Bel Fuse (NASDAQ:BELFB) Shares Cross Above 50 Day Moving Average – Here’s Why

Shares of Bel Fuse Inc. (NASDAQ:BELFB) passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $238.42 and traded as high as $246.67. Bel Fuse shares last traded at $238.45, with a volume of 230,799 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Needham & Company LLC assumed coverage on Bel Fuse in a research report on Friday, October 30th. They set a “buy” rating and a $300.00 price objective on the stock. Northland Securities set a $326.00 price objective on Bel Fuse in a research note on Friday, July 31st. Zacks Research upgraded Bel Fuse from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 14th. Bank of America started coverage on Bel Fuse in a research note on Tuesday, July 14th. They set a “buy” rating and a $330.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on Bel Fuse from $330.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Bel Fuse presently has an average rating of “Moderate Buy” and an average target price of $320.67.

Bel Fuse Stock Up 1.5%

The company’s fifty day moving average is $238.42 and its two-hundred day moving average is $248.17. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 56.77, a PEG ratio of 1.76 and a beta of 1.70.

Bel Fuse (NASDAQ:BELFB) last posted its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $1.83 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.89). Bel Fuse had a return on equity of 8.53% and a net margin of 7.34%. The firm had revenue of $220.51 million for the quarter, compared to analyst estimates of $215.74 million. Sell-side analysts predict that Bel Fuse Inc. will post 6.98 EPS for the current fiscal year.

Bel Fuse Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Friday, January 15th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, January 15th. Bel Fuse’s payout ratio is 6.67%.

Insider Buying and Selling at Bel Fuse

In related news, Director Peter E. Gilbert sold 500 shares of the 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 of the company’s stock, valued at $219,090. This represents a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Vincent Vellucci sold 1,000 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $235.15, for a total value of $235,150.00. Following the completion of the sale, the director owned 7,434 shares in the company, valued at approximately $1,748,105.10. This represents a 11.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,893 shares of company stock valued at $476,949. Corporate insiders own 5.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BELFB. Janus Henderson Group PLC lifted its position in shares of Bel Fuse by 22.7% during the 1st 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 during the last quarter. Tidal Investments LLC grew its position in shares of Bel Fuse by 49.4% in the 2nd quarter. Tidal Investments LLC now owns 211,805 shares of the electronics maker’s stock valued at $70,540,000 after buying an additional 70,014 shares during the last quarter. Navellier & Associates Inc. grew its position in shares of Bel Fuse by 227.0% in the 2nd quarter. Navellier & Associates Inc. now owns 6,951 shares of the electronics maker’s stock valued at $2,315,000 after buying an additional 4,825 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Bel Fuse during the 1st quarter worth $2,915,000. Finally, Empowered Funds LLC acquired a new stake in shares of Bel Fuse during the first quarter worth about $351,000. 58.39% of the stock is owned by institutional investors and hedge funds.

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.