Bel Fuse (NASDAQ:BELFA) Shares Gap Up - What's Next?

Key Points

• Bel Fuse shares opened 6.2% higher at $176.88 after previously closing at $166.51, though they later traded around $171.57.
• Analyst sentiment is moderately positive: Bel Fuse has one Buy and one Hold rating, with a consensus price target of $250.
• The company exceeded quarterly expectations, reporting adjusted EPS of $2.76 versus $2.34 expected and revenue of $210.69 million versus $206.39 million expected; meanwhile, two directors sold shares and insiders own 4.75% of the stock.

Bel Fuse Inc. (NASDAQ:BELFA - Get Free Report)'s stock price gapped up before the market opened on Tuesday. The stock had previously closed at $166.51, but opened at $176.88. Bel Fuse shares last traded at $171.5740, with a volume of 8,773 shares traded.

Wall Street Analyst Weigh In

BELFA has been the topic of several recent research reports. Weiss Ratings lowered shares of Bel Fuse from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, August 26th. Citigroup started coverage on shares of Bel Fuse in a research report on Monday, July 13th. They set a "buy" rating for the company. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Bel Fuse presently has an average rating of "Moderate Buy" and a consensus price target of $250.00.

Bel Fuse Trading Up 4.2%

The stock has a 50 day moving average price of $198.37 and a two-hundred day moving average price of $215.29. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 44.34 and a beta of 1.37.

Bel Fuse (NASDAQ:BELFA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The scientific and technical instruments company reported $2.76 EPS for the quarter, topping analysts' consensus estimates 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%.

Insider Transactions at Bel Fuse

In related news, Director Peter E. Gilbert sold 500 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $292.12, for a total value of $146,060.00. Following the sale, the director directly owned 750 shares in the company, valued at $219,090. This trade represents a 40.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Vincent Vellucci sold 393 shares of Bel Fuse stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $243.61, for a total transaction of $95,738.73. Following the transaction, the director directly owned 8,434 shares in the company, valued at $2,054,606.74. The trade was a 4.45% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bel Fuse

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp increased its position 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 buying an additional 15,946 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Bel Fuse by 62.3% in the first quarter. Renaissance Technologies LLC now owns 68,253 shares of the scientific and technical instruments company's stock worth $12,299,000 after acquiring an additional 26,200 shares in the last quarter. Sei Investments Co. raised its position in shares of Bel Fuse by 110.2% during 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 purchasing an additional 5,076 shares during the period. Strs Ohio acquired a new stake in shares of Bel Fuse during the first quarter worth about $396,000. Finally, FNY Investment Advisers LLC lifted its holdings in shares of Bel Fuse by 16.9% during the 2nd quarter. FNY Investment Advisers LLC now owns 1,239 shares of the scientific and technical instruments company's stock valued at $360,000 after purchasing an additional 179 shares in the last quarter. 6.01% of the stock is owned by institutional investors.

About Bel Fuse

Bel Fuse Inc designs, manufactures and markets products that support power management, circuit protection, connectivity and signal transmission. Its portfolio includes fuses and other circuit-protection devices, power supplies, DC-DC converters, magnetics, connectors, cable assemblies and discrete components used in electronic systems.

The company serves a range of markets, including networking and telecommunications, data centers, consumer electronics, automotive, medical, industrial, aerospace and defense applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.