Bel Fuse (NASDAQ:BELFB) Downgraded to Hold at StockNews.com

Bel Fuse (NASDAQ:BELFB) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Saturday.

BELFB has been the topic of several other research reports. Northland Securities cut shares of Bel Fuse from an “outperform” rating to a “market perform” rating and set a $63.00 price target on the stock. in a research note on Thursday. Needham & Company LLC dropped their price target on shares of Bel Fuse from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, April 29th.

Bel Fuse Trading Down 0.9 %

NASDAQ:BELFB opened at $58.04 on Friday. The company’s 50 day moving average price is $57.67 and its 200-day moving average price is $59.00. Bel Fuse has a 52 week low of $39.13 and a 52 week high of $74.75. The company has a quick ratio of 2.70, a current ratio of 4.21 and a debt-to-equity ratio of 0.17. The stock has a market cap of $740.59 million, a price-to-earnings ratio of 9.77 and a beta of 1.46.

Bel Fuse (NASDAQ:BELFB) last posted its earnings results on Wednesday, February 21st. The electronics maker reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.07). Bel Fuse had a return on equity of 23.58% and a net margin of 12.62%. The company had revenue of $140.01 million during the quarter, compared to the consensus estimate of $152.86 million. On average, equities research analysts forecast that Bel Fuse will post 4.39 earnings per share for the current fiscal year.

Insider Transactions at Bel Fuse

In related news, Director Vincent Vellucci sold 1,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $56.70, for a total transaction of $56,700.00. Following the transaction, the director now directly owns 7,392 shares in the company, valued at approximately $419,126.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.37% of the company’s stock.

Institutional Investors Weigh In On Bel Fuse

Several hedge funds have recently modified their holdings of BELFB. Covestor Ltd lifted its position in shares of Bel Fuse by 26.5% in the 3rd quarter. Covestor Ltd now owns 1,012 shares of the electronics maker’s stock worth $48,000 after purchasing an additional 212 shares during the period. Toronto Dominion Bank purchased a new stake in shares of Bel Fuse in the 3rd quarter worth approximately $48,000. New York State Teachers Retirement System lifted its position in shares of Bel Fuse by 373.5% in the 1st quarter. New York State Teachers Retirement System now owns 947 shares of the electronics maker’s stock worth $57,000 after purchasing an additional 747 shares during the period. Tucker Asset Management LLC purchased a new stake in shares of Bel Fuse in the 3rd quarter worth approximately $59,000. Finally, AJOVista LLC purchased a new stake in shares of Bel Fuse in the 4th quarter worth approximately $73,000. Hedge funds and other institutional investors own 58.39% of the company’s stock.

Bel Fuse Company Profile

Bel Fuse Inc designs, manufactures, markets, and sells products that are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries in the United States, the People's Republic of China, Macao, the United Kingdom, Slovakia, Germany, India, Switzerland, and internationally.