Cambridge Investment Research Advisors Inc. Purchases New Stake in Bel Fuse Inc. (NASDAQ:BELFB)

Posted by Defense World Staff on Oct 6th, 2023

Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Bel Fuse Inc. (NASDAQ:BELFB – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 17,403 shares of the electronics maker’s stock, valued at approximately $999,000. Cambridge Investment Research Advisors Inc. owned 0.14% of Bel Fuse at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BELFB. JPMorgan Chase & Co. boosted its holdings in Bel Fuse by 4,148.5% in the first quarter. JPMorgan Chase & Co. now owns 50,982 shares of the electronics maker’s stock valued at $1,916,000 after acquiring an additional 49,782 shares in the last quarter. Susquehanna International Group LLP grew its holdings in shares of Bel Fuse by 153.5% during the 1st quarter. Susquehanna International Group LLP now owns 127,386 shares of the electronics maker’s stock worth $4,787,000 after acquiring an additional 77,137 shares during the period. Jane Street Group LLC grew its holdings in shares of Bel Fuse by 374.1% during the 1st quarter. Jane Street Group LLC now owns 56,982 shares of the electronics maker’s stock worth $2,141,000 after acquiring an additional 44,964 shares during the period. State Street Corp grew its holdings in shares of Bel Fuse by 4.8% during the 1st quarter. State Street Corp now owns 43,896 shares of the electronics maker’s stock worth $1,650,000 after acquiring an additional 2,000 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Bel Fuse during the 1st quarter worth approximately $933,000. Hedge funds and other institutional investors own 56.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BELFB. StockNews.com began coverage on shares of Bel Fuse in a report on Thursday. They set a “buy” rating for the company. Needham & Company LLC raised their price target on Bel Fuse from $50.00 to $66.00 and gave the company a “buy” rating in a report on Friday, July 28th.

Read Our Latest Stock Analysis on Bel Fuse

Insiders Place Their Bets

In other Bel Fuse news, CEO Daniel Bernstein sold 14,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $52.00, for a total value of $728,000.00. Following the completion of the transaction, the chief executive officer now directly owns 22,759 shares in the company, valued at approximately $1,183,468. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Vincent Vellucci acquired 1,000 shares of Bel Fuse stock in a transaction on Friday, September 1st. The shares were acquired at an average price of $52.25 per share, with a total value of $52,250.00. Following the purchase, the director now directly owns 8,000 shares in the company, valued at approximately $418,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Daniel Bernstein sold 14,000 shares of Bel Fuse stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $52.00, for a total value of $728,000.00. Following the completion of the sale, the chief executive officer now directly owns 22,759 shares in the company, valued at approximately $1,183,468. The disclosure for this sale can be found here. 5.37% of the stock is currently owned by company insiders.

Bel Fuse Price Performance

Bel Fuse stock opened at $47.45 on Friday. The stock has a market cap of $606.41 million, a PE ratio of 8.18 and a beta of 1.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.55 and a current ratio of 2.79. Bel Fuse Inc. has a one year low of $25.79 and a one year high of $63.18. The stock has a fifty day moving average of $49.13 and a 200 day moving average of $47.70.

Bel Fuse (NASDAQ:BELFB – Get Free Report) last released its earnings results on Wednesday, July 26th. The electronics maker reported $1.95 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.99. The company had revenue of $168.78 million for the quarter, compared to the consensus estimate of $166.00 million. Bel Fuse had a return on equity of 28.00% and a net margin of 10.60%. As a group, sell-side analysts predict that Bel Fuse Inc. will post 5.56 EPS for the current year.

Bel Fuse Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, October 13th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $0.28 dividend on an annualized basis and a yield of 0.59%. Bel Fuse’s payout ratio is presently 4.83%.

About Bel Fuse

(Free Report)

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.