Bel Fuse (NASDAQ:BELFB) Shares Up 6.5% After Analyst Upgrade

Bel Fuse Inc. (NASDAQ:BELFB) was up 6.5% on Thursday after Needham & Company LLC raised their price target on the stock from $212.00 to $250.00. Needham & Company LLC currently has a buy rating on the stock. Bel Fuse traded as high as $235.79 and last traded at $235.6210. Approximately 75,265 shares traded hands during trading, a decline of 57% from the average daily volume of 173,725 shares. The stock had previously closed at $221.19.

Other analysts also recently issued reports about the company. Zacks Research downgraded Bel Fuse from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Bel Fuse in a report on Monday, December 29th. Oppenheimer set a $180.00 target price on shares of Bel Fuse and gave the company an “outperform” rating in a research report on Friday, October 31st. Wall Street Zen lowered shares of Bel Fuse from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 2nd. Finally, Robert W. Baird set a $170.00 price objective on shares of Bel Fuse in a research note on Friday, October 31st. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $196.20.

Hedge Funds Weigh In On Bel Fuse

Several hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Bel Fuse by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,127 shares of the electronics maker’s stock valued at $459,000 after buying an additional 240 shares in the last quarter. Bessemer Group Inc. increased its stake in Bel Fuse by 28.3% in the second quarter. Bessemer Group Inc. now owns 325,800 shares of the electronics maker’s stock valued at $31,827,000 after acquiring an additional 71,895 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Bel Fuse during the second quarter worth $202,000. Teacher Retirement System of Texas boosted its holdings in shares of Bel Fuse by 28.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 6,910 shares of the electronics maker’s stock valued at $675,000 after purchasing an additional 1,519 shares in the last quarter. Finally, Pinnacle Associates Ltd. increased its stake in shares of Bel Fuse by 15.6% in the 2nd quarter. Pinnacle Associates Ltd. now owns 14,065 shares of the electronics maker’s stock valued at $1,374,000 after purchasing an additional 1,900 shares during the last quarter. 58.39% of the stock is owned by institutional investors.

Bel Fuse Price Performance

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.75 and a current ratio of 3.02. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 47.87, a PEG ratio of 2.44 and a beta of 1.56. The business has a fifty day moving average price of $198.04 and a 200 day moving average price of $164.30.

About Bel Fuse

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.