Bel Fuse (NASDAQ:BELFB) Shares Gap Up - Here's What Happened

Key Points

• Bel Fuse Inc. shares experienced a significant uptick, opening at $107.70 after a previous close of $102.98, and last traded at $113.86.
• Wall Street analysts have a consensus rating of "Buy" for Bel Fuse, with an average price target of $106.60, following positive ratings from various research firms.
• The company reported an EPS of $1.35 for the last quarter, surpassing analysts' expectations of $0.85, with revenue of $152.24 million.
• Insider trading activity showed VP Kenneth Koon Keung Lai sold 4,000 shares, indicating a 24.76% decrease in his position while 5.37% of the stock is owned by insiders.

Bel Fuse Inc. (NASDAQ:BELFB - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $102.98, but opened at $107.70. Bel Fuse shares last traded at $113.86, with a volume of 34,214 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Northland Securities lifted their price target 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 price target on shares of Bel Fuse and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Baird R W upgraded shares of Bel Fuse to a "strong-buy" rating in a research note on Tuesday, June 10th. Robert W. Baird assumed coverage on shares of Bel Fuse in a research note on Tuesday, June 10th. They issued an "outperform" rating and a $88.00 price target for the company. Finally, Needham & Company LLC decreased their price target on shares of Bel Fuse from $100.00 to $95.00 and set a "buy" rating for the company in a research note on Monday, April 28th. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $106.60.

Bel Fuse Stock Up 13.7%

The firm has a market cap of $1.48 billion, a PE ratio of 33.99, a P/E/G ratio of 1.52 and a beta of 1.51. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.83 and a current ratio of 3.31. The firm's 50-day moving average price is $88.49 and its two-hundred day moving average price is $80.40.

Bel Fuse (NASDAQ:BELFB - Get Free Report) last announced its earnings results on Thursday, April 24th. The electronics maker reported $1.35 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.50. The business had revenue of $152.24 million for the quarter, compared to analysts' expectations of $147.93 million. Bel Fuse had a net margin of 7.69% and a return on equity of 12.38%. As a group, equities research analysts expect that Bel Fuse Inc. will post 4.63 EPS for the current fiscal year.

Insider Activity at Bel Fuse

In other news, VP Kenneth Koon Keung Lai sold 4,000 shares of Bel Fuse stock in a transaction 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 directly owned 12,155 shares of the company's stock, valued at $1,021,384.65. The trade was a 24.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Bel Fuse

A number of large investors have recently bought and sold shares of BELFB. Bessemer Group Inc. purchased a new position in Bel Fuse during the 1st quarter worth $19,007,000. Makaira Partners LLC acquired a new position in shares of Bel Fuse during the 1st quarter worth $18,415,000. Brown Advisory Inc. acquired a new position in shares of Bel Fuse during the 4th quarter worth $11,807,000. Janus Henderson Group PLC grew its stake in shares of Bel Fuse by 55.4% during the 4th quarter. Janus Henderson Group PLC now owns 398,123 shares of the electronics maker's stock worth $32,821,000 after purchasing an additional 141,951 shares during the period. Finally, Portolan Capital Management LLC grew its stake in shares of Bel Fuse by 72.5% during the 4th quarter. Portolan Capital Management LLC now owns 208,470 shares of the electronics maker's stock worth $17,193,000 after purchasing an additional 87,612 shares during the period. Hedge funds and other institutional investors own 58.39% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.