Ashton Thomas Private Wealth LLC Takes $492,000 Position in Bel Fuse Inc. $BELFB

Ashton Thomas Private Wealth LLC purchased a new position in shares of Bel Fuse Inc. (NASDAQ:BELFB) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 3,492 shares of the electronics maker’s stock, valued at approximately $492,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans raised its stake in shares of Bel Fuse by 66.8% in the third quarter. Thrivent Financial for Lutherans now owns 245,248 shares of the electronics maker’s stock worth $34,584,000 after acquiring an additional 98,178 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Bel Fuse by 28.3% during the 2nd quarter. Bessemer Group Inc. now owns 325,800 shares of the electronics maker’s stock worth $31,827,000 after buying an additional 71,895 shares in the last quarter. Wasatch Advisors LP lifted its holdings in Bel Fuse by 33.6% during the 2nd quarter. Wasatch Advisors LP now owns 284,014 shares of the electronics maker’s stock worth $27,745,000 after buying an additional 71,390 shares in the last quarter. SG Capital Management LLC acquired a new stake in shares of Bel Fuse in the 2nd quarter valued at $2,074,000. Finally, Bank of America Corp DE increased its stake in shares of Bel Fuse by 185.8% in the 2nd quarter. Bank of America Corp DE now owns 22,055 shares of the electronics maker’s stock valued at $2,155,000 after buying an additional 14,339 shares during the period. Institutional investors and hedge funds own 58.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BELFB shares. Zacks Research cut Bel Fuse from a “strong-buy” rating to a “hold” rating in a report on Friday, January 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bel Fuse in a research note on Monday, December 29th. Wall Street Zen cut shares of Bel Fuse from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 2nd. Oppenheimer set a $180.00 price objective on shares of Bel Fuse and gave the company an “outperform” rating in a report on Friday, October 31st. Finally, Northland Securities set a $247.00 target price on shares of Bel Fuse in a report on Tuesday, February 3rd. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Bel Fuse currently has a consensus rating of “Moderate Buy” and an average price target of $184.80.

Insider Buying and Selling

In other news, VP Joseph Berry sold 408 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $144.23, for a total transaction of $58,845.84. Following the completion of the sale, the vice president owned 17,893 shares of the company’s stock, valued at $2,580,707.39. This represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kenneth Koon Keung Lai sold 564 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $141.96, for a total transaction of $80,065.44. Following the completion of the sale, the vice president directly owned 7,755 shares in the company, valued at $1,100,899.80. This represents a 6.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 3,027 shares of company stock valued at $435,034. 5.37% of the stock is owned by company insiders.

Bel Fuse Stock Up 6.1%

Shares of Bel Fuse stock opened at $220.78 on Monday. The company has a market capitalization of $2.80 billion, a P/E ratio of 42.46, a price-to-earnings-growth ratio of 2.35 and a beta of 1.55. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.06 and a quick ratio of 1.75. The business has a 50-day moving average of $184.89 and a two-hundred day moving average of $157.25. Bel Fuse Inc. has a 1 year low of $57.99 and a 1 year high of $226.45.

Bel Fuse Profile

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.