Bel Fuse (NASDAQ:BELFA) Issues Earnings Results

Bel Fuse (NASDAQ:BELFA) issued its quarterly earnings results on Wednesday. The scientific and technical instruments company reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.42, FiscalAI reports. Bel Fuse had a return on equity of 22.38% and a net margin of 7.84%.The firm had revenue of $210.69 million during the quarter, compared to analyst estimates of $206.39 million.

Bel Fuse Stock Up 0.8%

BELFA stock traded up $1.68 during midday trading on Thursday, reaching $204.12. The company had a trading volume of 130,835 shares, compared to its average volume of 106,148. The company has a 50 day moving average of $244.68 and a two-hundred day moving average of $220.98. The company has a current ratio of 3.18, a quick ratio of 1.73 and a debt-to-equity ratio of 0.47. Bel Fuse has a 1 year low of $107.51 and a 1 year high of $293.51. The company has a market capitalization of $2.60 billion, a P/E ratio of 49.19 and a beta of 1.37.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers increased its position in Bel Fuse by 41.5% in the 1st quarter. Rhumbline Advisers now owns 2,613 shares of the scientific and technical instruments company’s stock worth $188,000 after purchasing an additional 767 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Bel Fuse by 447.1% in the second quarter. Tower Research Capital LLC TRC now owns 744 shares of the scientific and technical instruments company’s stock worth $67,000 after buying an additional 608 shares during the last quarter. JPMorgan Chase & Co. raised its position in Bel Fuse by 6.8% during the third quarter. JPMorgan Chase & Co. now owns 2,351 shares of the scientific and technical instruments company’s stock valued at $274,000 after acquiring an additional 150 shares in the last quarter. Vanguard Group Inc. lifted its stake in Bel Fuse by 13.9% in the third quarter. Vanguard Group Inc. now owns 52,614 shares of the scientific and technical instruments company’s stock valued at $6,122,000 after acquiring an additional 6,408 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in Bel Fuse by 92.2% in the third quarter. BNP Paribas Financial Markets now owns 319 shares of the scientific and technical instruments company’s stock worth $37,000 after acquiring an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 6.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on BELFA. Weiss Ratings upgraded shares of Bel Fuse from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Citigroup began coverage on shares of Bel Fuse in a report on Monday, July 13th. They set a “buy” rating for the company. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $250.00.

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.