Shares of Bel Fuse Inc. (NASDAQ:BELFA - Get Free Report) were up 11.3% during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $99.49 and last traded at $101.74. Approximately 788 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 7,468 shares. The stock had previously closed at $91.40.
The scientific and technical instruments company reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.43. Bel Fuse had a net margin of 7.69% and a return on equity of 18.47%. The company had revenue of $168.30 million during the quarter, compared to analysts' expectations of $149.60 million.
Wall Street Analysts Forecast Growth
Separately, Baird R W upgraded shares of Bel Fuse to a "strong-buy" rating in a research report on Monday, June 9th.
Get Our Latest Report on Bel Fuse
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its holdings in 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 worth $97,000 after buying an additional 223 shares during the last quarter. Barclays PLC lifted its position in shares of Bel Fuse by 13.5% during 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 in the last quarter. Northern Trust Corp lifted its position in shares of Bel Fuse by 1.9% during the fourth quarter. Northern Trust Corp now owns 17,610 shares of the scientific and technical instruments company's stock valued at $1,586,000 after purchasing an additional 323 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Bel Fuse by 41.8% during 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 purchasing an additional 486 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Bel Fuse by 41.5% during 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 in the last quarter. 6.01% of the stock is owned by institutional investors.
Bel Fuse Price Performance
The business's 50-day moving average is $79.92 and its two-hundred day moving average is $77.10. 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 company has a market capitalization of $1.29 billion, a P/E ratio of 31.21 and a beta of 1.15.
Bel Fuse Company Profile
(
Get Free Report)
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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