Granahan Investment Management LLC Sells 8,023 Shares of Bel Fuse Inc. $BELFB

Key Points

• Granahan Investment Management LLC reduced its holdings in Bel Fuse Inc. by 5.0%, owning 151,481 shares valued at approximately $11.34 million after selling 8,023 shares.
• Bel Fuse recently declared a quarterly dividend increase from $0.06 to $0.07 per share, with a payment date set for October 31st.
• Wall Street analysts have varying ratings for Bel Fuse, with one analyst giving it a Strong Buy rating and others assigning it a "Buy" rating, alongside a consensus target price of $126.80.

Granahan Investment Management LLC decreased its holdings in shares of Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,481 shares of the electronics maker's stock after selling 8,023 shares during the quarter. Granahan Investment Management LLC owned about 1.20% of Bel Fuse worth $11,340,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Principal Financial Group Inc. grew its position in shares of Bel Fuse by 4.5% during the 1st quarter. Principal Financial Group Inc. now owns 4,411 shares of the electronics maker's stock worth $330,000 after buying an additional 189 shares during the period. CWM LLC grew its position in shares of Bel Fuse by 147.1% during the 1st quarter. CWM LLC now owns 383 shares of the electronics maker's stock worth $29,000 after buying an additional 228 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Bel Fuse by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,887 shares of the electronics maker's stock worth $486,000 after buying an additional 234 shares during the period. Mackenzie Financial Corp grew its position in shares of Bel Fuse by 5.1% during the 1st quarter. Mackenzie Financial Corp now owns 6,584 shares of the electronics maker's stock worth $493,000 after buying an additional 320 shares during the period. Finally, Bridgeway Capital Management LLC grew its position in shares of Bel Fuse by 4.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 11,506 shares of the electronics maker's stock worth $949,000 after buying an additional 523 shares during the period. Institutional investors and hedge funds own 58.39% of the company's stock.

Bel Fuse Trading Up 0.6%

NASDAQ:BELFB traded up $0.82 on Friday, reaching $143.88. 171,971 shares of the stock traded hands, compared to its average volume of 129,975. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 35.26, a price-to-earnings-growth ratio of 1.86 and a beta of 1.59. The company's 50 day moving average is $120.66 and its 200-day moving average is $91.62. The company has a current ratio of 3.05, a quick ratio of 1.72 and a debt-to-equity ratio of 0.63. Bel Fuse Inc. has a 1-year low of $57.99 and a 1-year high of $145.79.

Bel Fuse Increases Dividend

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

Insider Buying and Selling at Bel Fuse

In other news, insider Stephen Dawson sold 1,200 shares of Bel Fuse stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $127.07, for a total value of $152,484.00. Following the completion of the sale, the insider owned 14,265 shares in the company, valued at $1,812,653.55. The trade was a 7.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Kenneth Koon Keung Lai sold 1,900 shares of Bel Fuse stock in a transaction on Friday, August 1st. The shares were sold at an average price of $128.00, for a total transaction of $243,200.00. Following the completion of the sale, the vice president owned 10,255 shares of the company's stock, valued at $1,312,640. This represents a 15.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,100 shares of company stock valued at $731,804 in the last quarter. 5.37% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on BELFB shares. Oppenheimer set a $125.00 price objective on shares of Bel Fuse and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Needham & Company LLC lifted their price objective on shares of Bel Fuse from $116.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Northland Securities lifted their price objective 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. Wall Street Zen lowered shares of Bel Fuse from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 23rd. Finally, Baird R W raised shares of Bel Fuse to a "strong-buy" rating in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $126.80.

About Bel Fuse

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.