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

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

A number of other equities research analysts also recently commented on the company. Weiss Ratings upgraded Bel Fuse from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Bank of America started coverage on Bel Fuse in a research note on Tuesday, July 14th. They set a “buy” rating and a $330.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on Bel Fuse from $380.00 to $330.00 and set an “overweight” rating on the stock in a report on Tuesday. Wall Street Zen raised Bel Fuse from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Citigroup began coverage on Bel Fuse in a research report on Monday, July 13th. They set a “buy” rating on the stock. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $315.67.

Bel Fuse Stock Performance

Bel Fuse stock opened at $219.07 on Wednesday. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 52.92, a price-to-earnings-growth ratio of 2.40 and a beta of 1.67. Bel Fuse has a 1 year low of $129.94 and a 1 year high of $335.29. The firm’s 50 day moving average price is $252.86 and its two-hundred day moving average price is $263.11.

Insider Buying and Selling at Bel Fuse

In other news, Director Peter E. Gilbert sold 500 shares of the 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 completion of the sale, the director owned 750 shares in the company, valued at $219,090. This 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 is available at this link. Also, Director Vincent Vellucci sold 1,000 shares of the 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 owned 7,434 shares of the company’s stock, valued at $1,748,105.10. The trade was a 11.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,893 shares of company stock worth $476,949. Company insiders own 5.37% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Wasatch Advisors LP lifted its stake in Bel Fuse by 2.2% in the 2nd 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 in the last quarter. Janus Henderson Group PLC boosted its position in Bel Fuse by 22.7% during the 1st quarter. Janus Henderson Group PLC now owns 760,141 shares of the electronics maker’s stock worth $150,587,000 after acquiring an additional 140,804 shares during the period. Tidal Investments LLC boosted its position in Bel Fuse by 49.4% during the 2nd quarter. Tidal Investments LLC now owns 211,805 shares of the electronics maker’s stock worth $70,540,000 after acquiring an additional 70,014 shares during the period. Tema ETFs LLC grew its stake in Bel Fuse by 52.2% during the 2nd quarter. Tema ETFs LLC now owns 202,849 shares of the electronics maker’s stock valued at $67,557,000 after acquiring an additional 69,531 shares in the last quarter. Finally, Congress Asset Management Co. purchased a new position in Bel Fuse during the 3rd quarter valued at about $63,101,000. 58.39% of the stock is owned by institutional investors and hedge funds.

Bel Fuse Company Profile

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.