Bel Fuse (NASDAQ:BELFA) Hits New 1-Year High - Here's What Happened

Key Points

• Bel Fuse Inc. (NASDAQ:BELFA) shares reached a new 52-week high of $111.56 during trading, closing at $109.87, up from a previous close of $91.40.
• Analysts at Baird R W upgraded Bel Fuse to a "strong-buy" rating, indicating positive forecasts for growth in the company's performance.
• In its latest earnings report, Bel Fuse reported $1.58 earnings per share, exceeding estimates, and generating revenues of $168.30 million against expectations of $149.60 million.

Shares of Bel Fuse Inc. (NASDAQ:BELFA - Get Free Report) reached a new 52-week high during trading on Saturday . The stock traded as high as $111.56 and last traded at $109.87, with a volume of 15162 shares changing hands. The stock had previously closed at $91.40.

Wall Street Analysts Forecast Growth

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

Bel Fuse Trading Up 20.2%

The company has a market cap of $1.39 billion, a PE ratio of 28.46 and a beta of 1.15. The company has a quick ratio of 1.83, a current ratio of 3.31 and a debt-to-equity ratio of 0.76. The business has a 50-day simple moving average of $80.73 and a 200-day simple moving average of $77.26.

Bel Fuse (NASDAQ:BELFA - Get Free Report) last announced its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.43. The company had revenue of $168.30 million for the quarter, compared to analyst estimates of $149.60 million. Bel Fuse had a return on equity of 18.78% and a net margin of 8.59%.

Hedge Funds Weigh In On Bel Fuse

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in Bel Fuse by 26.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,079 shares of the scientific and technical instruments company's stock valued at $97,000 after acquiring an additional 223 shares in the last quarter. Bank of America Corp DE boosted its stake in Bel Fuse by 41.8% in the fourth quarter. Bank of America Corp DE now owns 1,648 shares of the scientific and technical instruments company's stock valued at $148,000 after acquiring an additional 486 shares in the last quarter. Rhumbline Advisers boosted its stake in Bel Fuse by 41.5% in the first quarter. Rhumbline Advisers now owns 2,613 shares of the scientific and technical instruments company's stock valued at $188,000 after acquiring an additional 767 shares in the last quarter. Barclays PLC boosted its stake in Bel Fuse by 13.5% in the fourth quarter. Barclays PLC now owns 2,623 shares of the scientific and technical instruments company's stock valued at $237,000 after acquiring an additional 312 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Bel Fuse in the fourth quarter valued at $337,000. Institutional investors and hedge funds own 6.01% of the company's stock.

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.