Bel Fuse (NASDAQ:BELFB) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Bel Fuse (NASDAQ:BELFB) from a hold rating to a buy rating in a research note released on Saturday.

Several other brokerages have also issued reports on BELFB. Citigroup assumed coverage on Bel Fuse in a report on Monday, July 13th. They set a “buy” rating for the company. Oppenheimer restated an “outperform” rating and issued a $315.00 price objective on shares of Bel Fuse in a report on Friday, May 1st. Bank of America started coverage on shares of Bel Fuse in a research report on Tuesday, July 14th. They set a “buy” rating and a $330.00 price objective on the stock. Needham & Company LLC lifted their target price on shares of Bel Fuse from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, B. Riley Financial initiated coverage on shares of Bel Fuse in a research report on Tuesday, July 14th. They issued a “buy” rating for the company. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Bel Fuse currently has a consensus rating of “Moderate Buy” and an average price target of $324.00.

Bel Fuse Trading Up 0.8%

BELFB opened at $291.59 on Friday. The stock has a fifty day moving average price of $281.77 and a 200 day moving average price of $249.92. Bel Fuse has a 1 year low of $124.42 and a 1 year high of $335.29. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 70.43, a PEG ratio of 3.09 and a beta of 1.72.

Bel Fuse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Thursday, October 15th. Bel Fuse’s dividend payout ratio is 6.76%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its holdings in Bel Fuse by 74.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 834,261 shares of the electronics maker’s stock worth $141,517,000 after purchasing an additional 355,563 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Bel Fuse by 22.7% during the first quarter. Janus Henderson Group PLC now owns 760,141 shares of the electronics maker’s stock valued at $150,587,000 after purchasing an additional 140,804 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Bel Fuse by 45.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 519,005 shares of the electronics maker’s stock valued at $88,039,000 after purchasing an additional 161,736 shares during the period. Wasatch Advisors LP raised its position in shares of Bel Fuse by 2.2% in the second quarter. Wasatch Advisors LP now owns 489,414 shares of the electronics maker’s stock valued at $162,994,000 after purchasing an additional 10,705 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Bel Fuse by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 267,950 shares of the electronics maker’s stock valued at $45,460,000 after purchasing an additional 2,803 shares during the period. 58.39% of the stock is owned by institutional investors.

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.