Bel Fuse (NASDAQ:BELFB) PT Raised to $70.00

Bel Fuse (NASDAQ:BELFB) had its price target upped by equities research analysts at Needham & Company LLC from $66.00 to $70.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the electronics maker’s stock. Needham & Company LLC’s target price would suggest a potential upside of 36.37% from the company’s previous close.

Separately, StockNews.com initiated coverage on shares of Bel Fuse in a research note on Thursday, October 5th. They set a “buy” rating for the company.

Bel Fuse Stock Performance

Shares of BELFB stock opened at $51.33 on Friday. The company has a current ratio of 3.08, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average price of $47.25 and a 200 day moving average price of $49.00. The company has a market cap of $656.00 million, a P/E ratio of 8.56 and a beta of 1.69. Bel Fuse has a 12 month low of $30.11 and a 12 month high of $63.18.

Bel Fuse (NASDAQ:BELFB) last issued its earnings results on Wednesday, July 26th. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.99. The firm had revenue of $168.78 million during the quarter, compared to the consensus estimate of $166.00 million. Bel Fuse had a net margin of 11.34% and a return on equity of 26.38%. Sell-side analysts predict that Bel Fuse will post 5.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Bel Fuse

In related news, Director Vincent Vellucci acquired 1,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was bought at an average price of $52.25 per share, for a total transaction of $52,250.00. Following the completion of the purchase, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $418,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Daniel Bernstein sold 14,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $52.00, for a total transaction of $728,000.00. Following the completion of the sale, the chief executive officer now owns 22,759 shares in the company, valued at $1,183,468. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Vincent Vellucci bought 1,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were acquired at an average price of $52.25 per share, with a total value of $52,250.00. Following the purchase, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $418,000. The disclosure for this purchase can be found here. 5.37% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bel Fuse

Several hedge funds have recently made changes to their positions in BELFB. Metropolitan Life Insurance Co NY purchased a new position in Bel Fuse during the second quarter worth about $33,000. Financial Management Professionals Inc. purchased a new position in Bel Fuse during the third quarter worth about $29,000. Strs Ohio purchased a new position in Bel Fuse during the second quarter worth about $40,000. Covestor Ltd purchased a new position in Bel Fuse during the second quarter worth about $46,000. Finally, Ameritas Investment Partners Inc. purchased a new position in Bel Fuse during the second quarter worth about $50,000. Institutional investors and hedge funds own 56.70% of the company’s stock.

Bel Fuse Company Profile

Bel Fuse Inc designs, manufactures, markets, and sells products that are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries in the United States, the People's Republic of China, Macao, the United Kingdom, Slovakia, Germany, India, Switzerland, and internationally.