Needham & Company LLC Issues Positive Forecast for Bel Fuse (NASDAQ:BELFB) Stock Price

Bel Fuse (NASDAQ:BELFB) had its target price hoisted by research analysts at Needham & Company LLC from $168.00 to $212.00 in a research note issued on Wednesday, Marketbeat.com reports. The firm presently has a “buy” rating on the electronics maker’s stock. Needham & Company LLC’s price objective suggests a potential upside of 9.38% from the company’s current price.

Several other analysts also recently issued reports on BELFB. Robert W. Baird set a $170.00 price objective on Bel Fuse in a report on Friday, October 31st. Zacks Research cut shares of Bel Fuse from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Bel Fuse in a report on Monday, December 29th. Northland Securities set a $188.00 price target on Bel Fuse in a research report on Friday, October 31st. Finally, Wall Street Zen upgraded Bel Fuse from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 21st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $173.00.

Bel Fuse Stock Performance

Shares of BELFB opened at $193.82 on Wednesday. The firm has a market capitalization of $2.45 billion, a PE ratio of 37.27, a P/E/G ratio of 2.00 and a beta of 1.56. The company has a quick ratio of 1.75, a current ratio of 3.06 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average price of $165.05 and a 200 day moving average price of $144.01. Bel Fuse has a 52-week low of $57.99 and a 52-week high of $195.58.

Insider Buying and Selling at Bel Fuse

In other Bel Fuse news, VP Joseph Berry sold 408 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $144.23, for a total transaction of $58,845.84. Following the completion of the sale, the vice president directly owned 17,893 shares in the company, valued at $2,580,707.39. This represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Kenneth Koon Keung Lai sold 564 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $141.96, for a total value of $80,065.44. Following the transaction, the vice president directly owned 7,755 shares in the company, valued at $1,100,899.80. This trade represents a 6.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 3,027 shares of company stock valued at $435,034 over the last three months. 5.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. XTX Topco Ltd bought a new position in shares of Bel Fuse during the second quarter valued at approximately $358,000. Inspire Investing LLC bought a new stake in Bel Fuse in the third quarter valued at $990,000. Sierra Summit Advisors LLC bought a new position in Bel Fuse in the 2nd quarter worth $906,000. Boston Partners lifted its position in shares of Bel Fuse by 34.8% in the 2nd quarter. Boston Partners now owns 51,307 shares of the electronics maker’s stock worth $5,012,000 after purchasing an additional 13,234 shares during the period. Finally, Pinnacle Associates Ltd. boosted its stake in shares of Bel Fuse by 15.6% during the 2nd quarter. Pinnacle Associates Ltd. now owns 14,065 shares of the electronics maker’s stock valued at $1,374,000 after purchasing an additional 1,900 shares in the last quarter. Hedge funds and other institutional investors own 58.39% of the company’s stock.

About Bel Fuse

Bel Fuse Inc is a global manufacturer of electronic components that bridge power, data and video applications. The company offers a comprehensive portfolio of products, including board-level circuit protection devices such as fuses, positive temperature coefficient (PTC) resistors and inductors; power transformers, modules and supplies; as well as connectivity solutions encompassing USB, HDMI, RJ45, coaxial and fiber-optic connectors. These products serve a wide array of end markets, including telecommunications, data communications, consumer electronics, industrial automation, automotive and renewable energy.

Founded in 1949 and headquartered in Oradell, New Jersey, Bel Fuse has grown through organic expansion and strategic acquisitions.