Bel Fuse (NASDAQ:BELFB) Now Covered by Bank of America

Bank of America assumed coverage on shares of Bel Fuse (NASDAQ:BELFB) in a report released on Tuesday, MarketBeat.com reports. The brokerage issued a buy rating and a $330.00 price objective on the electronics maker’s stock.

Other equities research analysts have also issued reports about the stock. Wall Street Zen lowered shares of Bel Fuse from a “buy” rating to a “hold” rating in a report on Monday, March 16th. Needham & Company LLC raised their target price on shares of Bel Fuse from $250.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Oppenheimer reaffirmed an “outperform” rating and set a $315.00 target price on shares of Bel Fuse in a research note on Friday, May 1st. B. Riley Financial assumed coverage on shares of Bel Fuse in a report on Tuesday. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. started coverage on Bel Fuse in a research note on Wednesday, June 10th. They issued an “overweight” rating and a $370.00 price target for the company. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $321.50.

Bel Fuse Stock Up 6.1%

Shares of NASDAQ BELFB opened at $279.39 on Tuesday. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 63.64, a PEG ratio of 2.59 and a beta of 1.68. The company has a current ratio of 3.18, a quick ratio of 1.73 and a debt-to-equity ratio of 0.47. Bel Fuse has a 12 month low of $95.45 and a 12 month high of $335.29. The stock has a 50-day moving average price of $281.75 and a two-hundred day moving average price of $238.66.

Bel Fuse Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.1%. The ex-dividend date is Wednesday, July 15th. Bel Fuse’s dividend payout ratio is 6.38%.

Hedge Funds Weigh In On Bel Fuse

Hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC increased its stake in shares of Bel Fuse by 365.6% in the fourth quarter. Farther Finance Advisors LLC now owns 149 shares of the electronics maker’s stock valued at $25,000 after buying an additional 117 shares during the period. State of Wyoming acquired a new position in shares of Bel Fuse in the first quarter worth approximately $30,000. Kemnay Advisory Services Inc. acquired a new position in shares of Bel Fuse in the fourth quarter worth approximately $33,000. KBC Group NV bought a new stake in Bel Fuse in the first quarter valued at approximately $38,000. Finally, Signature Equity Partners LLC bought a new stake in Bel Fuse in the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 58.39% of the company’s stock.

Bel Fuse Company 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.