Bel Fuse (NASDAQ:BELFB) Upgraded to Strong-Buy at Northland Capmk

Northland Capmk upgraded shares of Bel Fuse (NASDAQ:BELFB) from a hold rating to a strong-buy rating in a report published on Thursday, Zacks.com reports.

BELFB has been the subject of a number of other reports. Northland Securities raised Bel Fuse from a market perform rating to an outperform rating and set a $80.00 target price for the company in a research report on Thursday. StockNews.com upgraded shares of Bel Fuse from a hold rating to a buy rating in a report on Thursday, August 1st. Finally, Needham & Company LLC increased their price objective on shares of Bel Fuse from $68.00 to $79.00 and gave the company a buy rating in a research note on Friday, July 26th.

Bel Fuse Price Performance

BELFB stock opened at $63.32 on Thursday. The stock has a market cap of $799.10 million, a PE ratio of 10.66 and a beta of 1.34. Bel Fuse has a 12 month low of $39.13 and a 12 month high of $76.09. The company has a 50-day moving average price of $66.42 and a 200 day moving average price of $62.85. The company has a current ratio of 4.19, a quick ratio of 2.76 and a debt-to-equity ratio of 0.17.

Bel Fuse (NASDAQ:BELFB) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.58. The firm had revenue of $133.21 million during the quarter, compared to analyst estimates of $130.27 million. Bel Fuse had a return on equity of 20.97% and a net margin of 11.81%. During the same period last year, the company earned $1.95 EPS. Equities research analysts anticipate that Bel Fuse will post 4.52 earnings per share for the current year.

Bel Fuse Announces Dividend

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

Hedge Funds Weigh In On Bel Fuse

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

About Bel Fuse

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.