Bel Fuse (NASDAQ:BELFB) Now Covered by Bank of America

Equities researchers at Bank of America assumed coverage on shares of Bel Fuse (NASDAQ:BELFB) in a note issued to investors on Tuesday, MarketBeat reports. The brokerage set a “buy” rating and a $330.00 price target on the electronics maker’s stock. Bank of America‘s price objective points to a potential upside of 20.62% from the company’s current price.

BELFB has been the topic of a number of other reports. Needham & Company LLC boosted their target price on Bel Fuse from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Citigroup started coverage on shares of Bel Fuse in a research report on Monday. They issued a “buy” rating on the stock. Weiss Ratings upgraded shares of Bel Fuse from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Wall Street Zen cut Bel Fuse from a “buy” rating to a “hold” rating in a research note on Monday, March 16th. Finally, Oppenheimer reissued an “outperform” rating and set a $315.00 target price on shares of Bel Fuse in a research report on Friday, May 1st. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $321.50.

Bel Fuse Price Performance

BELFB stock traded up $10.34 during trading on Tuesday, reaching $273.60. The company’s stock had a trading volume of 6,609 shares, compared to its average volume of 232,410. The company has a quick ratio of 1.73, a current ratio of 3.18 and a debt-to-equity ratio of 0.47. The company’s fifty day moving average is $282.11 and its 200-day moving average is $237.93. The company has a market capitalization of $3.48 billion, a P/E ratio of 63.15, a price-to-earnings-growth ratio of 2.68 and a beta of 1.68. Bel Fuse has a 1 year low of $95.45 and a 1 year high of $335.29.

Hedge Funds Weigh In On Bel Fuse

Several institutional investors have recently made changes to their positions in the company. Tudor Investment Corp ET AL bought a new stake in shares of Bel Fuse in the third quarter valued at about $2,739,000. Oliver Luxxe Assets LLC bought a new position in Bel Fuse during the 4th quarter worth about $1,376,000. Tema Etfs LLC increased its position in Bel Fuse by 70.0% during the 4th quarter. Tema Etfs LLC now owns 89,918 shares of the electronics maker’s stock valued at $15,253,000 after purchasing an additional 37,022 shares during the period. Phocas Financial Corp. purchased a new position in Bel Fuse during the 4th quarter valued at about $3,917,000. Finally, B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Bel Fuse in the 4th quarter valued at about $843,000. 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.