Bel Fuse (NASDAQ:BELFA) Reaches New 52-Week High Following Better-Than-Expected Earnings

Bel Fuse Inc. (NASDAQ:BELFA)’s stock price hit a new 52-week high on Wednesday following a stronger than expected earnings report. The company traded as high as $227.42 and last traded at $222.2690, with a volume of 5134 shares traded. The stock had previously closed at $216.04.

The scientific and technical instruments company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.78. Bel Fuse had a return on equity of 21.78% and a net margin of 9.11%.The business had revenue of $175.94 million for the quarter, compared to analysts’ expectations of $172.01 million.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BELFA. Robert W. Baird set a $250.00 price objective on Bel Fuse in a research report on Thursday. Weiss Ratings upgraded shares of Bel Fuse from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat.com, Bel Fuse has an average rating of “Buy” and a consensus price target of $182.50.

Hedge Funds Weigh In On Bel Fuse

Several hedge funds have recently added to or reduced their stakes in the stock. Gabelli Funds LLC lifted its position in shares of Bel Fuse by 0.3% during the 2nd quarter. Gabelli Funds LLC now owns 67,400 shares of the scientific and technical instruments company’s stock worth $6,056,000 after buying an additional 200 shares during the last quarter. Vanguard Group Inc. raised its stake 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 in the last quarter. Hound Partners LLC acquired a new stake in Bel Fuse during the 4th quarter worth $5,714,000. Geode Capital Management LLC lifted its position in Bel Fuse by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 37,606 shares of the scientific and technical instruments company’s stock valued at $5,709,000 after acquiring an additional 2,674 shares during the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV boosted its stake in Bel Fuse by 0.4% in the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 26,151 shares of the scientific and technical instruments company’s stock valued at $3,043,000 after acquiring an additional 100 shares in the last quarter. 6.01% of the stock is currently owned by hedge funds and other institutional investors.

Bel Fuse Stock Performance

The firm has a fifty day simple moving average of $178.41 and a 200-day simple moving average of $142.82. The company has a market cap of $2.72 billion, a PE ratio of 46.16 and a beta of 1.23. The company has a quick ratio of 1.75, a current ratio of 3.02 and a debt-to-equity ratio of 0.46.

About Bel Fuse

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.