Bel Fuse (NASDAQ:BELFB) Now Covered by Needham & Company LLC

Investment analysts at Needham & Company LLC assumed coverage on shares of Bel Fuse (NASDAQ:BELFB) in a research report issued on Friday, Marketbeat Ratings reports. The firm set a “buy” rating and a $300.00 price target on the electronics maker’s stock. Needham & Company LLC‘s price target would suggest a potential upside of 27.04% from the company’s previous close.

BELFB has been the subject of several other research reports. Bank of America started coverage on Bel Fuse in a report on Tuesday, July 14th. They issued a “buy” rating and a $330.00 price target for the company. B. Riley Financial began coverage on Bel Fuse in a report on Tuesday, July 14th. They issued a “buy” rating for the company. Weiss Ratings raised Bel Fuse from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, October 13th. Zacks Research upgraded Bel Fuse from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 14th. Finally, Northland Securities set a $326.00 price target on shares of Bel Fuse in a research report on Friday, July 31st. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Bel Fuse currently has an average rating of “Moderate Buy” and a consensus price target of $320.67.

Bel Fuse Trading Up 0.2%

BELFB stock opened at $236.15 on Friday. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 56.23, a PEG ratio of 2.55 and a beta of 1.67. Bel Fuse has a 12 month low of $133.71 and a 12 month high of $335.29. The firm has a 50-day moving average of $239.02 and a two-hundred day moving average of $247.74.

Bel Fuse (NASDAQ:BELFB) last released its earnings results on Wednesday, October 28th. The electronics maker reported $1.83 earnings per share for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.89). The business had revenue of $220.51 million during the quarter, compared to analysts’ expectations of $215.74 million. Bel Fuse had a return on equity of 8.53% and a net margin of 7.34%. As a group, equities analysts forecast that Bel Fuse will post 6.89 earnings per share for the current year.

Insiders Place Their Bets

In other Bel Fuse news, Director Peter E. Gilbert sold 500 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $292.12, for a total value of $146,060.00. Following the transaction, the director owned 750 shares of the company’s stock, valued at $219,090. This represents a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Vincent Vellucci sold 1,000 shares of the 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 directly owned 7,434 shares of the company’s stock, valued at approximately $1,748,105.10. This trade represents a 11.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,893 shares of company stock valued at $476,949. Company insiders own 5.37% of the company’s stock.

Institutional Trading of Bel Fuse

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Wyoming acquired a new stake in Bel Fuse during the 1st quarter worth approximately $30,000. KBC Group NV acquired a new position in shares of Bel Fuse in the first quarter worth $38,000. Signature Equity Partners LLC acquired a new position in shares of Bel Fuse in the first quarter worth $39,000. PNC Financial Services Group Inc. increased its position in shares of Bel Fuse by 20.2% during the first quarter. PNC Financial Services Group Inc. now owns 286 shares of the electronics maker’s stock worth $57,000 after acquiring an additional 48 shares during the period. Finally, Signaturefd LLC increased its position in shares of Bel Fuse by 243.7% during the third quarter. Signaturefd LLC now owns 299 shares of the electronics maker’s stock worth $73,000 after acquiring an additional 212 shares during the period. Hedge funds and other institutional investors own 58.39% of the company’s stock.

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.