Bel Fuse (NASDAQ:BELFA) Releases Quarterly Earnings Results, Beats Estimates By $0.42 EPS

Bel Fuse (NASDAQ:BELFA) released its quarterly earnings results on Wednesday. The scientific and technical instruments company reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.42, FiscalAI reports. The company 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 26.26% and a net margin of 7.21%.

Bel Fuse Price Performance

Shares of NASDAQ BELFA traded up $16.10 during midday trading on Friday, hitting $225.82. The stock had a trading volume of 83,523 shares, compared to its average volume of 106,769. The stock has a 50 day simple moving average of $244.15 and a 200-day simple moving average of $221.27. 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 company has a market capitalization of $2.87 billion, a PE ratio of 57.62 and a beta of 1.37. Bel Fuse has a 1 year low of $107.51 and a 1 year high of $293.51.

Institutional Investors Weigh In On Bel Fuse

A number of hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets raised its position in shares of Bel Fuse by 92.2% in the third quarter. BNP Paribas Financial Markets now owns 319 shares of the scientific and technical instruments company’s stock valued at $37,000 after buying an additional 153 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in Bel Fuse during the fourth quarter worth about $61,000. Deutsche Bank AG purchased a new stake in Bel Fuse during the 4th quarter valued at about $111,000. Tower Research Capital LLC TRC grew its stake in Bel Fuse by 447.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 744 shares of the scientific and technical instruments company’s stock valued at $67,000 after acquiring an additional 608 shares in the last quarter. Finally, PenderFund Capital Management Ltd. acquired a new stake in Bel Fuse in the 4th quarter valued at about $243,000. 6.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BELFA has been the subject of a number of recent analyst reports. Weiss Ratings cut Bel Fuse from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday. Citigroup initiated coverage on shares of Bel Fuse in a report on Monday, July 13th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Bel Fuse currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.00.

About Bel Fuse

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.