Bel Fuse (NASDAQ:BELFB) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Bel Fuse Inc. (NASDAQ:BELFB) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $255.27 and traded as high as $265.97. Bel Fuse shares last traded at $255.46, with a volume of 144,258 shares.

Wall Street Analyst Weigh In

Several research analysts have commented on BELFB shares. Oppenheimer restated an “outperform” rating and issued a $315.00 target price on shares of Bel Fuse in a research note on Friday, May 1st. Northland Securities set a $326.00 price target on Bel Fuse in a research report on Friday, July 31st. Bank of America assumed coverage on shares of Bel Fuse in a report on Tuesday, July 14th. They issued a “buy” rating and a $330.00 price target on the stock. Citigroup assumed coverage on shares of Bel Fuse in a research report on Monday, July 13th. They issued a “buy” rating for the company. Finally, Zacks Research raised shares of Bel Fuse from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Bel Fuse has an average rating of “Moderate Buy” and an average target price of $324.00.

Bel Fuse Price Performance

The company has a 50 day moving average of $282.16 and a 200-day moving average of $255.27. The company has a market cap of $3.69 billion, a P/E ratio of 61.71, a price-to-earnings-growth ratio of 2.71 and a beta of 1.72.

Bel Fuse Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Thursday, October 15th. Bel Fuse’s dividend payout ratio (DPR) is 6.76%.

Insider Activity at Bel Fuse

In other news, Director Peter E. Gilbert sold 500 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $292.12, for a total transaction of $146,060.00. Following the completion of the transaction, the director owned 750 shares of the company’s stock, valued at approximately $219,090. The trade was a 40.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.37% of the company’s stock.

Institutional Investors Weigh In On Bel Fuse

Several hedge funds have recently bought and sold shares of BELFB. Farther Finance Advisors LLC increased its holdings in shares of Bel Fuse by 365.6% in the 4th quarter. Farther Finance Advisors LLC now owns 149 shares of the electronics maker’s stock worth $25,000 after buying an additional 117 shares during the last quarter. State of Wyoming bought a new stake in shares of Bel Fuse during the 1st quarter worth $30,000. Kemnay Advisory Services Inc. bought a new stake in shares of Bel Fuse during the 4th quarter worth $33,000. KBC Group NV purchased a new position in Bel Fuse in the first quarter worth $38,000. Finally, Signature Equity Partners LLC purchased a new position in Bel Fuse in the first quarter worth $39,000. 58.39% of the stock is currently owned by institutional investors.

Bel Fuse Company Profile

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.