Zacks Research Upgrades Bel Fuse (NASDAQ:BELFB) to “Hold”

Bel Fuse (NASDAQ:BELFB) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday, Zacks reports.

Other analysts have also issued reports about the company. Wall Street Zen raised Bel Fuse from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings upgraded Bel Fuse from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. Bank of America initiated coverage on shares of Bel Fuse in a research note on Tuesday, July 14th. They set a “buy” rating and a $330.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on shares of Bel Fuse from $380.00 to $330.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, B. Riley Financial assumed coverage on shares of Bel Fuse in a report on Tuesday, July 14th. They set a “buy” rating on the stock. Six 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.67.

Bel Fuse Stock Down 2.0%

Shares of NASDAQ:BELFB opened at $219.07 on Wednesday. The company has a market cap of $3.16 billion, a P/E ratio of 52.92, a P/E/G ratio of 2.40 and a beta of 1.67. The business has a fifty day simple moving average of $252.86 and a 200-day simple moving average of $263.11. Bel Fuse has a 52 week low of $129.94 and a 52 week high of $335.29.

Insider Buying and Selling at Bel Fuse

In related news, Director Vincent Vellucci sold 1,000 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $235.15, for a total value of $235,150.00. Following the completion of the sale, the director directly owned 7,434 shares in the company, valued at approximately $1,748,105.10. This represents a 11.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter E. Gilbert sold 500 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $292.12, for a total value of $146,060.00. Following the completion of the sale, the director owned 750 shares of the company’s stock, valued at approximately $219,090. This trade represents a 40.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,893 shares of company stock valued at $476,949 in the last three months. Company insiders own 5.37% of the company’s stock.

Institutional Trading of Bel Fuse

Several large investors have recently bought and sold shares of BELFB. Janus Henderson Group PLC raised its stake in shares of 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 period. Tidal Investments LLC grew its holdings in Bel Fuse by 49.4% during the 2nd quarter. Tidal Investments LLC now owns 211,805 shares of the electronics maker’s stock valued at $70,540,000 after purchasing an additional 70,014 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Bel Fuse during the 1st quarter valued at $2,915,000. Empowered Funds LLC purchased a new stake in Bel Fuse during the 1st quarter worth $351,000. Finally, Navellier & Associates Inc. increased its position in shares of Bel Fuse by 227.0% during the second quarter. Navellier & Associates Inc. now owns 6,951 shares of the electronics maker’s stock worth $2,315,000 after acquiring an additional 4,825 shares during the last quarter. Institutional investors and hedge funds own 58.39% of the company’s stock.

About Bel Fuse

Bel Fuse Inc (NASDAQ: BELFB) designs, manufactures and sells products that protect, connect and manage electrical power in electronic systems. Its offerings include circuit protection devices, power supplies and power-management products, magnetic components, interconnect solutions, cable assemblies, discrete components and integrated modules.

The company’s products are used in a range of markets, including networking and telecommunications, computing, consumer electronics, industrial equipment, automotive applications, medical systems, transportation, and aerospace and defense.