Royce & Associates LP cut its holdings in shares of Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 417,601 shares of the electronics maker's stock after selling 16,278 shares during the quarter. Royce & Associates LP owned approximately 3.33% of Bel Fuse worth $31,262,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. GW&K Investment Management LLC lifted its holdings in shares of Bel Fuse by 2.1% in the 1st quarter. GW&K Investment Management LLC now owns 217,998 shares of the electronics maker's stock worth $16,319,000 after acquiring an additional 4,405 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Bel Fuse during the first quarter valued at approximately $4,280,000. CWM LLC boosted its holdings in shares of Bel Fuse by 147.1% in the first quarter. CWM LLC now owns 383 shares of the electronics maker's stock worth $29,000 after buying an additional 228 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Bel Fuse by 4.5% in the first 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. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Bel Fuse during the first quarter worth about $404,000. 58.39% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, VP Kenneth Koon Keung Lai sold 4,000 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $84.03, for a total value of $336,120.00. Following the completion of the sale, the vice president owned 12,155 shares of the company's stock, valued at $1,021,384.65. This trade represents a 24.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 5.37% of the stock is owned by company insiders.
Bel Fuse Stock Up 16.4%
BELFB traded up $16.86 during trading hours on Friday, reaching $119.84. 364,814 shares of the stock traded hands, compared to its average volume of 158,611. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 29.37, a PEG ratio of 1.70 and a beta of 1.51. Bel Fuse Inc. has a fifty-two week low of $57.99 and a fifty-two week high of $122.70. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.31 and a quick ratio of 1.83. The firm's fifty day simple moving average is $89.36 and its two-hundred day simple moving average is $80.69.
Bel Fuse (NASDAQ:BELFB - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The electronics maker reported $1.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.50. Bel Fuse had a return on equity of 14.47% and a net margin of 8.59%. The business had revenue of $152.24 million for the quarter, compared to analysts' expectations of $147.93 million. As a group, analysts forecast that Bel Fuse Inc. will post 4.63 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms recently commented on BELFB. Northland Securities increased their target price on shares of Bel Fuse from $93.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, June 30th. Baird R W raised Bel Fuse to a "strong-buy" rating in a research note on Tuesday, June 10th. Needham & Company LLC lifted their target price on shares of Bel Fuse from $116.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday. Wall Street Zen upgraded shares of Bel Fuse from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Finally, Robert W. Baird initiated coverage on shares of Bel Fuse in a research note on Tuesday, June 10th. They issued an "outperform" rating and a $88.00 price objective for the company. Five research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bel Fuse presently has a consensus rating of "Buy" and a consensus price target of $113.60.
View Our Latest Analysis on Bel Fuse
Bel Fuse Profile
(
Free Report)
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.
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