Bel Fuse (NASDAQ:BELFB) Upgraded to "Strong-Buy" at Northland Capmk

Northland Capmk upgraded shares of Bel Fuse (NASDAQ:BELFB - Free Report) from a hold rating to a strong-buy rating in a report released on Thursday morning, Zacks.com reports.

BELFB has been the subject of several other reports. StockNews.com upgraded Bel Fuse from a hold rating to a buy rating in a research note on Thursday, August 1st. Needham & Company LLC raised their price objective on Bel Fuse from $68.00 to $79.00 and gave the stock a buy rating in a research note on Friday, July 26th. Finally, Northland Securities upgraded shares of Bel Fuse from a market perform rating to an outperform rating and set a $80.00 target price on the stock in a research note on Thursday.

Bel Fuse Stock Down 2.9 %

BELFB stock traded down $1.89 on Thursday, reaching $63.32. 35,948 shares of the company traded hands, compared to its average volume of 97,008. The firm has a fifty day simple moving average of $66.45 and a 200-day simple moving average of $62.98. The company has a market cap of $799.10 million, a P/E ratio of 10.67 and a beta of 1.41. Bel Fuse has a one year low of $39.13 and a one year high of $76.09. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.19 and a quick ratio of 2.76.

Bel Fuse (NASDAQ:BELFB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.58. The company had revenue of $133.21 million for the quarter, compared to analysts' expectations of $130.27 million. Bel Fuse had a net margin of 11.81% and a return on equity of 20.97%. During the same quarter in the previous year, the business posted $1.95 EPS. Research analysts anticipate that Bel Fuse will post 4.52 earnings per share for the current year.

Bel Fuse Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Tuesday, October 15th. Bel Fuse's dividend payout ratio is currently 4.71%.

Institutional Investors Weigh In On Bel Fuse

Several institutional investors have recently added to or reduced their stakes in BELFB. Quadrature Capital Ltd purchased a new position in shares of Bel Fuse in the fourth quarter worth about $1,061,000. Russell Investments Group Ltd. acquired a new stake in shares of Bel Fuse in the first quarter worth $1,532,000. Hussman Strategic Advisors Inc. purchased a new position in shares of Bel Fuse during the first quarter worth $760,000. Charles Schwab Investment Management Inc. lifted its position in Bel Fuse by 26.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 99,716 shares of the electronics maker's stock valued at $6,658,000 after purchasing an additional 21,047 shares during the period. Finally, Truvestments Capital LLC purchased a new stake in Bel Fuse in the first quarter valued at $407,000. Institutional investors and hedge funds own 58.39% of the company's stock.

About Bel Fuse

Bel Fuse Inc designs, manufactures, markets, and sells products that are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries in the United States, the People's Republic of China, Macao, the United Kingdom, Slovakia, Germany, India, Switzerland, and internationally.