Bel Fuse (NASDAQ:BELFA) Shares Down 3.7% – What’s Next?

Bel Fuse Inc. (NASDAQ:BELFA)’s share price traded down 3.7% on Thursday . The company traded as low as $268.01 and last traded at $271.2450. Approximately 11,187 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 98,247 shares. The stock had previously closed at $281.67.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Bel Fuse from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Bel Fuse presently has an average rating of “Hold” and an average target price of $250.00.

Bel Fuse Stock Performance

The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 55.46 and a beta of 1.37. 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 of $251.25 and a 200 day moving average of $211.39.

Bel Fuse (NASDAQ:BELFA) last released its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.10. The company had revenue of $178.49 million for the quarter, compared to the consensus estimate of $172.07 million. Bel Fuse had a net margin of 7.84% and a return on equity of 22.38%.

Bel Fuse Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Wednesday, July 15th. Bel Fuse’s payout ratio is 5.78%.

Hedge Funds Weigh In On Bel Fuse

Hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC grew its holdings in Bel Fuse by 62.3% during the 1st quarter. Renaissance Technologies LLC now owns 68,253 shares of the scientific and technical instruments company’s stock worth $12,299,000 after acquiring an additional 26,200 shares during the period. Sei Investments Co. raised its position in shares of Bel Fuse by 110.2% during the 1st quarter. Sei Investments Co. now owns 9,681 shares of the scientific and technical instruments company’s stock valued at $1,745,000 after acquiring an additional 5,076 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Bel Fuse by 6,000.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 305 shares of the scientific and technical instruments company’s stock valued at $55,000 after purchasing an additional 300 shares during the period. Abel Hall LLC acquired a new position in shares of Bel Fuse in the 1st quarter valued at $205,000. Finally, Strs Ohio bought a new position in shares of Bel Fuse in the 1st quarter worth $396,000. 6.01% of the stock is owned by institutional investors.

About Bel Fuse

Bel Fuse Inc, incorporated in 1949 and headquartered in Jersey City, New Jersey, designs and manufactures a broad range of electronic components aimed at ensuring reliable power delivery, circuit protection and signal connectivity. The company operates through two primary segments—Power Solutions Group and Telecom Products Group—serving original equipment manufacturers in multiple end markets, including telecommunications, data communications, consumer electronics, industrial and transportation.

Within its Power Solutions Group, Bel Fuse offers magnetic components such as power and signal transformers, inductors and coils, as well as circuit protection devices including fuses and resettable polyfuses.