Bel Fuse (NASDAQ:BELFB) Rating Lowered to “Strong Sell” at Zacks Research

Bel Fuse (NASDAQ:BELFB) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday, Zacks reports.

Several other research firms also recently commented on BELFB. JPMorgan Chase & Co. upped their price target on shares of Bel Fuse from $370.00 to $380.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Bank of America assumed coverage on shares of Bel Fuse in a research report on Tuesday, July 14th. They set a “buy” rating and a $330.00 price objective on the stock. Weiss Ratings lowered shares of Bel Fuse from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. Citigroup initiated coverage on shares of Bel Fuse in a report on Monday, July 13th. They issued a “buy” rating for the company. Finally, Northland Securities set a $326.00 target price on shares of Bel Fuse in a research note on Friday, July 31st. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Bel Fuse currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.00.

Bel Fuse Price Performance

NASDAQ BELFB opened at $245.48 on Monday. Bel Fuse has a 1 year low of $129.94 and a 1 year high of $335.29. The company has a market capitalization of $3.54 billion, a PE ratio of 59.29, a P/E/G ratio of 2.67 and a beta of 1.71. The company has a fifty day moving average of $260.19 and a two-hundred day moving average of $260.12.

Insider Buying and Selling at Bel Fuse

In other news, Director Peter E. Gilbert sold 500 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $292.12, for a total transaction of $146,060.00. Following the transaction, the director directly owned 750 shares in the company, valued at $219,090. The trade was a 40.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Vincent Vellucci sold 1,000 shares of the business’s stock in a transaction dated 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 approximately $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 a total of 1,893 shares of company stock valued at $476,949 in the last 90 days. Company insiders own 5.37% of the company’s stock.

Institutional Investors Weigh In On Bel Fuse

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its stake in shares of Bel Fuse by 20.2% in the first quarter. PNC Financial Services Group Inc. now owns 286 shares of the electronics maker’s stock valued at $57,000 after buying an additional 48 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Bel Fuse by 1.1% in the first quarter. The Manufacturers Life Insurance Company now owns 4,782 shares of the electronics maker’s stock worth $947,000 after acquiring an additional 50 shares in the last quarter. Bank of America Corp DE raised its position in Bel Fuse by 0.9% in the first quarter. Bank of America Corp DE now owns 10,348 shares of the electronics maker’s stock worth $2,049,000 after acquiring an additional 89 shares in the last quarter. Strs Ohio raised its position in Bel Fuse by 5.6% in the first quarter. Strs Ohio now owns 1,900 shares of the electronics maker’s stock worth $376,000 after acquiring an additional 100 shares in the last quarter. Finally, State of Wyoming acquired a new stake in Bel Fuse in the first quarter valued at $30,000. Hedge funds and other institutional investors own 58.39% of the company’s stock.

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.