Bel Fuse (NASDAQ:BELFA) Sets New 1-Year High – Here’s What Happened

Bel Fuse Inc. (NASDAQ:BELFA) shares reached a new 52-week high during trading on Thursday . The company traded as high as $129.66 and last traded at $129.50, with a volume of 268 shares changing hands. The stock had previously closed at $127.40.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Bel Fuse in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Bel Fuse currently has an average rating of “Buy” and an average target price of $115.00.

Bel Fuse Stock Up 2.6%

The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 35.94 and a beta of 1.25. The company has a quick ratio of 1.72, a current ratio of 3.05 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average of $118.69 and a two-hundred day moving average of $94.23.

Bel Fuse (NASDAQ:BELFA) last issued its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.43. Bel Fuse had a return on equity of 18.33% and a net margin of 8.59%.The firm had revenue of $168.30 million for the quarter, compared to analysts’ expectations of $149.60 million.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Gabelli Funds LLC raised its position in Bel Fuse by 0.3% in the second quarter. Gabelli Funds LLC now owns 67,400 shares of the scientific and technical instruments company’s stock valued at $6,056,000 after purchasing an additional 200 shares during the period. American Century Companies Inc. raised its position in Bel Fuse by 19.6% in the first quarter. American Century Companies Inc. now owns 35,895 shares of the scientific and technical instruments company’s stock valued at $2,587,000 after purchasing an additional 5,876 shares during the period. Investors Asset Management of Georgia Inc. GA ADV raised its position in Bel Fuse by 0.4% in the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 26,151 shares of the scientific and technical instruments company’s stock valued at $3,043,000 after purchasing an additional 100 shares during the period. Herald Investment Management Ltd raised its position in Bel Fuse by 87.5% in the first quarter. Herald Investment Management Ltd now owns 7,500 shares of the scientific and technical instruments company’s stock valued at $540,000 after purchasing an additional 3,500 shares during the period. Finally, Cynosure Group LLC raised its position in Bel Fuse by 23.2% in the second quarter. Cynosure Group LLC now owns 5,302 shares of the scientific and technical instruments company’s stock valued at $476,000 after purchasing an additional 1,000 shares during the period. 6.01% of the stock is owned by hedge funds and other institutional investors.

About Bel Fuse

Bel Fuse Inc designs, manufactures, markets, and sells products that power, protect, and connect electronic circuits. The company's products are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries.