Bel Fuse (NASDAQ:BELFA) Shares Gap Down – Here’s What Happened

Bel Fuse Inc. (NASDAQ:BELFA)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $60.95, but opened at $58.46. Bel Fuse shares last traded at $63.58, with a volume of 3,488 shares.

Analyst Upgrades and Downgrades

Separately, Craig Hallum set a $115.00 target price on Bel Fuse and gave the company a “buy” rating in a research note on Tuesday, March 25th.

Bel Fuse Stock Performance

The stock’s 50 day simple moving average is $78.44 and its two-hundred day simple moving average is $90.10. The company has a market capitalization of $784.75 million, a P/E ratio of 20.25 and a beta of 0.99. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.92 and a quick ratio of 1.66.

Bel Fuse (NASDAQ:BELFA) last posted its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.44. The firm had revenue of $149.86 million for the quarter, compared to the consensus estimate of $126.41 million. Bel Fuse had a return on equity of 18.61% and a net margin of 7.66%.

Bel Fuse Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.24 annualized dividend and a yield of 0.38%. Bel Fuse’s dividend payout ratio is currently 7.77%.

Hedge Funds Weigh In On Bel Fuse

Several large investors have recently bought and sold shares of BELFA. Wells Fargo & Company MN lifted its stake in Bel Fuse by 26.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,079 shares of the scientific and technical instruments company’s stock valued at $97,000 after buying an additional 223 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Bel Fuse by 129.2% in the 3rd quarter. MetLife Investment Management LLC now owns 1,098 shares of the scientific and technical instruments company’s stock valued at $109,000 after acquiring an additional 619 shares in the last quarter. Bank of America Corp DE raised its holdings in Bel Fuse by 41.8% during the fourth quarter. Bank of America Corp DE now owns 1,648 shares of the scientific and technical instruments company’s stock worth $148,000 after acquiring an additional 486 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Bel Fuse by 632.5% during the third quarter. BNP Paribas Financial Markets now owns 2,073 shares of the scientific and technical instruments company’s stock valued at $206,000 after purchasing an additional 1,790 shares during the last quarter. Finally, Barclays PLC grew its stake in Bel Fuse by 278.9% in the third quarter. Barclays PLC now owns 2,311 shares of the scientific and technical instruments company’s stock valued at $230,000 after purchasing an additional 1,701 shares in the last quarter. 6.01% of the stock is currently owned by institutional investors and hedge funds.

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.