Bel Fuse (NASDAQ:BELFA) Hits New 52-Week High – Time to Buy?

Bel Fuse Inc. (NASDAQ:BELFA) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $227.66 and last traded at $230.8090, with a volume of 2871 shares traded. The stock had previously closed at $217.20.

Wall Street Analyst Weigh In

BELFA has been the topic of several analyst reports. Weiss Ratings lowered Bel Fuse from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday, February 26th. Robert W. Baird set a $250.00 price objective on Bel Fuse in a research note on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $250.00.

Bel Fuse Stock Up 4.9%

The company has a quick ratio of 1.71, a current ratio of 3.02 and a debt-to-equity ratio of 0.46. The firm has a 50 day simple moving average of $201.78 and a 200-day simple moving average of $165.51. The stock has a market cap of $2.94 billion, a P/E ratio of 49.86 and a beta of 1.25.

Bel Fuse (NASDAQ:BELFA) last released its quarterly earnings data on Tuesday, February 17th. The scientific and technical instruments company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.78. The firm had revenue of $175.94 million for the quarter, compared to analyst estimates of $172.01 million. Bel Fuse had a return on equity of 21.78% and a net margin of 9.11%.

Bel Fuse Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th will be paid a $0.06 dividend. The ex-dividend date is Wednesday, April 15th. This represents a $0.24 annualized dividend and a yield of 0.1%. Bel Fuse’s dividend payout ratio is currently 5.16%.

Insider Activity at Bel Fuse

In other news, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $234.00, for a total value of $7,948,278.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Peter E. Gilbert sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $238.75, for a total value of $1,074,375.00. Following the completion of the transaction, the director directly owned 15,047 shares in the company, valued at $3,592,471.25. The trade was a 23.02% decrease in their position. The SEC filing for this sale provides additional information. 5.46% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bel Fuse

Institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Bel Fuse in the fourth quarter valued at approximately $444,000. FNY Investment Advisers LLC grew its position in shares of Bel Fuse by 186.7% in the third quarter. FNY Investment Advisers LLC now owns 1,637 shares of the scientific and technical instruments company’s stock valued at $190,000 after purchasing an additional 1,066 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its position in shares of Bel Fuse by 0.4% in the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 26,151 shares of the scientific and technical instruments company’s stock valued at $3,043,000 after purchasing an additional 100 shares during the last quarter. PenderFund Capital Management Ltd. acquired a new position in shares of Bel Fuse in the fourth quarter valued at approximately $243,000. Finally, Rhumbline Advisers grew its position in shares of Bel Fuse by 41.5% in the first quarter. Rhumbline Advisers now owns 2,613 shares of the scientific and technical instruments company’s stock valued at $188,000 after purchasing an additional 767 shares during the last quarter. Institutional investors and hedge funds own 6.01% of the company’s stock.

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.