Bel Fuse (NASDAQ:BELFB) Stock Price Down 7.5% - Here's What Happened

Key Points

• Bel Fuse shares fell 7.5% to $252.35 in Monday trading, with volume roughly 87% below the stock’s average session volume.
• Analyst sentiment remains broadly positive: eight analysts rate the stock a Buy and one rates it a Sell, with a consensus rating of “Moderate Buy” and an average price target of $321.50.
• The company announced a quarterly dividend of $0.07 per share, equal to $0.28 annually and a 0.1% yield; institutional investors own approximately 58.39% of outstanding shares.

Shares of Bel Fuse Inc. (NASDAQ:BELFB - Get Free Report) were down 7.5% during trading on Monday . The stock traded as low as $254.42 and last traded at $252.35. Approximately 29,728 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 234,070 shares. The stock had previously closed at $272.80.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BELFB. Oppenheimer reiterated an "outperform" rating and set a $315.00 price target on shares of Bel Fuse in a research note on Friday, May 1st. Needham & Company LLC raised their price objective on shares of Bel Fuse from $250.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Citigroup initiated coverage on Bel Fuse in a research report on Monday, July 13th. They set a "buy" rating on the stock. Bank of America initiated coverage on Bel Fuse in a research note on Tuesday, July 14th. They set a "buy" rating and a $330.00 target price for the company. Finally, Northland Securities set a $321.00 price target on Bel Fuse in a research note on Monday, May 4th. Eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Bel Fuse presently has a consensus rating of "Moderate Buy" and a consensus target price of $321.50.

Bel Fuse Stock Performance

The company has a quick ratio of 1.73, a current ratio of 3.18 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $3.24 billion, a PE ratio of 57.99, a PEG ratio of 2.83 and a beta of 1.68. The stock's fifty day simple moving average is $280.40 and its 200-day simple moving average is $244.39.

Bel Fuse Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, July 15th. Bel Fuse's dividend payout ratio (DPR) is presently 6.38%.

Institutional Trading of Bel Fuse

A number of institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its stake in shares of Bel Fuse by 365.6% during the 4th quarter. Farther Finance Advisors LLC now owns 149 shares of the electronics maker's stock worth $25,000 after buying an additional 117 shares during the last quarter. State of Wyoming acquired a new position in Bel Fuse during the first quarter worth about $30,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Bel Fuse in the fourth quarter valued at about $33,000. KBC Group NV acquired a new stake in Bel Fuse during the 1st quarter valued at $38,000. Finally, Signature Equity Partners LLC acquired a new position in shares of Bel Fuse in the first quarter worth $39,000. 58.39% of the stock is currently owned by hedge funds and other institutional investors.

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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