Bel Fuse (NASDAQ:BELFB) Shares Gap Down to $60.78

Bel Fuse Inc. (NASDAQ:BELFB) shares gapped down prior to trading on Friday . The stock had previously closed at $60.78, but opened at $58.61. Bel Fuse shares last traded at $60.70, with a volume of 58,880 shares.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BELFB shares. Northland Securities started coverage on Bel Fuse in a report on Thursday, January 11th. They issued an “outperform” rating and a $83.00 price objective for the company. StockNews.com cut Bel Fuse from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Finally, Needham & Company LLC cut their target price on Bel Fuse from $77.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd.

Bel Fuse Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 3.45 and a quick ratio of 2.21. The company has a market capitalization of $738.93 million, a PE ratio of 10.10 and a beta of 1.45. The firm has a 50-day moving average of $58.42 and a 200 day moving average of $58.55.

Bel Fuse (NASDAQ:BELFB) last posted its earnings results on Wednesday, February 21st. The electronics maker reported $1.37 earnings per share 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 the consensus estimate of $152.86 million. As a group, research analysts anticipate that Bel Fuse Inc. will post 4.7 earnings per share for the current fiscal year.

Bel Fuse Dividend Announcement

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

Insider Buying and Selling at Bel Fuse

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. New York State Teachers Retirement System raised its stake in shares of Bel Fuse by 373.5% in the first quarter. New York State Teachers Retirement System now owns 947 shares of the electronics maker’s stock worth $57,000 after buying an additional 747 shares during the period. Toronto Dominion Bank bought a new stake in Bel Fuse during the 3rd quarter valued at approximately $48,000. Covestor Ltd raised its stake in Bel Fuse by 26.5% during the 3rd quarter. Covestor Ltd now owns 1,012 shares of the electronics maker’s stock valued at $48,000 after purchasing an additional 212 shares during the period. AJOVista LLC bought a new stake in Bel Fuse during the 4th quarter valued at approximately $73,000. Finally, National Bank of Canada FI bought a new stake in Bel Fuse during the 4th quarter valued at approximately $78,000. Institutional investors own 58.39% of the company’s stock.

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.