Bel Fuse (NASDAQ:BELFA) Stock Price Up 6.7% - What's Next?

Key Points

• Bel Fuse shares rose 6.7% to $223.69 during Friday trading, reaching as high as $232.16, though volume was 84% below the average session level.
• The company exceeded quarterly expectations, reporting earnings of $2.76 per share versus the $2.34 consensus estimate and revenue of $210.69 million compared with expectations of $206.39 million.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus rating and a $250 average price target; institutional investors and hedge funds own 6.01% of the stock.

Shares of Bel Fuse Inc. (NASDAQ:BELFA - Get Free Report) shot up 6.7% during trading on Friday . The company traded as high as $232.16 and last traded at $223.69. Approximately 17,250 shares were traded during trading, a decline of 84% from the average session volume of 106,446 shares. The stock had previously closed at $209.72.

Analyst Upgrades and Downgrades

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

Bel Fuse Trading Up 7.4%

The company has a quick ratio of 1.73, a current ratio of 3.18 and a debt-to-equity ratio of 0.47. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 57.84 and a beta of 1.37. The company has a 50-day moving average price of $244.15 and a 200 day moving average price of $221.27.

Bel Fuse (NASDAQ:BELFA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.42. The firm had revenue of $210.69 million for the quarter, compared to analyst estimates of $206.39 million. Bel Fuse had a return on equity of 26.26% and a net margin of 7.21%.

Hedge Funds Weigh In On Bel Fuse

A number of large investors have recently made changes to their positions in BELFA. BNP Paribas Financial Markets lifted its position in shares of Bel Fuse by 92.2% in the third quarter. BNP Paribas Financial Markets now owns 319 shares of the scientific and technical instruments company's stock worth $37,000 after purchasing an additional 153 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Bel Fuse by 6,000.0% during the first quarter. PNC Financial Services Group Inc. now owns 305 shares of the scientific and technical instruments company's stock valued at $55,000 after purchasing an additional 300 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in Bel Fuse in the 4th quarter valued at approximately $61,000. Tower Research Capital LLC TRC increased its stake in Bel Fuse by 447.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 744 shares of the scientific and technical instruments company's stock valued at $67,000 after buying an additional 608 shares during the period. Finally, Deutsche Bank AG purchased a new stake in Bel Fuse in the 4th quarter worth approximately $111,000. Institutional investors and hedge funds own 6.01% of the company's stock.

About Bel Fuse

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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