Bel Fuse’s (BELFB) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Bel Fuse (NASDAQ:BELFB) in a research note issued to investors on Friday morning,Benzinga reports. They currently have a $300.00 target price on the electronics maker’s stock.

Other equities research analysts have also recently issued reports about the company. Bank of America started coverage on Bel Fuse in a research report on Tuesday, July 14th. They set a “buy” rating and a $330.00 target price on the stock. Zacks Research raised Bel Fuse from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 14th. Wall Street Zen upgraded Bel Fuse from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. dropped their price objective on Bel Fuse from $380.00 to $330.00 and set an “overweight” rating on the stock in a report on Tuesday, October 13th. Finally, Weiss Ratings upgraded Bel Fuse from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, October 13th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $320.67.

Bel Fuse Stock Performance

Shares of NASDAQ BELFB opened at $236.15 on Friday. The company’s fifty day moving average price is $239.02 and its 200 day moving average price is $247.74. Bel Fuse has a 1 year low of $133.71 and a 1 year high of $335.29. The company has a market capitalization of $3.41 billion, a PE ratio of 56.23, a price-to-earnings-growth ratio of 2.55 and a beta of 1.67.

Bel Fuse (NASDAQ:BELFB) last released its quarterly 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 net margin of 7.34% and a return on equity of 8.53%. The firm had revenue of $220.51 million for the quarter, compared to analyst estimates of $215.74 million. On average, equities analysts expect that Bel Fuse will post 6.89 EPS for the current year.

Insider Buying and Selling

In related news, Director Peter E. Gilbert sold 500 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $292.12, for a total value of $146,060.00. Following the completion of the sale, the director owned 750 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Vincent Vellucci sold 1,000 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was 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 of the company’s stock, valued at $1,748,105.10. This trade represents a 11.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,893 shares of company stock valued at $476,949 over the last 90 days. Company insiders own 5.37% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP increased its stake in Bel Fuse by 2.2% during the second quarter. Wasatch Advisors LP now owns 489,414 shares of the electronics maker’s stock worth $162,994,000 after acquiring an additional 10,705 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Bel Fuse by 22.7% in the 1st quarter. Janus Henderson Group PLC now owns 760,141 shares of the electronics maker’s stock valued at $150,587,000 after purchasing an additional 140,804 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Bel Fuse by 49.4% in 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 last quarter. Tema ETFs LLC lifted its stake in shares of Bel Fuse by 52.2% in the 2nd quarter. Tema ETFs LLC now owns 202,849 shares of the electronics maker’s stock valued at $67,557,000 after purchasing an additional 69,531 shares during the last quarter. Finally, Congress Asset Management Co. purchased a new position in shares of Bel Fuse during the 3rd quarter worth $63,101,000. 58.39% of the stock is currently owned by institutional investors and hedge funds.

About Bel Fuse

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.