Bel Fuse (NASDAQ:BELFA) Shares Gap Up - Here's What Happened

Bel Fuse Inc. (NASDAQ:BELFA - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $78.27, but opened at $79.99. Bel Fuse shares last traded at $81.81, with a volume of 8,476 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BELFA shares. Baird R W upgraded Bel Fuse to a "strong-buy" rating in a research note on Monday, June 9th. Craig Hallum set a $115.00 price objective on Bel Fuse and gave the company a "buy" rating in a report on Tuesday, March 25th.

Bel Fuse Price Performance

The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 26.35 and a beta of 1.05. The business has a 50-day moving average price of $66.97 and a two-hundred day moving average price of $78.13. The company has a current ratio of 2.92, a quick ratio of 1.66 and a debt-to-equity ratio of 0.80.

Bel Fuse (NASDAQ:BELFA - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The scientific and technical instruments company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.29. The company had revenue of $152.24 million during the quarter, compared to analyst estimates of $148.60 million. Bel Fuse had a net margin of 7.66% and a return on equity of 18.61%.

Bel Fuse Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 15th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.29%. The ex-dividend date is Tuesday, July 15th. Bel Fuse's payout ratio is 7.36%.

Institutional Trading of Bel Fuse

Institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN boosted its position in shares of Bel Fuse by 26.1% during 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 buying an additional 223 shares during the last quarter. Bank of America Corp DE boosted its holdings in Bel Fuse by 41.8% during the 4th quarter. Bank of America Corp DE now owns 1,648 shares of the scientific and technical instruments company's stock worth $148,000 after acquiring an additional 486 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of 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 purchasing an additional 767 shares during the last quarter. Barclays PLC raised its holdings in shares of 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 purchasing an additional 312 shares during the last quarter. Finally, Makaira Partners LLC bought a new position in shares of Bel Fuse during the first quarter valued at about $288,000. Institutional investors 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.

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