Bel Fuse (NASDAQ:BELFA) Reaches New 12-Month High - Here's What Happened

Key Points

• Bel Fuse Inc.'s share price reached a new 52-week high of $119.00, indicating strong market performance and interest in the stock.
• Analysts have upgraded Bel Fuse to a "strong-buy" rating, suggesting positive outlook and potential for further growth.
• The company reported $1.58 earnings per share (EPS) for the last quarter, significantly surpassing estimates and demonstrating strong financial health.

Bel Fuse Inc. (NASDAQ:BELFA - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $119.00 and last traded at $118.24, with a volume of 11624 shares. The stock had previously closed at $116.06.

Wall Street Analyst Weigh In

Separately, Baird R W upgraded Bel Fuse to a "strong-buy" rating in a report on Monday, June 9th.

Bel Fuse Price Performance

The business has a fifty day simple moving average of $88.56 and a 200 day simple moving average of $78.86. The company has a current ratio of 3.05, a quick ratio of 1.72 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $1.50 billion, a P/E ratio of 30.60 and a beta of 1.12.

Bel Fuse (NASDAQ:BELFA - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.43. Bel Fuse had a net margin of 8.59% and a return on equity of 18.33%. The company had revenue of $168.30 million during the quarter, compared to the consensus estimate of $149.60 million.

Bel Fuse Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 15th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $0.24 dividend on an annualized basis and a yield of 0.2%. Bel Fuse's payout ratio is presently 6.22%.

Hedge Funds Weigh In On Bel Fuse

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BELFA. JPMorgan Chase & Co. raised its holdings in Bel Fuse by 67.6% during the fourth quarter. JPMorgan Chase & Co. now owns 113,291 shares of the scientific and technical instruments company's stock worth $10,205,000 after purchasing an additional 45,710 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Bel Fuse by 3.1% in the fourth quarter. Renaissance Technologies LLC now owns 43,253 shares of the scientific and technical instruments company's stock valued at $3,896,000 after acquiring an additional 1,300 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Bel Fuse by 9.4% during the fourth quarter. Geode Capital Management LLC now owns 36,861 shares of the scientific and technical instruments company's stock worth $3,321,000 after purchasing an additional 3,167 shares during the period. American Century Companies Inc. lifted its position in Bel Fuse by 19.6% in the 1st quarter. American Century Companies Inc. now owns 35,895 shares of the scientific and technical instruments company's stock valued at $2,587,000 after purchasing an additional 5,876 shares during the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV acquired a new position in shares of Bel Fuse during the 2nd quarter valued at $2,341,000. Institutional investors and hedge funds own 6.01% 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.