Bel Fuse (NASDAQ:BELFA) Shares Up 6.8% - What's Next?

Bel Fuse Inc. (NASDAQ:BELFA - Get Free Report) shares rose 6.8% during trading on Wednesday . The stock traded as high as $72.33 and last traded at $74.27. Approximately 26,210 shares were traded during mid-day trading, an increase of 129% from the average daily volume of 11,462 shares. The stock had previously closed at $69.56.

Analyst Ratings Changes

Several research firms have issued reports on BELFA. Craig Hallum set a $115.00 price target on Bel Fuse and gave the company a "buy" rating in a report on Tuesday, March 25th. Baird R W raised Bel Fuse to a "strong-buy" rating in a report on Monday.

Bel Fuse Stock Up 9.3%

The company has a fifty day simple moving average of $65.81 and a 200-day simple moving average of $78.71. The company has a quick ratio of 1.66, a current ratio of 2.92 and a debt-to-equity ratio of 0.80. The firm has a market cap of $962.69 million, a P/E ratio of 24.60 and a beta of 1.05.

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

Bel Fuse Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th will be given a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $0.24 annualized dividend and a dividend yield of 0.32%. Bel Fuse's payout ratio is 7.36%.

Hedge Funds Weigh In On Bel Fuse

Several large investors have recently made changes to their positions in the business. Rhumbline Advisers lifted its position 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 acquiring an additional 767 shares in the last quarter. Makaira Partners LLC purchased a new position in shares of Bel Fuse in the first quarter valued at about $288,000. American Century Companies Inc. lifted its position in shares of Bel Fuse by 19.6% in the first quarter. American Century Companies Inc. now owns 35,895 shares of the scientific and technical instruments company's stock worth $2,587,000 after buying an additional 5,876 shares in the last quarter. Cynosure Group LLC purchased a new stake in shares of Bel Fuse in the first quarter worth about $310,000. Finally, Herald Investment Management Ltd lifted its position in shares of Bel Fuse by 87.5% in the first quarter. Herald Investment Management Ltd now owns 7,500 shares of the scientific and technical instruments company's stock worth $540,000 after buying an additional 3,500 shares in the last quarter. 6.01% of the stock is currently owned by hedge funds and other institutional investors.

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.