Bel Fuse (NASDAQ:BELFB) Hits New 12-Month High – Here’s Why

Bel Fuse Inc. (NASDAQ:BELFB)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $314.65 and last traded at $310.64, with a volume of 914854 shares trading hands. The stock had previously closed at $310.32.

Wall Street Analysts Forecast Growth

BELFB has been the subject of a number of analyst reports. JPMorgan Chase & Co. assumed coverage on Bel Fuse in a report on Wednesday, June 10th. They issued an “overweight” rating and a $370.00 price target for the company. Needham & Company LLC lifted their price objective on shares of Bel Fuse from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Weiss Ratings raised shares of Bel Fuse from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Oppenheimer restated an “outperform” rating and issued a $315.00 target price on shares of Bel Fuse in a research note on Friday, May 1st. Finally, Northland Securities set a $321.00 target price on shares of Bel Fuse in a research note on Monday, May 4th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Bel Fuse presently has an average rating of “Moderate Buy” and an average price target of $319.80.

Bel Fuse Stock Performance

The firm has a market capitalization of $3.95 billion, a PE ratio of 70.76, a price-to-earnings-growth ratio of 2.89 and a beta of 1.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.18 and a quick ratio of 1.73. The stock has a 50-day moving average price of $275.78 and a 200-day moving average price of $228.50.

Bel Fuse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Wednesday, July 15th. Bel Fuse’s dividend payout ratio (DPR) is 6.38%.

Hedge Funds Weigh In On Bel Fuse

Institutional investors have recently made changes to their positions in the business. Argent Capital Management LLC purchased a new position in shares of Bel Fuse during the 1st quarter valued at approximately $558,000. Bank of America Corp DE grew its position in shares of Bel Fuse by 0.9% during the first quarter. Bank of America Corp DE now owns 10,348 shares of the electronics maker’s stock worth $2,049,000 after buying an additional 89 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Bel Fuse by 22.7% during the first quarter. Janus Henderson Group PLC now owns 760,141 shares of the electronics maker’s stock worth $150,587,000 after buying an additional 140,804 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Bel Fuse by 37.2% in the first quarter. California State Teachers Retirement System now owns 13,217 shares of the electronics maker’s stock worth $2,617,000 after buying an additional 3,585 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Bel Fuse in the first quarter worth $351,000. 58.39% of the stock is owned by institutional investors and hedge funds.

About Bel Fuse

Bel Fuse Inc is a global manufacturer of electronic components that bridge power, data and video applications. The company offers a comprehensive portfolio of products, including board-level circuit protection devices such as fuses, positive temperature coefficient (PTC) resistors and inductors; power transformers, modules and supplies; as well as connectivity solutions encompassing USB, HDMI, RJ45, coaxial and fiber-optic connectors. These products serve a wide array of end markets, including telecommunications, data communications, consumer electronics, industrial automation, automotive and renewable energy.

Founded in 1949 and headquartered in Oradell, New Jersey, Bel Fuse has grown through organic expansion and strategic acquisitions.