Key Points
- Director Peter Gilbert sold 500 Bel Fuse shares at an average price of $292.12, generating $146,060 and reducing his holdings by 40% to 750 shares.
- Bel Fuse shares opened at $290.08, with a market capitalization of $4.19 billion and a 52-week range of $124.42 to $335.29.
- Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $324; the company also declared a quarterly dividend of $0.07 per share.
Bel Fuse Inc. (NASDAQ:BELFB - Get Free Report) Director Peter Gilbert sold 500 shares of the firm's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $292.12, for a total value of $146,060.00. Following the completion of the transaction, the director owned 750 shares in the company, valued at approximately $219,090. This trade represents a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Bel Fuse Price Performance
NASDAQ BELFB opened at $290.08 on Friday. Bel Fuse Inc. has a 1-year low of $124.42 and a 1-year high of $335.29. The firm has a market capitalization of $4.19 billion, a P/E ratio of 70.07, a P/E/G ratio of 3.03 and a beta of 1.72. The business's 50-day simple moving average is $283.50 and its 200-day simple moving average is $253.03.
Bel Fuse Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.28 annualized dividend and a yield of 0.1%. Bel Fuse's dividend payout ratio (DPR) is 6.76%.
Institutional Trading of Bel Fuse
Several large investors have recently modified their holdings of BELFB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Bel Fuse by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,127 shares of the electronics maker's stock worth $459,000 after acquiring an additional 240 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Bel Fuse by 1.2% in the second quarter. JPMorgan Chase & Co. now owns 9,939 shares of the electronics maker's stock valued at $971,000 after purchasing an additional 116 shares during the last quarter. Rhumbline Advisers grew its stake in Bel Fuse by 2.5% during the 2nd quarter. Rhumbline Advisers now owns 15,972 shares of the electronics maker's stock valued at $1,560,000 after purchasing an additional 383 shares in the last quarter. Sei Investments Co. acquired a new stake in Bel Fuse during the 2nd quarter valued at approximately $312,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Bel Fuse by 9.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,953 shares of the electronics maker's stock worth $386,000 after purchasing an additional 337 shares during the last quarter. 58.39% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have commented on BELFB. Oppenheimer restated an "outperform" rating and set a $315.00 price objective on shares of Bel Fuse in a research note on Friday, May 1st. Northland Securities set a $326.00 target price on Bel Fuse in a research note on Friday, July 31st. Weiss Ratings lowered Bel Fuse from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, July 29th. Citigroup assumed coverage on Bel Fuse in a report on Monday, July 13th. They issued a "buy" rating for the company. Finally, Wall Street Zen upgraded shares of Bel Fuse from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $324.00.
Read Our Latest Analysis on BELFB
Bel Fuse Company Profile
(
Get Free Report)
Bel Fuse Inc is a global manufacturer of electronic components that bridge power, data and video applications. The company offers a comprehensive portfolio of products, including board-level circuit protection devices such as fuses, positive temperature coefficient (PTC) resistors and inductors; power transformers, modules and supplies; as well as connectivity solutions encompassing USB, HDMI, RJ45, coaxial and fiber-optic connectors. These products serve a wide array of end markets, including telecommunications, data communications, consumer electronics, industrial automation, automotive and renewable energy.
Founded in 1949 and headquartered in Oradell, New Jersey, Bel Fuse has grown through organic expansion and strategic acquisitions.
Further Reading
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