Bel Fuse (NASDAQ:BELFA) Shares Gap Down - What's Next?

Bel Fuse Inc. (NASDAQ:BELFA - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $66.40, but opened at $59.91. Bel Fuse shares last traded at $63.44, with a volume of 1,185 shares trading hands.

Analyst Ratings Changes

Separately, Craig Hallum set a $115.00 price objective on shares of Bel Fuse and gave the company a "buy" rating in a report on Tuesday, March 25th.

Bel Fuse Stock Performance

The company has a quick ratio of 1.66, a current ratio of 2.92 and a debt-to-equity ratio of 0.80. The business has a 50 day moving average price of $72.21 and a two-hundred day moving average price of $85.88. The stock has a market cap of $812.53 million, a P/E ratio of 20.97 and a beta of 0.99.

Bel Fuse (NASDAQ:BELFA - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.28 EPS for the quarter, topping the consensus estimate of $0.99 by $0.29. The business had revenue of $152.24 million for the quarter, compared to analysts' expectations of $148.60 million. Bel Fuse had a net margin of 7.66% and a return on equity of 18.61%.

Bel Fuse Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 15th will be issued a dividend of $0.06 per share. The ex-dividend date is Tuesday, July 15th. This represents a $0.24 annualized dividend and a yield of 0.37%. Bel Fuse's payout ratio is 7.36%.

Hedge Funds Weigh In On Bel Fuse

A number of institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in Bel Fuse by 67.6% during the 4th quarter. JPMorgan Chase & Co. now owns 113,291 shares of the scientific and technical instruments company's stock worth $10,205,000 after acquiring an additional 45,710 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Bel Fuse by 3.1% during the fourth quarter. Renaissance Technologies LLC now owns 43,253 shares of the scientific and technical instruments company's stock valued at $3,896,000 after purchasing an additional 1,300 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Bel Fuse by 9.4% during the fourth quarter. Geode Capital Management LLC now owns 36,861 shares of the scientific and technical instruments company's stock valued at $3,321,000 after purchasing an additional 3,167 shares in the last quarter. American Century Companies Inc. increased its holdings in Bel Fuse by 58.1% during the fourth quarter. American Century Companies Inc. now owns 30,019 shares of the scientific and technical instruments company's stock valued at $2,704,000 after buying an additional 11,031 shares during the period. Finally, State Street Corp raised its stake in Bel Fuse by 12.9% in the third quarter. State Street Corp now owns 25,125 shares of the scientific and technical instruments company's stock worth $2,498,000 after buying an additional 2,876 shares in the last quarter. 6.01% of the stock is owned by hedge funds and other institutional investors.

Bel Fuse Company Profile

Bel Fuse Inc designs, manufactures, markets, and sells products that power, protect, and connect electronic circuits. The company's products are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries.