Bel Fuse (NASDAQ:BELFA) Trading Up 6.7% – What’s Next?

Bel Fuse Inc. (NASDAQ:BELFA) rose 6.7% on Friday . The company traded as high as $232.16 and last traded at $223.69. Approximately 17,250 shares were traded during mid-day trading, a decline of 84% from the average session volume of 106,446 shares. The stock had previously closed at $209.72.

Analysts Set New Price Targets

A number of analysts recently issued reports on BELFA shares. Weiss Ratings cut Bel Fuse from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday. Citigroup began coverage on Bel Fuse in a research report on Monday, July 13th. They issued a “buy” rating on the stock. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $250.00.

Bel Fuse Price Performance

The company has a debt-to-equity ratio of 0.47, a current ratio of 3.18 and a quick ratio of 1.73. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 57.84 and a beta of 1.37. The stock’s 50 day simple moving average is $244.15 and its 200-day simple moving average is $221.27.

Bel Fuse (NASDAQ:BELFA) last announced its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.76 EPS for the quarter, topping the consensus estimate of $2.34 by $0.42. Bel Fuse had a net margin of 7.21% and a return on equity of 26.26%. The company had revenue of $210.69 million for the quarter, compared to analyst estimates of $206.39 million.

Hedge Funds Weigh In On Bel Fuse

Several hedge funds have recently bought and sold shares of BELFA. FNY Investment Advisers LLC raised its holdings in Bel Fuse by 16.9% during the second quarter. FNY Investment Advisers LLC now owns 1,239 shares of the scientific and technical instruments company’s stock valued at $360,000 after buying an additional 179 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Bel Fuse by 62.3% in the first quarter. Renaissance Technologies LLC now owns 68,253 shares of the scientific and technical instruments company’s stock worth $12,299,000 after buying an additional 26,200 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Bel Fuse by 110.2% during the 1st quarter. Sei Investments Co. now owns 9,681 shares of the scientific and technical instruments company’s stock worth $1,745,000 after acquiring an additional 5,076 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Bel Fuse by 6,000.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 305 shares of the scientific and technical instruments company’s stock worth $55,000 after acquiring an additional 300 shares in the last quarter. Finally, Abel Hall LLC acquired a new position in shares of Bel Fuse during the 1st quarter valued at about $205,000. 6.01% of the stock is owned by institutional investors and hedge funds.

Bel Fuse Company Profile

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.