Renaissance Technologies LLC Raises Position in Bel Fuse Inc. $BELFA

Renaissance Technologies LLC lifted its stake in Bel Fuse Inc. (NASDAQ:BELFA) by 62.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 68,253 shares of the scientific and technical instruments company’s stock after buying an additional 26,200 shares during the period. Renaissance Technologies LLC’s holdings in Bel Fuse were worth $12,299,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Hound Partners LLC purchased a new position in shares of Bel Fuse in the fourth quarter valued at about $5,714,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Bel Fuse during the third quarter valued at approximately $1,628,000. Citadel Advisors LLC raised its stake in Bel Fuse by 434.9% during the third quarter. Citadel Advisors LLC now owns 13,336 shares of the scientific and technical instruments company’s stock valued at $1,552,000 after buying an additional 10,843 shares during the last quarter. Millennium Management LLC raised its position in shares of Bel Fuse by 314.2% in the 4th quarter. Millennium Management LLC now owns 12,729 shares of the scientific and technical instruments company’s stock worth $1,932,000 after purchasing an additional 9,656 shares during the last quarter. Finally, Nitor Capital Management LLC purchased a new position in Bel Fuse in the fourth quarter worth about $1,063,000. 6.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BELFA. Citigroup initiated coverage on Bel Fuse in a research note on Monday, July 13th. They issued a “buy” rating for the company. Weiss Ratings lowered Bel Fuse from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $250.00.

Bel Fuse Stock Performance

BELFA opened at $223.13 on Friday. The firm has a market cap of $2.84 billion, a P/E ratio of 57.07 and a beta of 1.37. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.48 and a quick ratio of 1.73. The company has a 50 day simple moving average of $243.57 and a two-hundred day simple moving average of $221.29. Bel Fuse Inc. has a 1-year low of $107.51 and a 1-year high of $293.51.

Bel Fuse (NASDAQ:BELFA) last issued its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.42. The business had revenue of $210.69 million during the quarter, compared to analyst estimates of $206.39 million. Bel Fuse had a return on equity of 20.55% and a net margin of 7.21%.

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.