Bel Fuse (NASDAQ:BELFB) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Bel Fuse (NASDAQ:BELFB) from a buy rating to a strong-buy rating in a research report released on Tuesday morning.

Other research analysts have also issued research reports about the company. Oppenheimer started coverage on Bel Fuse in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $105.00 price target for the company. Northland Securities raised 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, Needham & Company LLC upped their price target on shares of Bel Fuse from $79.00 to $95.00 and gave the company a “buy” rating in a report on Monday, November 18th. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Bel Fuse currently has a consensus rating of “Buy” and an average price target of $98.33.

Bel Fuse Price Performance

Bel Fuse stock opened at $82.43 on Tuesday. Bel Fuse has a 52-week low of $45.74 and a 52-week high of $92.61. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 0.94 and a beta of 1.30. The firm’s fifty day moving average is $81.01 and its 200 day moving average is $75.25. The company has a quick ratio of 2.71, a current ratio of 4.00 and a debt-to-equity ratio of 0.16.

Insider Buying and Selling at Bel Fuse

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

Hedge Funds Weigh In On Bel Fuse

Several hedge funds and other institutional investors have recently made changes to their positions in BELFB. Thrivent Financial for Lutherans boosted its holdings in shares of Bel Fuse by 277.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 167,496 shares of the electronics maker’s stock worth $10,927,000 after purchasing an additional 123,092 shares during the last quarter. Portolan Capital Management LLC grew its holdings in shares of Bel Fuse by 122.8% in the third quarter. Portolan Capital Management LLC now owns 120,858 shares of the electronics maker’s stock valued at $9,489,000 after purchasing an additional 66,621 shares during the period. Janus Henderson Group PLC raised its stake in Bel Fuse by 11.1% during the third quarter. Janus Henderson Group PLC now owns 256,172 shares of the electronics maker’s stock worth $20,109,000 after purchasing an additional 25,607 shares during the period. Hodges Capital Management Inc. boosted its holdings in Bel Fuse by 47.7% in the 3rd quarter. Hodges Capital Management Inc. now owns 75,785 shares of the electronics maker’s stock valued at $5,950,000 after purchasing an additional 24,490 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its holdings 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 worth $2,880,000 after buying an additional 22,995 shares during the last quarter. Hedge funds and other institutional investors 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.