Needham & Company LLC Forecasts Strong Price Appreciation for Bel Fuse (NASDAQ:BELFB) Stock

Bel Fuse (NASDAQ:BELFB) had its price target lifted by analysts at Needham & Company LLC from $79.00 to $95.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the electronics maker’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 28.78% from the stock’s previous close.

Other analysts also recently issued research reports about the company. StockNews.com downgraded Bel Fuse from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 2nd. Northland Securities boosted their price target on Bel Fuse from $80.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Northland Capmk raised Bel Fuse from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 5th.

Bel Fuse Stock Performance

Shares of Bel Fuse stock opened at $73.77 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.00 and a quick ratio of 2.71. The firm has a market cap of $925.81 million, a price-to-earnings ratio of 16.92 and a beta of 1.35. The stock’s 50-day moving average is $77.82 and its 200-day moving average is $70.05. Bel Fuse has a one year low of $45.74 and a one year high of $85.91.

Institutional Investors Weigh In On Bel Fuse

Several institutional investors and hedge funds have recently added to or reduced their stakes in BELFB. Russell Investments Group Ltd. bought a new position in shares of Bel Fuse in the 1st quarter valued at $1,532,000. Truvestments Capital LLC bought a new position in Bel Fuse in the first quarter valued at about $407,000. Tectonic Advisors LLC boosted its stake in shares of Bel Fuse by 80.7% during the third quarter. Tectonic Advisors LLC now owns 17,742 shares of the electronics maker’s stock valued at $1,393,000 after purchasing an additional 7,922 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of Bel Fuse by 168.0% during the third quarter. Pinnacle Associates Ltd. now owns 36,680 shares of the electronics maker’s stock worth $2,880,000 after purchasing an additional 22,995 shares during the last quarter. Finally, Roubaix Capital LLC increased its stake in shares of Bel Fuse by 16.4% in the third quarter. Roubaix Capital LLC now owns 64,399 shares of the electronics maker’s stock valued at $5,056,000 after buying an additional 9,069 shares during the period. 58.39% of the stock is currently owned by institutional investors.

Bel Fuse Company Profile

Bel Fuse Inc designs, manufactures, markets, and sells products that power, protect, and connect electronic circuits. The company’s products are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries.