Bel Fuse Inc. (NASDAQ:BELFB) Receives $126.80 Consensus PT from 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%.

Bel Fuse Inc. (NASDAQ:BELFB - Get Free Report) has been given a consensus rating of "Buy" by the six ratings firms that are currently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $136.80.

Several brokerages have issued reports on BELFB. Oppenheimer increased their price target on Bel Fuse from $140.00 to $175.00 and gave the stock an "outperform" rating in a report on Tuesday. Needham & Company LLC upped their price objective on shares of Bel Fuse from $116.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Baird R W raised shares of Bel Fuse to a "strong-buy" rating in a research note on Tuesday, June 10th. Northland Securities raised their target price on Bel Fuse from $93.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, June 30th. Finally, Wall Street Zen raised Bel Fuse from a "buy" rating to a "strong-buy" rating in a report on Saturday.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Bel Fuse

Several institutional investors and hedge funds have recently bought and sold shares of BELFB. CWM LLC lifted its holdings in Bel Fuse by 147.1% during the 1st quarter. CWM LLC now owns 383 shares of the electronics maker's stock worth $29,000 after buying an additional 228 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Bel Fuse during the 2nd quarter worth $50,000. BNP Paribas Financial Markets grew its stake in Bel Fuse by 60.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,000 shares of the electronics maker's stock valued at $98,000 after acquiring an additional 375 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Bel Fuse by 437.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,038 shares of the electronics maker's stock worth $101,000 after purchasing an additional 845 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Bel Fuse by 6.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the electronics maker's stock worth $156,000 after buying an additional 100 shares during the last quarter. 58.39% of the stock is currently owned by institutional investors and hedge funds.

Bel Fuse Price Performance

BELFB stock traded down $8.89 during trading on Tuesday, hitting $142.08. 242,584 shares of the stock traded hands, compared to its average volume of 114,363. The company has a 50 day simple moving average of $129.74 and a 200 day simple moving average of $95.78. 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 has a one year low of $57.99 and a one year high of $152.45. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 34.82, a P/E/G ratio of 1.84 and a beta of 1.59.

Bel Fuse Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.2%. This is an increase from Bel Fuse's previous quarterly dividend of $0.06. Bel Fuse's payout ratio is presently 6.86%.

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.