Bel Fuse (NASDAQ:BELFB) Hits New 52-Week High - Still a Buy?

Key Points

• Bel Fuse Inc.'s stock reached a new 52-week high, trading at $150.84, reflecting an increase from its previous closing price of $144.60.
• Analysts have shown optimism, with price target increases from Robert W. Baird and Oppenheimer, suggesting an average target of $136.80 and a consensus rating of "Buy" for the stock.
• The company announced a boost in its quarterly dividend to $0.07 per share, effective for the upcoming payment date of October 31st, reflecting a commitment to returning value to shareholders.

Bel Fuse Inc. (NASDAQ:BELFB - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $151.50 and last traded at $150.84, with a volume of 37276 shares. The stock had previously closed at $144.60.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Robert W. Baird raised their price target on shares of Bel Fuse from $130.00 to $154.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 3rd. Baird R W raised shares of Bel Fuse to a "strong-buy" rating in a report on Tuesday, June 10th. Oppenheimer raised their price objective on shares of Bel Fuse from $140.00 to $175.00 and gave the company an "outperform" rating in a research report on Tuesday. Wall Street Zen upgraded shares of Bel Fuse from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Finally, Northland Securities boosted their price objective on shares of Bel Fuse from $93.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat, Bel Fuse has a consensus rating of "Buy" and an average target price of $136.80.

Bel Fuse Price Performance

The company has a quick ratio of 1.72, a current ratio of 3.05 and a debt-to-equity ratio of 0.63. The company's 50 day moving average is $129.74 and its 200 day moving average is $95.78. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 34.82, a P/E/G ratio of 1.84 and a beta of 1.59.

Bel Fuse Increases Dividend

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

Insider Transactions at Bel Fuse

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

Institutional Investors Weigh In On Bel Fuse

A number of hedge funds have recently made changes to their positions in the business. Bessemer Group Inc. purchased a new stake in shares of Bel Fuse during the first quarter valued at $19,007,000. Makaira Partners LLC purchased a new stake in shares of Bel Fuse during the first quarter valued at $18,415,000. Wasatch Advisors LP boosted its position in shares of Bel Fuse by 33.6% during the second quarter. Wasatch Advisors LP now owns 284,014 shares of the electronics maker's stock valued at $27,745,000 after buying an additional 71,390 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Bel Fuse during the first quarter valued at $4,280,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Bel Fuse in the fourth quarter valued at about $4,552,000. 58.39% of the stock is currently owned by 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.