Bel Fuse (NASDAQ:BELFB) Announces Earnings Results, Misses Estimates By $0.45 EPS

Key Points

• Bel Fuse reported quarterly EPS of $1.89, missing the $2.34 consensus estimate by $0.45. The company posted a 12.97% return on equity and a 7.84% net margin.
• Shares fell 3.4% to $242.43 following the earnings report, giving the company a market capitalization of about $3.08 billion.
• Institutional investors own 58.39% of Bel Fuse, while analysts maintain a “Moderate Buy” consensus with an average price target of $321.50.

Bel Fuse (NASDAQ:BELFB - Get Free Report) posted its quarterly earnings data on Wednesday. The electronics maker reported $1.89 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.45), Zacks reports. Bel Fuse had a return on equity of 12.97% and a net margin of 7.84%.

Bel Fuse Stock Down 3.4%

BELFB traded down $8.54 during trading on Wednesday, hitting $242.43. 417,687 shares of the company's stock traded hands, compared to its average volume of 238,396. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 55.22, a PEG ratio of 2.80 and a beta of 1.68. The company's 50 day simple moving average is $280.66 and its two-hundred day simple moving average is $245.49. Bel Fuse has a 12-month low of $123.14 and a 12-month high of $335.29. The company has a current ratio of 3.18, a quick ratio of 1.73 and a debt-to-equity ratio of 0.47.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BELFB. Price T Rowe Associates Inc. MD boosted its position in shares of Bel Fuse by 74.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 834,261 shares of the electronics maker's stock valued at $141,517,000 after buying an additional 355,563 shares during the last quarter. Janus Henderson Group PLC raised its position in Bel Fuse by 19.2% in the 4th quarter. Janus Henderson Group PLC now owns 619,337 shares of the electronics maker's stock worth $105,016,000 after buying an additional 99,834 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Bel Fuse by 45.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 519,005 shares of the electronics maker's stock valued at $88,039,000 after acquiring an additional 161,736 shares during the period. Wasatch Advisors LP lifted its stake in Bel Fuse by 74.3% during the 4th quarter. Wasatch Advisors LP now owns 410,487 shares of the electronics maker's stock valued at $69,631,000 after acquiring an additional 174,969 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Bel Fuse by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 267,950 shares of the electronics maker's stock valued at $45,460,000 after acquiring an additional 2,803 shares during the last quarter. 58.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on BELFB. Weiss Ratings upgraded shares of Bel Fuse from a "hold (c)" rating to a "buy (b-)" rating in a report on Wednesday, May 6th. Robert W. Baird set a $293.00 price target on Bel Fuse in a research note on Friday, May 1st. Zacks Research lowered Bel Fuse from a "hold" rating to a "strong sell" rating in a research report on Monday, July 6th. B. Riley Financial began coverage on Bel Fuse in a research note on Tuesday, July 14th. They set a "buy" rating for the company. Finally, Citigroup assumed coverage on Bel Fuse in a report on Monday, July 13th. They issued a "buy" rating on the stock. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Bel Fuse has a consensus rating of "Moderate Buy" and an average target price of $321.50.

Bel Fuse Company Profile

Bel Fuse Inc is a global manufacturer of electronic components that bridge power, data and video applications. The company offers a comprehensive portfolio of products, including board-level circuit protection devices such as fuses, positive temperature coefficient (PTC) resistors and inductors; power transformers, modules and supplies; as well as connectivity solutions encompassing USB, HDMI, RJ45, coaxial and fiber-optic connectors. These products serve a wide array of end markets, including telecommunications, data communications, consumer electronics, industrial automation, automotive and renewable energy.

Founded in 1949 and headquartered in Oradell, New Jersey, Bel Fuse has grown through organic expansion and strategic acquisitions.

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