 1.73 and a beta of 1.59. The stock has a fifty day simple moving average of $126.15 and a 200-day simple moving average of $94.16. The company has a current ratio of 3.05, a quick ratio of 1.72 and a debt-to-equity ratio of 0.63.

Bel Fuse Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 15th will be given a $0.07 dividend. This is an increase from Bel Fuse's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Wednesday, October 15th. Bel Fuse's payout ratio is currently 6.86%.

Insider Buying and Selling

In related news, VP Kenneth Koon Keung Lai sold 1,900 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $128.00, for a total value of $243,200.00. Following the sale, the vice president owned 10,255 shares in the company, valued at $1,312,640. This represents a 15.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen Dawson sold 1,200 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $127.07, for a total value of $152,484.00. Following the completion of the sale, the insider owned 14,265 shares in the company, valued at approximately $1,812,653.55. This represents a 7.76% decrease in their position. The disclosure for this sale can be found here. 5.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Osaic Holdings Inc. lifted its holdings in Bel Fuse by 12.1% in the second quarter. Osaic Holdings Inc. now owns 7,048 shares of the electronics maker's stock valued at $688,000 after acquiring an additional 758 shares during the period. Hohimer Wealth Management LLC acquired a new position in Bel Fuse in the second quarter valued at approximately $250,000. Tower Research Capital LLC TRC lifted its holdings in Bel Fuse by 437.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,038 shares of the electronics maker's stock valued at $101,000 after acquiring an additional 845 shares during the period. Wasatch Advisors LP lifted its holdings in Bel Fuse by 33.6% in the second quarter. Wasatch Advisors LP now owns 284,014 shares of the electronics maker's stock valued at $27,745,000 after acquiring an additional 71,390 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in Bel Fuse by 36.9% in the second quarter. Lazard Asset Management LLC now owns 39,089 shares of the electronics maker's stock valued at $3,818,000 after acquiring an additional 10,530 shares during the period. 58.39% of the stock is owned by institutional investors and hedge funds.

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.

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