Bel Fuse (NASDAQ:BELFB) Sets New 1-Year High - Here's Why

Key Points

• 52-week high: Bel Fuse stock reached an intraday high of $307.00 (last at $286.89) and faces modestly bullish Wall Street sentiment with four Buy and two Hold ratings and an average target of $307.25.
• The company has a market cap of $3.63 billion and a high valuation (P/E 65.35), recent price momentum (50-day/200-day SMAs $226.67 / $195.93), and pays a small quarterly dividend of $0.07 (annualized $0.28, ~0.1% yield).
• Significant insider selling occurred this year: the CEO sold 33,967 shares (~$7.95M) and a director sold 4,500 shares (~$1.07M), with insiders now owning about 5.37% of the stock.

Bel Fuse Inc. (NASDAQ:BELFB - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $307.00 and last traded at $286.89, with a volume of 293739 shares traded. The stock had previously closed at $297.17.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BELFB. Robert W. Baird set a $293.00 price objective on Bel Fuse in a report on Friday, May 1st. Oppenheimer reiterated an "outperform" rating and set a $315.00 price objective on shares of Bel Fuse in a report on Friday, May 1st. Needham & Company LLC increased their price objective on Bel Fuse from $250.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Wall Street Zen lowered Bel Fuse from a "buy" rating to a "hold" rating in a report on Monday, March 16th. Finally, Northland Securities set a $321.00 price objective on Bel Fuse in a report on Monday. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Bel Fuse has an average rating of "Moderate Buy" and an average target price of $307.25.

Bel Fuse Trading Down 3.5%

The company has a fifty day simple moving average of $226.67 and a two-hundred day simple moving average of $195.93. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.18 and a quick ratio of 1.73. The company has a market capitalization of $3.63 billion, a P/E ratio of 65.35, a price-to-earnings-growth ratio of 2.96 and a beta of 1.75.

Bel Fuse Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.1%. The ex-dividend date was Wednesday, April 15th. Bel Fuse's dividend payout ratio (DPR) is 6.38%.

Insider Activity

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

Institutional Investors Weigh In On Bel Fuse

Several hedge funds and other institutional investors have recently made changes to their positions in BELFB. Farther Finance Advisors LLC grew its position in shares of Bel Fuse by 365.6% in the fourth quarter. Farther Finance Advisors LLC now owns 149 shares of the electronics maker's stock valued at $25,000 after purchasing an additional 117 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of Bel Fuse in the fourth quarter valued at about $33,000. Jones Financial Companies Lllp grew its position in shares of Bel Fuse by 139.8% in the third quarter. Jones Financial Companies Lllp now owns 259 shares of the electronics maker's stock valued at $37,000 after purchasing an additional 151 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Bel Fuse by 52.5% in the third quarter. Federated Hermes Inc. now owns 334 shares of the electronics maker's stock valued at $47,000 after purchasing an additional 115 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in Bel Fuse during the third quarter worth about $78,000. 58.39% of the stock is owned by institutional investors and hedge funds.

About Bel Fuse

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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