Bel Fuse (NASDAQ:BELFB) Cut to “Hold” at StockNews.com

14 Apr 2024, 04:22 by Teresa Graham · The Cerbat Gem

StockNews.com cut shares of Bel Fuse (NASDAQ:BELFB – Free Report) from a buy rating to a hold rating in a research report report published on Wednesday morning.

A number of other equities research analysts have also issued reports on BELFB. Needham & Company LLC dropped their price objective on shares of Bel Fuse from $77.00 to $70.00 and set a buy rating for the company in a report on Friday, February 23rd. Northland Securities started coverage on shares of Bel Fuse in a report on Thursday, January 11th. They issued an outperform rating and a $83.00 price objective for the company.

Get Our Latest Stock Analysis on Bel Fuse

Bel Fuse Price Performance

Shares of NASDAQ BELFB opened at $58.54 on Wednesday. The company has a quick ratio of 2.21, a current ratio of 3.45 and a debt-to-equity ratio of 0.18. Bel Fuse has a 52 week low of $30.11 and a 52 week high of $74.75. The firm has a 50-day simple moving average of $60.59 and a 200-day simple moving average of $57.95. The stock has a market capitalization of $746.97 million, a price-to-earnings ratio of 10.04 and a beta of 1.45.

Bel Fuse (NASDAQ:BELFB – Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The electronics maker reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.07). Bel Fuse had a net margin of 11.54% and a return on equity of 24.87%. The firm had revenue of $140.01 million during the quarter, compared to analysts’ expectations of $152.86 million. On average, equities analysts predict that Bel Fuse will post 4.7 earnings per share for the current fiscal year.

Bel Fuse Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Friday, April 12th. Bel Fuse’s dividend payout ratio (DPR) is presently 4.80%.

Insiders Place Their Bets

In other Bel Fuse news, Director Vincent Vellucci sold 1,000 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $56.70, for a total transaction of $56,700.00. Following the completion of the transaction, the director now owns 7,392 shares of the company’s stock, valued at $419,126.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.37% of the stock is currently owned by insiders.

Institutional Trading of Bel Fuse

Several hedge funds have recently made changes to their positions in the business. Quadrature Capital Ltd acquired a new stake in shares of Bel Fuse during the fourth quarter worth about $1,061,000. Vanguard Group Inc. lifted its position in shares of Bel Fuse by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 701,172 shares of the electronics maker’s stock worth $46,817,000 after purchasing an additional 24,449 shares in the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of Bel Fuse during the fourth quarter worth about $143,000. Virtus Investment Advisers Inc. acquired a new stake in shares of Bel Fuse during the fourth quarter worth about $461,000. Finally, Legal & General Group Plc raised its holdings in Bel Fuse by 2.3% in the fourth quarter. Legal & General Group Plc now owns 11,568 shares of the electronics maker’s stock valued at $772,000 after acquiring an additional 264 shares in the last quarter. Institutional investors and hedge funds own 58.39% of the company’s stock.

About Bel Fuse

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