Bel Fuse (NASDAQ:BELFB) Trading 6.5% Higher Following Analyst Upgrade

Shares of Bel Fuse Inc. (NASDAQ:BELFB) were up 6.5% on Thursday after Needham & Company LLC raised their price target on the stock from $212.00 to $250.00. Needham & Company LLC currently has a buy rating on the stock. Bel Fuse traded as high as $235.79 and last traded at $235.6210. Approximately 75,265 shares traded hands during trading, a decline of 57% from the average daily volume of 173,725 shares. The stock had previously closed at $221.19.

Several other equities research analysts have also recently issued reports on BELFB. Wall Street Zen lowered Bel Fuse from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 2nd. Northland Securities set a $247.00 price target on Bel Fuse in a report on Tuesday, February 3rd. Robert W. Baird set a $170.00 target price on Bel Fuse in a research report on Friday, October 31st. Oppenheimer set a $180.00 price objective on shares of Bel Fuse and gave the company an “outperform” rating in a research report on Friday, October 31st. Finally, Zacks Research downgraded Bel Fuse from a “strong-buy” rating to a “hold” rating in a report on Friday, January 2nd. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $196.20.

Hedge Funds Weigh In On Bel Fuse

A number of institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC lifted its position in shares of Bel Fuse by 365.6% in the 4th quarter. Farther Finance Advisors LLC now owns 149 shares of the electronics maker’s stock worth $25,000 after acquiring an additional 117 shares during the period. Kemnay Advisory Services Inc. bought a new stake in shares of Bel Fuse in the fourth quarter worth about $33,000. Jones Financial Companies Lllp boosted its position in shares of Bel Fuse by 139.8% during the third quarter. Jones Financial Companies Lllp now owns 259 shares of the electronics maker’s stock worth $37,000 after buying an additional 151 shares during the period. Federated Hermes Inc. boosted its stake in shares of Bel Fuse by 52.5% during the 3rd quarter. Federated Hermes Inc. now owns 334 shares of the electronics maker’s stock worth $47,000 after buying an additional 115 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Bel Fuse during the 3rd quarter worth approximately $78,000. Institutional investors own 58.39% of the company’s stock.

Bel Fuse Stock Up 5.6%

The company has a market cap of $2.96 billion, a price-to-earnings ratio of 47.52, a P/E/G ratio of 2.50 and a beta of 1.56. The stock has a fifty day moving average price of $195.71 and a two-hundred day moving average price of $163.11. The company has a quick ratio of 1.75, a current ratio of 3.06 and a debt-to-equity ratio of 0.53.

Bel Fuse Company Profile

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.