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

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BELFB. 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. Wall Street Zen lowered shares of Bel Fuse from a “buy” rating to a “hold” rating in a report on Monday, March 16th. JPMorgan Chase & Co. initiated coverage on shares of Bel Fuse in a research note on Wednesday, June 10th. They set an “overweight” rating and a $370.00 price objective for the company. Robert W. Baird set a $293.00 price objective on Bel Fuse in a report on Friday, May 1st. Finally, Northland Securities set a $321.00 target price on Bel Fuse in a research report on Monday, May 4th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.80.

Bel Fuse Stock Up 0.1%

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

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 annualized dividend and a yield of 0.1%. The ex-dividend date is Wednesday, July 15th. Bel Fuse’s payout ratio is currently 6.38%.

Hedge Funds Weigh In On Bel Fuse

A number of hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its position in Bel Fuse by 365.6% during the 4th quarter. Farther Finance Advisors LLC now owns 149 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 117 shares during the period. State of Wyoming purchased a new position in Bel Fuse in the first quarter valued at about $30,000. Kemnay Advisory Services Inc. purchased a new position in Bel Fuse in the fourth quarter valued at about $33,000. KBC Group NV purchased a new position in Bel Fuse in the first quarter valued at about $38,000. Finally, Signature Equity Partners LLC acquired a new position in shares of Bel Fuse during the first quarter worth about $39,000. Hedge funds and other institutional investors own 58.39% of the company’s stock.

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.