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

Bel Fuse Inc. (NASDAQ:BELFB)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $311.67 and last traded at $304.3410, with a volume of 32023 shares trading hands. The stock had previously closed at $299.84.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Needham & Company LLC boosted their price target on Bel Fuse from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Weiss Ratings raised Bel Fuse from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Robert W. Baird set a $293.00 price target on Bel Fuse in a research note on Friday, May 1st. Oppenheimer reissued an “outperform” rating and issued a $315.00 price target on shares of Bel Fuse in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. initiated coverage on Bel Fuse in a research note on Wednesday, June 10th. They issued an “overweight” rating and a $370.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $319.80.

Bel Fuse Trading Down 0.5%

The firm has a fifty day simple moving average of $267.67 and a two-hundred day simple moving average of $222.65. The stock has a market cap of $3.80 billion, a PE ratio of 67.97, a PEG ratio of 2.88 and a beta of 1.70. The company has a current ratio of 3.18, a quick ratio of 1.73 and a debt-to-equity ratio of 0.47.

Bel Fuse Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be issued a dividend of $0.07 per share. This represents a $0.28 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 dividend payout ratio (DPR) is currently 6.38%.

Hedge Funds Weigh In On Bel Fuse

A number of large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its stake in Bel Fuse by 20.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 286 shares of the electronics maker’s stock worth $57,000 after purchasing an additional 48 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Bel Fuse by 1.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 4,782 shares of the electronics maker’s stock worth $947,000 after buying an additional 50 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Bel Fuse by 2.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 4,087 shares of the electronics maker’s stock worth $693,000 after buying an additional 79 shares during the last quarter. PFG Advisors grew its position in shares of Bel Fuse by 1.3% in the 4th quarter. PFG Advisors now owns 6,656 shares of the electronics maker’s stock worth $1,129,000 after buying an additional 84 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Bel Fuse by 0.9% in the 1st quarter. Bank of America Corp DE now owns 10,348 shares of the electronics maker’s stock worth $2,049,000 after buying an additional 89 shares during the last quarter. 58.39% of the stock is owned by hedge funds and other institutional investors.

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.