Bel Fuse (NASDAQ:BELFA) Shares Break Below 200 Day Moving Average - Here's Why

Key Points

• Bel Fuse shares fell below their 200-day moving average, reaching $179.70 before last trading at $187.97, compared with the 200-day average of $226.71.
• Despite the technical decline, analysts maintain a “Moderate Buy” consensus with an average price target of $250; the company also exceeded quarterly earnings and revenue expectations.
• Bel Fuse declared a quarterly dividend of $0.06 per share, while recent insider transactions involved director share sales and institutional investors increased their holdings.

Bel Fuse Inc. (NASDAQ:BELFA - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $226.71 and traded as low as $179.70. Bel Fuse shares last traded at $187.97, with a volume of 90,137 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Weiss Ratings cut Bel Fuse from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, August 26th. Citigroup assumed coverage on Bel Fuse in a research report on Monday, July 13th. They issued a "buy" rating for the company. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Bel Fuse currently has a consensus rating of "Moderate Buy" and an average price target of $250.00.

Bel Fuse Price Performance

The stock has a market cap of $2.71 billion, a P/E ratio of 48.07 and a beta of 1.37. The firm's fifty day moving average price is $209.29 and its two-hundred day moving average price is $226.71.

Bel Fuse (NASDAQ:BELFA - Get Free Report) last posted its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.76 EPS for the quarter, topping the consensus estimate of $2.34 by $0.42. The business had revenue of $210.69 million during the quarter, compared to analysts' expectations of $206.39 million. Bel Fuse had a return on equity of 20.55% and a net margin of 7.21%.

Bel Fuse Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Thursday, October 15th. Bel Fuse's dividend payout ratio (DPR) is currently 6.14%.

Insider Activity at Bel Fuse

In other Bel Fuse news, Director Vincent Vellucci sold 393 shares of the business's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $243.61, for a total value of $95,738.73. Following the completion of the transaction, the director owned 8,434 shares of the company's stock, valued at $2,054,606.74. The trade was a 4.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 in the company, valued at $219,090. The trade was a 40.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 4.75% of the company's stock.

Hedge Funds Weigh In On Bel Fuse

A number of hedge funds and other institutional investors have recently modified their holdings of BELFA. State Street Corp boosted its stake in shares of Bel Fuse by 55.4% in the 2nd quarter. State Street Corp now owns 44,736 shares of the scientific and technical instruments company's stock valued at $13,028,000 after purchasing an additional 15,946 shares in the last quarter. FNY Investment Advisers LLC grew its stake in shares of Bel Fuse by 16.9% during the second quarter. FNY Investment Advisers LLC now owns 1,239 shares of the scientific and technical instruments company's stock valued at $360,000 after buying an additional 179 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Bel Fuse by 62.3% during the first quarter. Renaissance Technologies LLC now owns 68,253 shares of the scientific and technical instruments company's stock valued at $12,299,000 after buying an additional 26,200 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Bel Fuse by 110.2% in the first quarter. Sei Investments Co. now owns 9,681 shares of the scientific and technical instruments company's stock worth $1,745,000 after buying an additional 5,076 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Bel Fuse by 6,000.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 305 shares of the scientific and technical instruments company's stock valued at $55,000 after acquiring an additional 300 shares during the last quarter. 6.01% of the stock is currently owned by hedge funds and other institutional investors.

About Bel Fuse

Bel Fuse Inc designs, manufactures and markets products used to protect, connect and manage power in electronic systems. Its product portfolio includes circuit protection devices, connectors, cable assemblies, magnetics, discrete components, power supplies and DC-to-DC converters.

The company serves a range of markets, including telecommunications and networking, data centers, industrial equipment, consumer electronics, automotive, medical, transportation, aerospace and defense. Bel Fuse sells its products to original equipment manufacturers, contract manufacturers and distributors in North America, Asia and Europe.

Founded in 1949, Bel Fuse has developed a global operating and distribution presence supporting customers across multiple regions.

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