Bel Fuse (NASDAQ:BELFB) Reaches New 12-Month High - Still a Buy?

Key Points

• Bel Fuse Inc. shares hit a new 52-week high of $136.56, closing at $134.77 with significant trading volume.
• A majority of analysts have rated Bel Fuse as a "buy" or "strong-buy," with an increasing consensus price target now at $113.60.
• The company announced a dividend increase from $0.06 to $0.07 per share, scheduled for payment on October 31st.

Bel Fuse Inc. (NASDAQ:BELFB - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $136.56 and last traded at $134.77, with a volume of 12453 shares changing hands. The stock had previously closed at $134.66.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BELFB. Northland Securities raised their price objective on shares of Bel Fuse from $93.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, June 30th. Needham & Company LLC upped their price objective on shares of Bel Fuse from $116.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Baird R W upgraded shares of Bel Fuse to a "strong-buy" rating in a research note on Tuesday, June 10th. Robert W. Baird initiated coverage on shares of Bel Fuse in a research report on Tuesday, June 10th. They set an "outperform" rating and a $88.00 price objective on the stock. Finally, Oppenheimer set a $125.00 price target on shares of Bel Fuse and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Five equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $113.60.

Bel Fuse Price Performance

The company has a 50-day simple moving average of $103.05 and a 200-day simple moving average of $84.89. The stock has a market cap of $1.72 billion, a PE ratio of 33.26, a PEG ratio of 1.76 and a beta of 1.52. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.05 and a quick ratio of 1.72.

Bel Fuse Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 15th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This is an increase from Bel Fuse's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.2%. Bel Fuse's dividend payout ratio is 6.86%.

Insiders Place Their Bets

In other Bel Fuse news, VP Kenneth Koon Keung Lai sold 1,900 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $128.00, for a total value of $243,200.00. Following the sale, the vice president directly owned 10,255 shares of the company's stock, valued at approximately $1,312,640. This trade represents a 15.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Dawson sold 1,200 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $127.07, for a total value of $152,484.00. Following the completion of the sale, the insider directly owned 14,265 shares in the company, valued at approximately $1,812,653.55. The trade was a 7.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,100 shares of company stock worth $731,804. Corporate insiders own 5.37% of the company's stock.

Hedge Funds Weigh In On Bel Fuse

Large investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Bel Fuse by 6,826.9% during the 1st quarter. GAMMA Investing LLC now owns 4,641 shares of the electronics maker's stock worth $347,000 after acquiring an additional 4,574 shares in the last quarter. Herald Investment Management Ltd lifted its position in Bel Fuse by 25.0% during the 1st quarter. Herald Investment Management Ltd now owns 30,000 shares of the electronics maker's stock worth $2,239,000 after acquiring an additional 6,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Bel Fuse by 26.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,254 shares of the electronics maker's stock worth $1,670,000 after purchasing an additional 4,204 shares during the last quarter. Millennium Management LLC purchased a new stake in Bel Fuse during the 4th quarter worth approximately $305,000. Finally, Teacher Retirement System of Texas purchased a new stake in Bel Fuse during the 1st quarter worth approximately $404,000. 58.39% of the stock is currently owned by hedge funds and other institutional investors.

Bel Fuse Company Profile

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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