Bel Fuse (NASDAQ:BELFA) Shares Gap Up – What’s Next?

Bel Fuse Inc. (NASDAQ:BELFA)’s stock price gapped up before the market opened on Tuesday. The stock had previously closed at $166.51, but opened at $176.88. Bel Fuse shares last traded at $171.5740, with a volume of 8,773 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Citigroup began coverage on Bel Fuse in a research report on Monday, July 13th. They set a “buy” rating for the company. Weiss Ratings cut shares of Bel Fuse from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 26th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $250.00.

Bel Fuse Price Performance

The business has a 50-day moving average of $198.37 and a 200-day moving average of $215.29. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 44.34 and a beta of 1.37.

Bel Fuse (NASDAQ:BELFA) last released its quarterly earnings data on Wednesday, July 29th. The scientific and technical instruments company reported $2.76 EPS for the quarter, beating the consensus estimate of $2.34 by $0.42. Bel Fuse had a return on equity of 20.55% and a net margin of 7.21%. The company had revenue of $210.69 million during the quarter, compared to the consensus estimate of $206.39 million.

Insider Transactions at Bel Fuse

In other news, Director Vincent Vellucci sold 393 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $243.61, for a total value of $95,738.73. Following the sale, the director directly owned 8,434 shares of the company’s stock, valued at approximately $2,054,606.74. This represents a 4.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter E. Gilbert sold 500 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $292.12, for a total transaction of $146,060.00. Following the completion of the sale, the director owned 750 shares of the company’s stock, valued at $219,090. This trade represents a 40.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.75% of the company’s stock.

Hedge Funds Weigh In On Bel Fuse

A number of institutional investors have recently bought and sold shares of BELFA. Renaissance Technologies LLC raised its stake in 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 valued at $12,299,000 after buying an additional 26,200 shares during the period. State Street Corp lifted its position in shares of Bel Fuse by 55.4% in the second quarter. State Street Corp now owns 44,736 shares of the scientific and technical instruments company’s stock valued at $13,028,000 after buying an additional 15,946 shares during the last quarter. Sei Investments Co. lifted its position in shares of Bel Fuse by 110.2% in the first quarter. Sei Investments Co. now owns 9,681 shares of the scientific and technical instruments company’s stock valued at $1,745,000 after buying an additional 5,076 shares during the last quarter. Strs Ohio bought a new position in shares of Bel Fuse during the 1st quarter worth approximately $396,000. Finally, Abel Hall LLC bought a new position in shares of Bel Fuse during the 1st quarter worth approximately $205,000. Institutional investors and hedge funds own 6.01% of the company’s stock.

Bel Fuse Company Profile

Bel Fuse Inc designs, manufactures and markets products that support power management, circuit protection, connectivity and signal transmission. Its portfolio includes fuses and other circuit-protection devices, power supplies, DC-DC converters, magnetics, connectors, cable assemblies and discrete components used in electronic systems.

The company serves a range of markets, including networking and telecommunications, data centers, consumer electronics, automotive, medical, industrial, aerospace and defense applications.