Bel Fuse Inc. (NASDAQ:BELFB) Sees Large Decrease in Short Interest

Key Points

• Bel Fuse Inc. experienced a significant 20.1% decrease in short interest for August, totaling 421,600 shares compared to July's 527,600 shares.
• Wall Street analysts are generally optimistic about Bel Fuse, with a consensus rating of "Buy" and a price target set at $126.80.
• The company announced an increase in its quarterly dividend from $0.06 to $0.07 per share, with payments scheduled for October 31st.

Bel Fuse Inc. (NASDAQ:BELFB - Get Free Report) was the target of a significant decline in short interest in the month of August. As of August 15th, there was short interest totaling 421,600 shares, adeclineof20.1% from the July 31st total of 527,600 shares. Based on an average daily volume of 160,300 shares, the short-interest ratio is presently 2.6 days. Based on an average daily volume of 160,300 shares, the short-interest ratio is presently 2.6 days.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Oppenheimer set a $125.00 price target on Bel Fuse and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Wall Street Zen lowered Bel Fuse from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 23rd. Needham & Company LLC upped their target price on Bel Fuse from $116.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Baird R W upgraded Bel Fuse to a "strong-buy" rating in a report on Tuesday, June 10th. Finally, Robert W. Baird upped their target price on Bel Fuse from $130.00 to $154.00 and gave the stock an "outperform" rating in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $126.80.

Insiders Place Their Bets

In related news, VP Kenneth Koon Keung Lai sold 1,900 shares of Bel Fuse stock in a transaction on Friday, August 1st. The stock was sold at an average price of $128.00, for a total transaction of $243,200.00. Following the completion of the sale, the vice president directly owned 10,255 shares of the company's stock, valued at $1,312,640. The trade was a 15.63% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 transaction, the insider owned 14,265 shares in the company, valued at approximately $1,812,653.55. This represents a 7.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,100 shares of company stock valued at $731,804. 5.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Bel Fuse

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC lifted its stake in shares of Bel Fuse by 147.1% in the 1st quarter. CWM LLC now owns 383 shares of the electronics maker's stock valued at $29,000 after acquiring an additional 228 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Bel Fuse in the 2nd quarter valued at $50,000. BNP Paribas Financial Markets lifted its stake in shares of 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 lifted its stake in shares of Bel Fuse by 437.8% in the 2nd 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 last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of 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 valued at $156,000 after acquiring an additional 100 shares during the last quarter. 58.39% of the stock is currently owned by institutional investors.

Bel Fuse Stock Performance

Shares of Bel Fuse stock traded down $0.91 on Tuesday, hitting $140.60. The stock had a trading volume of 3,430 shares, compared to its average volume of 117,884. The company has a quick ratio of 1.72, a current ratio of 3.05 and a debt-to-equity ratio of 0.63. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 34.47, a price-to-earnings-growth ratio of 1.86 and a beta of 1.59. The business's 50 day moving average is $121.54 and its two-hundred day moving average is $92.01. Bel Fuse has a twelve month low of $57.99 and a twelve month high of $145.79.

Bel Fuse Increases Dividend

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

Bel Fuse Company Profile

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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