Bel Fuse (NASDAQ:BELFB) Stock Bumped Down to Strong Sell by Zacks Research

Zacks Research cut shares of Bel Fuse (NASDAQ:BELFB) from a hold rating to a strong sell rating in a report published on Monday,Zacks reports.

BELFB has been the subject of a number of other reports. JPMorgan Chase & Co. increased their price target on shares of Bel Fuse from $370.00 to $380.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Weiss Ratings downgraded Bel Fuse from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. B. Riley Financial began coverage on Bel Fuse in a research report on Tuesday, July 14th. They issued a “buy” rating for the company. Wall Street Zen upgraded shares of Bel Fuse from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Citigroup started coverage on Bel Fuse in a research report on Monday, July 13th. They issued a “buy” rating on the stock. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $324.00.

Bel Fuse Stock Down 1.0%

Shares of BELFB stock opened at $245.48 on Monday. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 59.29, a PEG ratio of 2.67 and a beta of 1.71. The stock has a fifty day moving average of $260.19 and a 200 day moving average of $260.12. Bel Fuse has a 52 week low of $129.94 and a 52 week high of $335.29.

Bel Fuse Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.1%. Bel Fuse’s dividend payout ratio is presently 6.76%.

Insider Activity at Bel Fuse

In other Bel Fuse news, Director Peter E. Gilbert sold 500 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $292.12, for a total value of $146,060.00. Following the transaction, the director directly owned 750 shares in the company, valued at approximately $219,090. This trade represents a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vincent Vellucci sold 1,000 shares of Bel Fuse stock in a transaction on Monday, September 14th. The stock was sold at an average price of $235.15, for a total transaction of $235,150.00. Following the transaction, the director owned 7,434 shares in the company, valued at $1,748,105.10. This represents a 11.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,893 shares of company stock worth $476,949 in the last quarter. Company insiders own 5.37% of the company’s stock.

Hedge Funds Weigh In On Bel Fuse

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC bought a new position in shares of Bel Fuse during the 2nd quarter valued at approximately $205,000. Tidal Investments LLC raised its position in shares of Bel Fuse by 49.4% during the 2nd quarter. Tidal Investments LLC now owns 211,805 shares of the electronics maker’s stock valued at $70,540,000 after purchasing an additional 70,014 shares during the period. Arizona State Retirement System lifted its stake in shares of Bel Fuse by 14.7% during the 2nd quarter. Arizona State Retirement System now owns 3,322 shares of the electronics maker’s stock valued at $1,106,000 after buying an additional 426 shares in the last quarter. Nykredit A S bought a new position in Bel Fuse in the 2nd quarter worth $224,000. Finally, Corient Private Wealth LP bought a new position in Bel Fuse in the 2nd quarter worth $545,000. 58.39% of the stock is currently owned by hedge funds and other institutional investors.

About Bel Fuse

Bel Fuse Inc is a designer, manufacturer and supplier of products used to protect, power and connect electronic circuits. The company serves original equipment manufacturers, contract manufacturers and distributors across a range of industries, including telecommunications, networking, computing, consumer electronics, automotive, industrial, medical, aerospace and defense.

Bel Fuse’s product portfolio includes circuit protection devices, connectors, cable assemblies, discrete components, magnetics, power supplies, power conversion products and related modules.