Oppenheimer Initiates Coverage on Bel Fuse (NASDAQ:BELFB)

Research analysts at Oppenheimer assumed coverage on shares of Bel Fuse (NASDAQ:BELFB) in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $105.00 price target on the electronics maker’s stock. Oppenheimer’s price objective indicates a potential upside of 24.66% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Northland Securities boosted their price objective on shares of Bel Fuse from $80.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Northland Capmk raised Bel Fuse from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 5th. StockNews.com downgraded Bel Fuse from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 2nd. Finally, Needham & Company LLC boosted their target price on shares of Bel Fuse from $79.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $98.33.

Bel Fuse Trading Down 7.8 %

Shares of BELFB stock opened at $84.23 on Tuesday. The company has a market cap of $1.06 billion, a PE ratio of 19.32 and a beta of 1.33. 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 stock’s 50 day simple moving average is $80.53 and its two-hundred day simple moving average is $72.56. Bel Fuse has a 1 year low of $45.74 and a 1 year high of $92.61.

Insider Buying and Selling

In other news, insider Stephen Dawson sold 1,500 shares of Bel Fuse stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $77.65, for a total transaction of $116,475.00. Following the sale, the insider now owns 14,832 shares in the company, valued at approximately $1,151,704.80. The trade was a 9.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joseph Francis Berry sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $80.30, for a total value of $80,300.00. Following the completion of the sale, the vice president now directly owns 8,023 shares of the company’s stock, valued at approximately $644,246.90. This trade represents a 11.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. increased its position in Bel Fuse by 26.5% during the 3rd quarter. Victory Capital Management Inc. now owns 40,321 shares of the electronics maker’s stock worth $3,166,000 after purchasing an additional 8,442 shares during the period. Tectonic Advisors LLC raised its position in Bel Fuse by 80.7% in the third quarter. Tectonic Advisors LLC now owns 17,742 shares of the electronics maker’s stock worth $1,393,000 after acquiring an additional 7,922 shares in the last quarter. Hodges Capital Management Inc. lifted its holdings in Bel Fuse by 47.7% in the third quarter. Hodges Capital Management Inc. now owns 75,785 shares of the electronics maker’s stock valued at $5,950,000 after acquiring an additional 24,490 shares during the period. Pinnacle Associates Ltd. lifted its position in shares of Bel Fuse by 168.0% during the 3rd quarter. Pinnacle Associates Ltd. now owns 36,680 shares of the electronics maker’s stock valued at $2,880,000 after acquiring an additional 22,995 shares during the period. Finally, Roubaix Capital LLC grew its holdings in shares of Bel Fuse by 16.4% in the 3rd quarter. Roubaix Capital LLC now owns 64,399 shares of the electronics maker’s stock worth $5,056,000 after acquiring an additional 9,069 shares during the period. Institutional investors and hedge funds own 58.39% of the company’s stock.

About Bel Fuse

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.