Bel Fuse (NASDAQ:BELFB) Upgraded to Outperform at Northland Securities

Northland Securities upgraded shares of Bel Fuse (NASDAQ:BELFB) from a market perform rating to an outperform rating in a research note published on Thursday morning, Marketbeat reports. They currently have $80.00 price objective on the electronics maker’s stock.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC boosted their price objective on Bel Fuse from $68.00 to $79.00 and gave the stock a buy rating in a research note on Friday, July 26th. StockNews.com raised shares of Bel Fuse from a hold rating to a buy rating in a research note on Thursday, August 1st.

Bel Fuse Trading Down 2.9 %

Shares of NASDAQ:BELFB opened at $63.32 on Thursday. The business’s 50 day moving average price is $66.42 and its 200-day moving average price is $62.91. Bel Fuse has a 1 year low of $39.13 and a 1 year high of $76.09. The firm has a market capitalization of $799.10 million, a price-to-earnings ratio of 10.66 and a beta of 1.34. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.19 and a quick ratio of 2.76.

Bel Fuse (NASDAQ:BELFB) last posted its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.58. The business had revenue of $133.21 million for the quarter, compared to the consensus estimate of $130.27 million. Bel Fuse had a net margin of 11.81% and a return on equity of 20.97%. During the same period last year, the firm posted $1.95 earnings per share. On average, equities research analysts forecast that Bel Fuse will post 4.52 earnings per share for the current fiscal year.

Bel Fuse Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be given a dividend of $0.07 per share. The ex-dividend date is Tuesday, October 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.44%. Bel Fuse’s payout ratio is 4.71%.

Hedge Funds Weigh In On Bel Fuse

A number of institutional investors have recently bought and sold shares of the company. Beach Investment Counsel Inc. PA acquired a new stake in shares of Bel Fuse during the 2nd quarter worth about $25,000. Isthmus Partners LLC purchased a new position in Bel Fuse during the second quarter worth about $39,000. Comerica Bank boosted its stake in Bel Fuse by 223.7% during the first quarter. Comerica Bank now owns 738 shares of the electronics maker’s stock worth $45,000 after buying an additional 510 shares during the period. New York State Teachers Retirement System increased its position in shares of Bel Fuse by 373.5% during the first quarter. New York State Teachers Retirement System now owns 947 shares of the electronics maker’s stock valued at $57,000 after acquiring an additional 747 shares during the last quarter. Finally, National Bank of Canada FI purchased a new stake in shares of Bel Fuse in the 4th quarter valued at approximately $78,000. 58.39% of the stock is owned by hedge funds and other institutional investors.

Bel Fuse Company Profile

Bel Fuse Inc designs, manufactures, markets, and sells products that are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries in the United States, the People's Republic of China, Macao, the United Kingdom, Slovakia, Germany, India, Switzerland, and internationally.