Bel Fuse (NASDAQ:BELFB) Releases Quarterly Earnings Results, Misses Expectations By $0.89 EPS

Bel Fuse (NASDAQ:BELFB) issued its quarterly earnings results on Wednesday. The electronics maker reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.89), Zacks reports. Bel Fuse had a return on equity of 9.75% and a net margin of 7.21%.

Bel Fuse Trading Up 1.8%

Shares of NASDAQ BELFB traded up $3.98 during trading hours on Wednesday, reaching $227.77. The stock had a trading volume of 170,248 shares, compared to its average volume of 218,290. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 55.02, a P/E/G ratio of 2.15 and a beta of 1.67. The business’s fifty day moving average price is $241.07 and its two-hundred day moving average price is $247.02. Bel Fuse has a 52-week low of $129.94 and a 52-week high of $335.29.

Insider Activity at Bel Fuse

In other Bel Fuse news, Director Vincent Vellucci sold 1,000 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $235.15, for a total transaction of $235,150.00. Following the transaction, the director directly owned 7,434 shares in the company, valued at $1,748,105.10. This trade represents a 11.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter E. Gilbert sold 500 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $292.12, for a total value of $146,060.00. Following the transaction, the director owned 750 shares in the company, valued at $219,090. The trade was a 40.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,893 shares of company stock worth $476,949. 5.37% of the stock is owned by insiders.

Analyst Ratings Changes

BELFB has been the topic of several research analyst reports. Bank of America began coverage on Bel Fuse in a research report on Tuesday, July 14th. They issued a “buy” rating and a $330.00 price objective on the stock. B. Riley Financial initiated coverage on Bel Fuse in a research report on Tuesday, July 14th. They set a “buy” rating for the company. Wall Street Zen raised shares of Bel Fuse from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. lowered their target price on shares of Bel Fuse from $380.00 to $330.00 and set an “overweight” rating for the company in a research note on Tuesday, October 13th. Finally, Zacks Research upgraded shares of Bel Fuse from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 14th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $315.67.

About Bel Fuse

Bel Fuse Inc is a designer, manufacturer and supplier of products that power, protect and connect electronic circuits. The company’s portfolio includes circuit protection devices, magnetic components, interconnect products, power supplies, power conversion solutions and discrete components used in electronic equipment and systems.

Bel Fuse serves customers in industries including telecommunications, networking, computing, industrial equipment, consumer electronics, automotive, medical technology, aerospace and defense.