Bel Fuse (NASDAQ:BELFA) Shares Down 4.3% - Here's Why

Key Points

• Bel Fuse shares fell 4.3% to about $213.60 in Monday trading, with volume down 44% from the average session.
• Analyst sentiment remains generally positive: Citigroup initiated coverage with a Buy rating, while Weiss Ratings downgraded its view to Hold. The consensus rating is “Moderate Buy,” with a $250 price target.
• Bel Fuse exceeded quarterly expectations, reporting EPS of $2.76 versus $2.34 expected and revenue of $210.69 million versus $206.39 million estimated; institutional investors own 6.01% of the stock.

Shares of Bel Fuse Inc. (NASDAQ:BELFA - Get Free Report) dropped 4.3% during mid-day trading on Monday . The company traded as low as $211.33 and last traded at $213.5990. Approximately 60,211 shares traded hands during trading, a decline of 44% from the average session volume of 107,190 shares. The stock had previously closed at $223.13.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BELFA. Citigroup initiated coverage on Bel Fuse in a report on Monday, July 13th. They set a "buy" rating for the company. Weiss Ratings lowered shares of Bel Fuse from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $250.00.

Bel Fuse Stock Performance

The company has a 50 day moving average of $243.57 and a 200 day moving average of $221.65. The company has a quick ratio of 3.20, a current ratio of 4.48 and a debt-to-equity ratio of 0.47. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 55.04 and a beta of 1.40.

Bel Fuse (NASDAQ:BELFA - Get Free Report) last announced its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.34 by $0.42. Bel Fuse had a return on equity of 20.55% and a net margin of 7.21%.The company had revenue of $210.69 million for the quarter, compared to analyst estimates of $206.39 million.

Institutional Investors Weigh In On Bel Fuse

A number of institutional investors have recently made changes to their positions in BELFA. Renaissance Technologies LLC boosted its holdings in Bel Fuse by 62.3% in the first quarter. Renaissance Technologies LLC now owns 68,253 shares of the scientific and technical instruments company's stock worth $12,299,000 after purchasing an additional 26,200 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Bel Fuse by 13.9% in the 3rd quarter. Vanguard Group Inc. now owns 52,614 shares of the scientific and technical instruments company's stock valued at $6,122,000 after buying an additional 6,408 shares during the period. Hound Partners LLC bought a new stake in shares of Bel Fuse during the 4th quarter valued at about $5,714,000. Geode Capital Management LLC lifted its holdings in Bel Fuse by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 37,606 shares of the scientific and technical instruments company's stock worth $5,709,000 after acquiring an additional 2,674 shares during the last quarter. Finally, State Street Corp boosted its stake in Bel Fuse by 1.8% in the fourth quarter. State Street Corp now owns 21,706 shares of the scientific and technical instruments company's stock valued at $3,295,000 after acquiring an additional 378 shares during the period. 6.01% of the stock is currently owned by institutional investors.

Bel Fuse Company Profile

Bel Fuse Inc, incorporated in 1949 and headquartered in Jersey City, New Jersey, designs and manufactures a broad range of electronic components aimed at ensuring reliable power delivery, circuit protection and signal connectivity. The company operates through two primary segments—Power Solutions Group and Telecom Products Group—serving original equipment manufacturers in multiple end markets, including telecommunications, data communications, consumer electronics, industrial and transportation.

Within its Power Solutions Group, Bel Fuse offers magnetic components such as power and signal transformers, inductors and coils, as well as circuit protection devices including fuses and resettable polyfuses.

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