Bel Fuse (NASDAQ:BELFA) Stock Price Up 11.3% After Strong Earnings

Key Points

• Bel Fuse Inc. shares surged 11.3% following an earnings report that exceeded analysts' expectations, with an EPS of $1.58 compared to a forecast of $1.15.
• The company's revenue for the quarter reached $168.30 million, significantly above the projected $149.60 million.
• Bel Fuse received a "strong-buy" rating upgrade from Baird R W, indicating positive investor sentiment and growth forecasts.
• Institutional investors have notably increased their holdings, with Wells Fargo raising its stake by 26.1% during the fourth quarter.

Shares of Bel Fuse Inc. (NASDAQ:BELFA - Get Free Report) traded up 11.3% during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $99.49 and last traded at $101.74. 788 shares changed hands during mid-day trading, a decline of 89% from the average session 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 for the quarter, topping analysts' consensus estimates of $1.15 by $0.43. Bel Fuse had a return on equity of 18.33% and a net margin of 8.59%. The company had revenue of $168.30 million for the quarter, compared to analyst estimates 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.

Institutional Investors Weigh In On Bel Fuse

A number of large investors have recently bought and sold shares of BELFA. Citadel Advisors LLC grew its holdings in Bel Fuse by 199.9% in the 4th quarter. Citadel Advisors LLC now owns 16,419 shares of the scientific and technical instruments company's stock valued at $1,479,000 after buying an additional 10,945 shares during the period. JPMorgan Chase & Co. increased its position in Bel Fuse by 67.6% during the fourth quarter. JPMorgan Chase & Co. now owns 113,291 shares of the scientific and technical instruments company's stock worth $10,205,000 after purchasing an additional 45,710 shares during the last quarter. American Century Companies Inc. raised its stake in Bel Fuse by 58.1% during the fourth quarter. American Century Companies Inc. now owns 30,019 shares of the scientific and technical instruments company's stock worth $2,704,000 after purchasing an additional 11,031 shares during the period. Herald Investment Management Ltd purchased a new position in Bel Fuse during the fourth quarter worth approximately $360,000. Finally, Rhumbline Advisers boosted its holdings in shares of Bel Fuse by 41.5% in the 1st 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. Institutional investors and hedge funds own 6.01% of the company's stock.

Bel Fuse Price Performance

The company has a market capitalization of $1.47 billion, a PE ratio of 30.00 and a beta of 1.15. The company has a current ratio of 3.05, a quick ratio of 1.72 and a debt-to-equity ratio of 0.62. The company's 50 day moving average price is $81.65 and its 200-day moving average price is $77.35.

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.