Bel Fuse (NASDAQ:BELFB) Reaches New 12-Month High - Here's What Happened

Key Points

• Shares hit a new 52-week high: Bel Fuse traded as high as $249.98 (last $248.32) on Friday with volume of 8,439, up from the prior close of $236.04.
• Analyst outlook is mixed but tilting positive: Needham raised its target to $250 and issued a "buy," and the MarketBeat consensus is a "Moderate Buy" with an average target of $216.50 (four Buys, two Holds).
• Notable insider selling: CEO Farouq Salem Ali Tuweiq sold 33,967 shares for roughly $7.95M and a director sold 4,500 shares, while insiders overall own about 5.37% of the stock.

Shares of Bel Fuse Inc. (NASDAQ:BELFB - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $249.98 and last traded at $248.3150, with a volume of 8439 shares. The stock had previously closed at $236.04.

Analyst Upgrades and Downgrades

BELFB has been the topic of a number of research reports. Needham & Company LLC boosted their target price on shares of Bel Fuse from $212.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, February 19th. Wall Street Zen lowered shares of Bel Fuse from a "buy" rating to a "hold" rating in a research report on Monday, March 16th. Zacks Research lowered shares of Bel Fuse from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 2nd. Weiss Ratings lowered shares of Bel Fuse from a "buy (b-)" rating to a "hold (c)" rating in a research report on Wednesday, February 25th. Finally, Northland Securities set a $266.00 target price on shares of Bel Fuse in a research report on Thursday, February 19th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $216.50.

Bel Fuse Stock Performance

The company has a market capitalization of $3.17 billion, a P/E ratio of 51.03, a price-to-earnings-growth ratio of 2.40 and a beta of 1.56. The firm has a 50 day moving average price of $218.35 and a two-hundred day moving average price of $184.98. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 3.02.

Bel Fuse Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Wednesday, April 15th. Bel Fuse's payout ratio is currently 5.70%.

Insider Buying and Selling at Bel Fuse

In other news, Director Peter E. Gilbert sold 4,500 shares of the business's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $238.75, for a total value of $1,074,375.00. Following the sale, the director owned 15,047 shares in the company, valued at approximately $3,592,471.25. The trade was a 23.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of the business's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $234.00, for a total transaction of $7,948,278.00. The SEC filing for this sale provides additional information. 5.37% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bel Fuse

Institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in Bel Fuse by 365.6% during the 4th quarter. Farther Finance Advisors LLC now owns 149 shares of the electronics maker's stock worth $25,000 after buying an additional 117 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in Bel Fuse during the 4th quarter worth about $33,000. Jones Financial Companies Lllp lifted its position in Bel Fuse by 139.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 259 shares of the electronics maker's stock worth $37,000 after buying an additional 151 shares in the last quarter. Federated Hermes Inc. lifted its position in Bel Fuse by 52.5% during the 3rd quarter. Federated Hermes Inc. now owns 334 shares of the electronics maker's stock worth $47,000 after buying an additional 115 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in Bel Fuse during the 3rd quarter worth about $78,000. Institutional investors and hedge funds own 58.39% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.