Bel Fuse (NASDAQ:BELFB) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Bel Fuse shares crossed above their 200-day moving average, reaching $265.97 before last trading at $255.46, while remaining below the 50-day average of $282.16.
• Analyst sentiment is favorable: seven analysts rate the stock Buy and two rate it Hold, producing a consensus “Moderate Buy” rating and a $324 target price.
• The company declared a quarterly dividend of $0.07 per share, equivalent to a $0.28 annualized payout and a 0.1% yield; an insider also sold 500 shares in August.

Bel Fuse Inc. (NASDAQ:BELFB - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $255.27 and traded as high as $265.97. Bel Fuse shares last traded at $255.46, with a volume of 144,258 shares trading hands.

Analyst Ratings Changes

BELFB has been the subject of several analyst reports. Robert W. Baird set a $293.00 price objective on Bel Fuse in a research report on Friday, May 1st. JPMorgan Chase & Co. raised their target price on Bel Fuse from $370.00 to $380.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Wall Street Zen raised Bel Fuse from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Bank of America assumed coverage on Bel Fuse in a research report on Tuesday, July 14th. They set a "buy" rating and a $330.00 price target for the company. Finally, Needham & Company LLC increased their price target on Bel Fuse from $250.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Bel Fuse currently has a consensus rating of "Moderate Buy" and a consensus target price of $324.00.

Bel Fuse Trading Down 2.7%

The business's 50-day simple moving average is $282.16 and its 200 day simple moving average is $255.27. The company has a market capitalization of $3.69 billion, a P/E ratio of 61.71, a P/E/G ratio of 2.78 and a beta of 1.72.

Bel Fuse Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.28 annualized dividend and a yield of 0.1%. Bel Fuse's payout ratio is presently 6.76%.

Insiders Place Their Bets

In other Bel Fuse news, Director Peter E. Gilbert sold 500 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $292.12, for a total transaction of $146,060.00. Following the completion of the transaction, the director directly owned 750 shares of the company's stock, valued at approximately $219,090. This trade represents a 40.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.37% of the stock is owned by company insiders.

Institutional Trading of Bel Fuse

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings 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 buying an additional 117 shares during the period. State of Wyoming acquired a new position in Bel Fuse during the first quarter worth about $30,000. KBC Group NV acquired a new position in Bel Fuse during the first quarter worth about $38,000. Kemnay Advisory Services Inc. bought a new stake in Bel Fuse in the fourth quarter worth about $33,000. Finally, Signature Equity Partners LLC acquired a new stake in Bel Fuse in the 1st quarter valued at about $39,000. Institutional investors own 58.39% of the company's stock.

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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