Bel Fuse (NASDAQ:BELFB) Sets New 12-Month High - Time to Buy?

Key Points

• Bel Fuse Inc. shares recently reached a new 52-week high of $137.37, and analysts have shown increased confidence in the stock, with several raising their target prices, including Needham & Company, which set a target of $130.00 with a "buy" rating.
• The company announced a quarterly dividend increase from $0.06 to $0.07 per share, reflecting a commitment to returning value to shareholders, with a payout ratio of 6.86%.
• Insider selling activity was noted, with VP Kenneth Koon Keung Lai decreasing his stake by selling 4,000 shares, highlighting some shifts in insider confidence despite positive market trends.

Bel Fuse Inc. (NASDAQ:BELFB - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $137.37 and last traded at $136.87, with a volume of 128887 shares. The stock had previously closed at $132.60.

Wall Street Analyst Weigh In

BELFB has been the topic of several analyst reports. Northland Securities upped their target price on shares of Bel Fuse from $93.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, June 30th. Oppenheimer set a $125.00 target price on Bel Fuse and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Baird R W raised Bel Fuse to a "strong-buy" rating in a research report on Tuesday, June 10th. Robert W. Baird started coverage on Bel Fuse in a research report on Tuesday, June 10th. They issued an "outperform" rating and a $88.00 target price for the company. Finally, Wall Street Zen lowered shares of Bel Fuse from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 23rd. Two investment analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $113.60.

Bel Fuse Stock Down 1.3%

The company has a current ratio of 3.05, a quick ratio of 1.72 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $1.70 billion, a P/E ratio of 32.98, a P/E/G ratio of 1.76 and a beta of 1.52. The company has a 50 day simple moving average of $116.10 and a two-hundred day simple moving average of $89.54.

Bel Fuse Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 15th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.2%. The ex-dividend date is Wednesday, October 15th. This is a positive change from Bel Fuse's previous quarterly dividend of $0.06. Bel Fuse's dividend payout ratio is currently 6.86%.

Insider Activity at Bel Fuse

In other news, insider Stephen Dawson sold 1,200 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $127.07, for a total transaction of $152,484.00. Following the sale, the insider directly owned 14,265 shares of the company's stock, valued at $1,812,653.55. This represents a 7.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kenneth Koon Keung Lai sold 4,000 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $84.03, for a total value of $336,120.00. Following the transaction, the vice president owned 12,155 shares of the company's stock, valued at $1,021,384.65. This represents a 24.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,100 shares of company stock valued at $731,804 over the last 90 days. 5.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC lifted its position in Bel Fuse by 147.1% in the first quarter. CWM LLC now owns 383 shares of the electronics maker's stock worth $29,000 after buying an additional 228 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Bel Fuse in the second quarter worth $50,000. BNP Paribas Financial Markets raised its holdings in shares of Bel Fuse by 60.0% in the second quarter. BNP Paribas Financial Markets now owns 1,000 shares of the electronics maker's stock worth $98,000 after buying an additional 375 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Bel Fuse by 437.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,038 shares of the electronics maker's stock worth $101,000 after buying an additional 845 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Bel Fuse by 6.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the electronics maker's stock worth $156,000 after acquiring an additional 100 shares during the last quarter. 58.39% of the stock is currently owned by 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.