Bel Fuse (NASDAQ:BELFA) Announces Quarterly Earnings Results

Bel Fuse (NASDAQ:BELFA) announced its quarterly earnings data on Wednesday. The scientific and technical instruments company reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.42, FiscalAI reports. The company had revenue of $210.69 million during the quarter, compared to analysts’ expectations of $206.39 million. Bel Fuse had a net margin of 7.84% and a return on equity of 22.38%.

Bel Fuse Price Performance

Shares of BELFA traded down $7.51 during trading hours on Wednesday, hitting $202.44. The stock had a trading volume of 190,980 shares, compared to its average volume of 106,024. The company’s fifty day moving average is $245.26 and its two-hundred day moving average is $220.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.18 and a quick ratio of 1.73. Bel Fuse has a 52 week low of $107.51 and a 52 week high of $293.51. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 48.78 and a beta of 1.37.

Hedge Funds Weigh In On Bel Fuse

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings in shares of Bel Fuse by 41.5% during the first quarter. Rhumbline Advisers now owns 2,613 shares of the scientific and technical instruments company’s stock worth $188,000 after buying an additional 767 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Bel Fuse by 447.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 744 shares of the scientific and technical instruments company’s stock worth $67,000 after acquiring an additional 608 shares in the last quarter. JPMorgan Chase & Co. grew its position in Bel Fuse by 6.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,351 shares of the scientific and technical instruments company’s stock worth $274,000 after acquiring an additional 150 shares during the last quarter. Vanguard Group Inc. grew its position in Bel Fuse by 13.9% during the 3rd quarter. Vanguard Group Inc. now owns 52,614 shares of the scientific and technical instruments company’s stock worth $6,122,000 after acquiring an additional 6,408 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Bel Fuse by 92.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 319 shares of the scientific and technical instruments company’s stock valued at $37,000 after purchasing an additional 153 shares in the last quarter. 6.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BELFA shares. Weiss Ratings upgraded shares of Bel Fuse from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Citigroup began coverage on shares of Bel Fuse in a research note on Monday, July 13th. They set a “buy” rating for the company. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $250.00.

Bel Fuse Company Profile

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.