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Bel Fuse Stock Became Cheaper And More Attractive

Sep. 20, 2023 4:27 PM ETBel Fuse Inc. (BELFA), BELFB12 Comments


  • Bel Fuse Inc. is a small-cap company that designs, manufactures, and markets products used in various industries.
  • In Q2 FY2023, Bel Fuse reported a slight dip in sales but saw a significant boost in gross margin.
  • The company's backlog remains strong, but there are doubts about the conversion of backlog into actual sales.
  • In my opinion, the company now is even more undervalued and attractive for long-term investors.
  • I reiterate my previously given Buy rating on Bel Fuse stock and expect a gradual widening of the multiple amid rising margins and renewed operational growth.
  • Looking for more investing ideas like this one? Get them exclusively at Beyond the Wall Investing. Learn More »
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The Company

Bel Fuse Inc. (NASDAQ:BELFB) (NASDAQ:BELFA) is a $580 million market capitalization company that designs, manufactures, and markets a wide range of products used in various industries, including networking, telecommunications, computing, industrial, data transmission, military, aerospace, transportation, eMobility, automotive, medical, broadcasting, and consumer electronics. [Source: latest

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This article was written by

Danil Sereda profile picture
Daniel Sereda is chief investment analyst at a family office whose investments span continents and diverse asset classes. This requires him to navigate through a plethora of information on a daily basis. His expertise is in filtering this wealth of data to extract the most critical ideas. He runs the investing group Beyond the Wall Investing in which he provides access to the same information that institutional market participants prioritize in their analysis. Learn more.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in BELFB over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (12)

At this low valuation, may be swallowed up by a bigger player or private equity.
Rolf Stumpf profile picture
Thank you for your analysis. I, too, believe in the upside potential and have allocated almost 4% in BELFB. Another small cap worth looking at is Limbach.
Danil Sereda profile picture
@Rolf Stumpf thanks for reading! Take a look at my LMB article if you haven’t already. I’m also bullish on that one
Rolf Stumpf profile picture
@Danil Sereda Infact, I did comment on it and have added more in July when it was still below $25. Now 3,2% of my portfolio.
TheMoatGoat profile picture
"[...] then the resulting enterprise value of $888 million should give us a market cap of $870.2 (net of net debt) - that's 48.7% lower than Bel Fuse's market cap as of today."

I think there's a typo here, where you mean "48.7% higher", not lower.

Good article, I have a small position in Belfb, and I might add.
Danil Sereda profile picture
@TheMoatGoat that’s correct- thanks for noticing that typo! My apologies
Damon Judd profile picture
I have a small position in this stock (BELFB) and believe that it has a lot of upside potential ahead. Thanks for covering.
Thank you for reporting on this stock.

Stock had quite a run up. But it seems they’ve problems delivering product?

If a company is Nvida, product delays will be acceptable.
But I’m not sure about getting in now. It’s definitely a watch.
ndardick profile picture
Another excellent candidate for your small cap fund.
And yet, I tend to feel compelled to "go big or go home" and stick with the mega cap stock choices when were on the precipice of a recession of unknown timing, duration and severity. However, I do enjoy you regularly introducing us to new ideas that you present in a clear, concise and cogent manner.
Danil Sereda profile picture
@ndardick thank you for reading my articles and leaving comments like this - I appreciate it!
I retreated to big and bigger.
Felt safer.
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