Bel Fuse (NASDAQ:BELFA) Shares Gap Down – What’s Next?

Bel Fuse Inc. (NASDAQ:BELFA) gapped down prior to trading on Wednesday . The stock had previously closed at $237.00, but opened at $214.54. Bel Fuse shares last traded at $215.6220, with a volume of 3,755 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Bel Fuse from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $250.00.

Bel Fuse Stock Performance

The stock has a market capitalization of $2.70 billion, a PE ratio of 51.45 and a beta of 1.37. The company has a quick ratio of 1.73, a current ratio of 3.18 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average of $250.37 and a 200-day moving average of $212.93.

Bel Fuse (NASDAQ:BELFA) last posted its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.10. The company had revenue of $178.49 million for the quarter, compared to analyst estimates of $172.07 million. Bel Fuse had a return on equity of 22.38% and a net margin of 7.84%.

Bel Fuse Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a $0.06 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $0.24 dividend on an annualized basis and a yield of 0.1%. Bel Fuse’s payout ratio is currently 5.78%.

Institutional Investors Weigh In On Bel Fuse

A number of hedge funds and other institutional investors have recently modified their holdings of the company. 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 worth $12,299,000 after purchasing an additional 26,200 shares in the last quarter. Vanguard Group Inc. raised its stake in Bel Fuse by 13.9% in the third quarter. Vanguard Group Inc. now owns 52,614 shares of the scientific and technical instruments company’s stock valued at $6,122,000 after buying an additional 6,408 shares in the last quarter. Hound Partners LLC purchased a new stake in Bel Fuse during the 4th quarter worth about $5,714,000. Geode Capital Management LLC boosted its position in shares of Bel Fuse by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 37,606 shares of the scientific and technical instruments company’s stock worth $5,709,000 after acquiring an additional 2,674 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Bel Fuse by 1.8% during the 4th quarter. State Street Corp now owns 21,706 shares of the scientific and technical instruments company’s stock worth $3,295,000 after acquiring an additional 378 shares in the last quarter. 6.01% of the stock is currently owned by institutional investors and hedge funds.

Bel Fuse Company Profile

Bel Fuse Inc, incorporated in 1949 and headquartered in Jersey City, New Jersey, designs and manufactures a broad range of electronic components aimed at ensuring reliable power delivery, circuit protection and signal connectivity. The company operates through two primary segments—Power Solutions Group and Telecom Products Group—serving original equipment manufacturers in multiple end markets, including telecommunications, data communications, consumer electronics, industrial and transportation.

Within its Power Solutions Group, Bel Fuse offers magnetic components such as power and signal transformers, inductors and coils, as well as circuit protection devices including fuses and resettable polyfuses.