JPMorgan Chase & Co. Issues Positive Forecast for Bel Fuse (NASDAQ:BELFB) Stock Price

Bel Fuse (NASDAQ:BELFB) had its target price raised by equities research analysts at JPMorgan Chase & Co. from $330.00 to $360.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the electronics maker’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 52.45% from the stock’s current price.

A number of other research firms have also recently weighed in on BELFB. Citigroup started coverage on shares of Bel Fuse in a report on Monday, July 13th. 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 report on Saturday, August 8th. Weiss Ratings raised shares of Bel Fuse from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, October 13th. B. Riley Financial started coverage on Bel Fuse in a research note on Tuesday, July 14th. They issued a “buy” rating on the stock. Finally, Zacks Research upgraded Bel Fuse from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 14th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $320.67.

Bel Fuse Price Performance

Shares of BELFB traded up $0.42 during mid-day trading on Friday, hitting $236.15. 287,900 shares of the company’s stock were exchanged, compared to its average volume of 219,052. Bel Fuse has a 52 week low of $133.71 and a 52 week high of $335.29. The company has a 50-day simple moving average of $239.54 and a 200 day simple moving average of $247.49. The company has a market cap of $3.41 billion, a PE ratio of 56.23, a P/E/G ratio of 2.46 and a beta of 1.67.

Bel Fuse (NASDAQ:BELFB) last announced its earnings results on Wednesday, October 28th. The electronics maker reported $1.83 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.89). Bel Fuse had a return on equity of 9.76% and a net margin of 7.34%. The company had revenue of $220.51 million for the quarter, compared to the consensus estimate of $215.74 million. On average, analysts anticipate that Bel Fuse will post 6.89 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Peter E. Gilbert sold 500 shares of Bel Fuse stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $292.12, for a total transaction of $146,060.00. Following the completion of the transaction, the director 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Vincent Vellucci sold 1,000 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $235.15, for a total value of $235,150.00. Following the completion of the sale, the director directly owned 7,434 shares in the company, valued at approximately $1,748,105.10. This represents a 11.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,893 shares of company stock worth $476,949 over the last quarter. 5.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BELFB. State of Wyoming acquired a new position in shares of Bel Fuse during the 1st quarter worth approximately $30,000. KBC Group NV purchased a new stake in shares of Bel Fuse in the first quarter valued at $38,000. Signature Equity Partners LLC acquired a new stake in shares of Bel Fuse in the first quarter worth $39,000. PNC Financial Services Group Inc. grew its holdings in Bel Fuse by 20.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 286 shares of the electronics maker’s stock valued at $57,000 after purchasing an additional 48 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of Bel Fuse by 243.7% in the 3rd quarter. Signaturefd LLC now owns 299 shares of the electronics maker’s stock worth $73,000 after purchasing an additional 212 shares during the last quarter. 58.39% of the stock is currently owned by hedge funds and other institutional investors.

Bel Fuse Company Profile

Bel Fuse Inc is a designer, manufacturer and supplier of products that power, protect and connect electronic circuits. The company’s portfolio includes circuit protection devices, magnetic components, interconnect products, power supplies, power conversion solutions and discrete components used in electronic equipment and systems.

Bel Fuse serves customers in industries including telecommunications, networking, computing, industrial equipment, consumer electronics, automotive, medical technology, aerospace and defense.