Millennium Management LLC Acquires New Stake in Bel Fuse Inc. (NASDAQ:BELFB)

Millennium Management LLC purchased a new position in shares of Bel Fuse Inc. (NASDAQ:BELFB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,701 shares of the electronics maker's stock, valued at approximately $305,000.

A number of other institutional investors have also added to or reduced their stakes in the company. NEOS Investment Management LLC purchased a new position in shares of Bel Fuse during the 4th quarter valued at $752,000. Paragon Associates & Paragon Associates II Joint Venture lifted its holdings in Bel Fuse by 7.9% during the fourth quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 68,000 shares of the electronics maker's stock valued at $5,608,000 after purchasing an additional 5,000 shares during the last quarter. Intech Investment Management LLC bought a new position in Bel Fuse during the fourth quarter worth about $371,000. Franklin Resources Inc. raised its position in shares of Bel Fuse by 106.1% in the fourth quarter. Franklin Resources Inc. now owns 10,876 shares of the electronics maker's stock valued at $897,000 after purchasing an additional 5,600 shares during the period. Finally, Portolan Capital Management LLC lifted 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 valued at $17,193,000 after buying an additional 87,612 shares in the last quarter. 58.39% of the stock is owned by institutional investors.

Bel Fuse Trading Up 1.3%

NASDAQ:BELFB traded up $1.12 during trading hours on Thursday, reaching $84.17. The company's stock had a trading volume of 31,079 shares, compared to its average volume of 80,508. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.66 and a current ratio of 2.92. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 1.24 and a beta of 1.46. The firm has a 50-day simple moving average of $71.72 and a 200-day simple moving average of $77.43. Bel Fuse Inc. has a 1 year low of $58.00 and a 1 year high of $92.61.

Bel Fuse (NASDAQ:BELFB - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The electronics maker reported $1.35 EPS for the quarter, topping the consensus estimate of $0.85 by $0.50. The firm had revenue of $152.24 million for the quarter, compared to the consensus estimate of $147.93 million. Bel Fuse had a return on equity of 12.37% and a net margin of 7.66%. Research analysts expect that Bel Fuse Inc. will post 4.63 EPS for the current fiscal year.

Bel Fuse Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 15th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Tuesday, July 15th. Bel Fuse's payout ratio is 8.14%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Robert W. Baird initiated coverage on shares of Bel Fuse in a report on Tuesday. They issued an "outperform" rating and a $88.00 price target for the company. Baird R W upgraded Bel Fuse to a "strong-buy" rating in a research note on Tuesday. Wall Street Zen downgraded Bel Fuse from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Needham & Company LLC decreased their price objective on shares of Bel Fuse from $100.00 to $95.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Finally, Craig Hallum initiated coverage on shares of Bel Fuse in a research report on Tuesday, March 25th. They set a "buy" rating and a $115.00 target price for the company. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $99.60.

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.