Bel Fuse (NASDAQ:BELFB) Stock Price Target Raised at JPMorgan Chase & Co.

Bel Fuse (NASDAQ:BELFB) had its target price upped by JPMorgan Chase & Co. from $330.00 to $360.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the electronics maker’s stock.

A number of other equities analysts have also recently issued reports on BELFB. Bank of America assumed coverage on shares of Bel Fuse in a research report on Tuesday, July 14th. They issued a “buy” rating and a $330.00 price objective on the stock. Citigroup started coverage on shares of Bel Fuse in a report on Monday, July 13th. They set a “buy” rating for the company. Northland Securities set a $326.00 target price on Bel Fuse in a research note on Friday, July 31st. Needham & Company LLC restated a “buy” rating and set a $300.00 price target on shares of Bel Fuse in a report on Friday. Finally, Wall Street Zen upgraded Bel Fuse from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $320.67.

Bel Fuse Stock Up 0.2%

Shares of NASDAQ BELFB opened at $236.15 on Friday. Bel Fuse has a 52 week low of $133.71 and a 52 week high of $335.29. The firm’s fifty day moving average is $239.02 and its 200 day moving average is $247.74. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 56.23, a PEG ratio of 2.55 and a beta of 1.67.

Bel Fuse (NASDAQ:BELFB) last announced its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $1.83 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.89). The firm had revenue of $220.51 million for the quarter, compared to analysts’ expectations of $215.74 million. Bel Fuse had a net margin of 7.34% and a return on equity of 8.53%. Equities research analysts anticipate that Bel Fuse will post 6.89 earnings per share for the current year.

Insider Activity at Bel Fuse

In related news, Director Peter E. Gilbert sold 500 shares of Bel Fuse stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $292.12, for a total transaction of $146,060.00. Following the sale, the director directly owned 750 shares in the company, valued at $219,090. The trade was a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Vincent Vellucci sold 1,000 shares of Bel Fuse stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $235.15, for a total value of $235,150.00. Following the sale, the director owned 7,434 shares in the company, valued at $1,748,105.10. This represents a 11.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,893 shares of company stock worth $476,949. Insiders own 5.37% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BELFB. Congress Asset Management Co. bought a new position in Bel Fuse during the 3rd quarter valued at approximately $63,101,000. Janus Henderson Group PLC boosted its holdings in Bel Fuse by 22.7% in the first quarter. Janus Henderson Group PLC now owns 760,141 shares of the electronics maker’s stock worth $150,587,000 after acquiring an additional 140,804 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Bel Fuse by 364,600.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 94,822 shares of the electronics maker’s stock worth $19,253,000 after acquiring an additional 94,796 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Bel Fuse by 49.4% in the second quarter. Tidal Investments LLC now owns 211,805 shares of the electronics maker’s stock worth $70,540,000 after acquiring an additional 70,014 shares during the last quarter. Finally, Tema ETFs LLC increased its holdings in shares of Bel Fuse by 52.2% during the second quarter. Tema ETFs LLC now owns 202,849 shares of the electronics maker’s stock valued at $67,557,000 after acquiring an additional 69,531 shares in the last quarter. 58.39% of the stock is owned by hedge funds and other institutional investors.

About Bel Fuse

Bel Fuse Inc is a designer, manufacturer and supplier of products that power, protect and connect electronic circuits. The company’s portfolio includes circuit protection devices, magnetic components, interconnect products, power supplies, power conversion solutions and discrete components used in electronic equipment and systems.

Bel Fuse serves customers in industries including telecommunications, networking, computing, industrial equipment, consumer electronics, automotive, medical technology, aerospace and defense.