Bel Fuse (NASDAQ:BELFB) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Bel Fuse (NASDAQ:BELFB) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday,Zacks reports.

A number of other analysts have also recently weighed in on BELFB. Northland Securities set a $326.00 price objective on Bel Fuse in a research report on Friday, July 31st. Citigroup initiated coverage on Bel Fuse in a research report on Monday, July 13th. They set a “buy” rating on the stock. 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. JPMorgan Chase & Co. decreased their price target on Bel Fuse from $380.00 to $330.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Wall Street Zen raised Bel Fuse from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $315.67.

Bel Fuse Trading Down 2.0%

NASDAQ BELFB opened at $219.07 on Wednesday. The firm’s fifty day simple moving average is $252.86 and its two-hundred day simple moving average is $263.11. Bel Fuse has a 12-month low of $129.94 and a 12-month high of $335.29. The firm has a market capitalization of $3.16 billion, a P/E ratio of 52.92, a P/E/G ratio of 2.40 and a beta of 1.67.

Bel Fuse Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.1%. Bel Fuse’s dividend payout ratio (DPR) is currently 6.76%.

Insider Buying and Selling at Bel Fuse

In related news, Director Peter E. Gilbert sold 500 shares of the company’s stock in a transaction 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 transaction, the director directly owned 750 shares of the company’s stock, valued at $219,090. This represents a 40.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vincent Vellucci sold 1,000 shares of the company’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 transaction, the director directly owned 7,434 shares in the company, valued at approximately $1,748,105.10. The trade was a 11.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,893 shares of company stock valued at $476,949 over the last quarter. Insiders own 5.37% of the company’s stock.

Institutional Trading of Bel Fuse

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BELFB. Wasatch Advisors LP grew its stake in Bel Fuse by 2.2% during the 2nd quarter. Wasatch Advisors LP now owns 489,414 shares of the electronics maker’s stock valued at $162,994,000 after purchasing an additional 10,705 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Bel Fuse by 22.7% in the first quarter. Janus Henderson Group PLC now owns 760,141 shares of the electronics maker’s stock worth $150,587,000 after purchasing an additional 140,804 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Bel Fuse by 49.4% in the second quarter. Tidal Investments LLC now owns 211,805 shares of the electronics maker’s stock worth $70,540,000 after purchasing an additional 70,014 shares during the last quarter. Tema ETFs LLC raised its stake in shares of Bel Fuse by 52.2% in the second quarter. Tema ETFs LLC now owns 202,849 shares of the electronics maker’s stock worth $67,557,000 after purchasing an additional 69,531 shares during the last quarter. Finally, Congress Asset Management Co. acquired a new stake in shares of Bel Fuse during the third quarter worth about $63,101,000. Institutional investors and hedge funds own 58.39% of the company’s stock.

About Bel Fuse

Bel Fuse Inc (NASDAQ: BELFB) designs, manufactures and sells products that protect, connect and manage electrical power in electronic systems. Its offerings include circuit protection devices, power supplies and power-management products, magnetic components, interconnect solutions, cable assemblies, discrete components and integrated modules.

The company’s products are used in a range of markets, including networking and telecommunications, computing, consumer electronics, industrial equipment, automotive applications, medical systems, transportation, and aerospace and defense.