Bel Fuse Inc. (NASDAQ:BELFB) Sees Large Decline 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) saw a significant drop in short interest during the month of August. As of August 15th, there was short interest totaling 421,600 shares, a drop of 20.1% from the July 31st total of 527,600 shares. Based on an average daily trading volume, of 160,300 shares, the short-interest ratio is currently 2.6 days. Based on an average daily trading volume, of 160,300 shares, the short-interest ratio is currently 2.6 days.

Wall Street Analysts Forecast Growth

BELFB has been the subject of a number of recent analyst reports. Baird R W raised Bel Fuse to a "strong-buy" rating in a research report on Tuesday, June 10th. Oppenheimer set a $125.00 target price on Bel Fuse and gave the stock 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. Northland Securities increased their target price on Bel Fuse from $93.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, June 30th. Finally, Needham & Company LLC increased their target price on Bel Fuse from $116.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. Based on data from MarketBeat, Bel Fuse presently has a consensus rating of "Buy" and a consensus target price of $126.80.

Bel Fuse Price Performance

Bel Fuse stock traded down $6.59 during mid-day trading on Friday, reaching $141.73. 62,130 shares of the company were exchanged, compared to its average volume of 117,863. The company has a fifty day simple moving average of $125.22 and a 200-day simple moving average of $93.65. Bel Fuse has a 12 month low of $57.99 and a 12 month high of $150.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.05 and a quick ratio of 1.72. The firm has a market cap of $1.79 billion, a PE ratio of 34.74, a PEG ratio of 1.81 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. Shareholders of record on Wednesday, October 15th will be paid a dividend of $0.07 per share. This is a boost from Bel Fuse's previous quarterly dividend of $0.06. The ex-dividend date is Wednesday, October 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.2%. Bel Fuse's dividend payout ratio is 6.86%.

Insider Buying and Selling

In other news, VP Kenneth Koon Keung Lai sold 1,900 shares of the firm'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 completion of the sale, the vice president directly owned 10,255 shares of the company's stock, valued at $1,312,640. This trade represents a 15.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Stephen Dawson sold 1,200 shares of the firm'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 directly owned 14,265 shares of the company's stock, valued at approximately $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. Company insiders own 5.37% of the company's stock.

Hedge Funds Weigh In On Bel Fuse

A number of hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. increased its stake in Bel Fuse by 12.1% during the 2nd quarter. Osaic Holdings Inc. now owns 7,048 shares of the electronics maker's stock worth $688,000 after acquiring an additional 758 shares during the period. Hohimer Wealth Management LLC bought a new position in Bel Fuse during the 2nd quarter worth $250,000. Tower Research Capital LLC TRC increased its stake in 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 acquiring an additional 845 shares during the period. Wasatch Advisors LP increased its stake in Bel Fuse by 33.6% during the 2nd quarter. Wasatch Advisors LP now owns 284,014 shares of the electronics maker's stock worth $27,745,000 after acquiring an additional 71,390 shares during the period. Finally, Lazard Asset Management LLC increased its stake in Bel Fuse by 36.9% during the 2nd quarter. Lazard Asset Management LLC now owns 39,089 shares of the electronics maker's stock worth $3,818,000 after acquiring an additional 10,530 shares during the period. Institutional investors own 58.39% of the company's stock.

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.