 | Your browser does not display parts of our website correctly. We use the latest technology available to provide you with a high quality experience; please upgrade your browser to its latest version to view the contents properly: |
Belden (BDC) designs, manufactures, and markets cable, connectivity, and networking products in various markets, including industrial, enterprise, enterprise, broadcast, and consumer electronics. Its products provide the transmission of signals for data, sound, and video applications. The companys cable products include copper cables comprising shielded and unshielded twisted pair cables, coaxial cables, and stranded cables; fiber optic cables that transmit light signals through glass or plastic fibers; and composite cables, which are combinations of multi conductor, coaxial, and fiber optic cables jacketed together or otherwise joined together to serve complex applications and provide ease of installation.
Its cable products are used in discrete manufacturing and process operations involving the connection of computers, programmable controllers, robots, operator interfaces, motor drives, sensors, printers, and other devices. The companys connectivity products include fiber and copper connectors for the enterprise, broadcast, and industrial markets, as well as end-to-end structured cabling solutions.
Its networking products comprise industrial Ethernet switches and related equipment, fiber optic interfaces, and media converters used to bridge fieldbus networks over long distances; and load-moment indicators for mobile cranes and other load-bearing equipment. In addition, the company designs, manufactures, and markets various industrial connectors for sensors and actuators, cord-sets, distribution boxes, and fieldbus communications. These products are used as components of manufacturing equipment and in the installation and networking of such equipment.
The firm reported its quarterly results on August 9th. The results were much better than expected. The report has propelled shares into a bullish "flag" formation. On Aug 13, the firm sold $770M of debt offering, pushing the shares into consolidation phase of the flag formation. We are now hearing rumors of good news for this stock.
One of the rumors states that this stock will be named by the leading stock advisory service as one of its "top picks." This service is widely followed by mutual funds and institutional money managers. These investors have portfolios that mimic recommendations of this service. Their naming of the stock should lead to additional demand for the shares. Note that its average daily trading volume is 265K. Naming of the stock by this service, is expected to create added demand for the shares which should push the shares higher out of this bullish formation. Be sure to use a limit order and not a market order.
Stock's 52-week trading range: $23.24 - $41.43.
Shares last traded at: $34.42
Stop Loss: $32.69
Target Price: $37.86
