Bel Fuse (NASDAQ:BELFB) Shares Gap Down – Here’s What Happened

Shares of Bel Fuse Inc. (NASDAQ:BELFB) gapped down before the market opened on Wednesday . The stock had previously closed at $298.22, but opened at $282.80. Bel Fuse shares last traded at $274.2670, with a volume of 40,357 shares.

Analyst Ratings Changes

BELFB has been the subject of several analyst reports. Weiss Ratings raised shares of Bel Fuse from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Wall Street Zen cut shares of Bel Fuse from a “buy” rating to a “hold” rating in a research report on Monday, March 16th. Needham & Company LLC lifted their price objective on shares of Bel Fuse from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Northland Securities set a $321.00 target price on Bel Fuse in a report on Monday, May 4th. Finally, Oppenheimer reissued an “outperform” rating and set a $315.00 target price on shares of Bel Fuse in a report on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $307.25.

Bel Fuse Stock 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 50-day simple moving average of $233.84 and a 200-day simple moving average of $201.73. The stock has a market cap of $3.42 billion, a P/E ratio of 61.21, a PEG ratio of 2.66 and a beta of 1.75.

Bel Fuse Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Wednesday, April 15th. Bel Fuse’s payout ratio is currently 6.38%.

Insider Transactions at Bel Fuse

In related news, Director Peter E. Gilbert sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $238.75, for a total value of $1,074,375.00. Following the sale, the director directly owned 15,047 shares in the company, valued at $3,592,471.25. This represents a 23.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $234.00, for a total value of $7,948,278.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.37% of the company’s stock.

Hedge Funds Weigh In On Bel Fuse

Several institutional investors have recently added to or reduced their stakes in BELFB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Bel Fuse by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,127 shares of the electronics maker’s stock valued at $459,000 after buying an additional 240 shares during the period. JPMorgan Chase & Co. raised its position in shares of Bel Fuse by 1.2% during the second quarter. JPMorgan Chase & Co. now owns 9,939 shares of the electronics maker’s stock worth $971,000 after purchasing an additional 116 shares during the period. Rhumbline Advisers grew its holdings in Bel Fuse by 2.5% during the second quarter. Rhumbline Advisers now owns 15,972 shares of the electronics maker’s stock worth $1,560,000 after buying an additional 383 shares in the last quarter. Sei Investments Co. bought a new stake in Bel Fuse during the second quarter worth $312,000. Finally, The Manufacturers Life Insurance Company grew its stake in Bel Fuse by 9.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,953 shares of the electronics maker’s stock valued at $386,000 after purchasing an additional 337 shares during the period. 58.39% of the stock is owned by institutional investors and hedge funds.

About Bel Fuse

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.