Bel Fuse (NASDAQ:BELFB) Trading 6.5% Higher Following Analyst Upgrade

Bel Fuse Inc. (NASDAQ:BELFB)’s share price traded up 6.5% during mid-day trading on Thursday after Needham & Company LLC raised their price target on the stock from $212.00 to $250.00. Needham & Company LLC currently has a buy rating on the stock. Bel Fuse traded as high as $235.79 and last traded at $235.6210. 75,265 shares were traded during mid-day trading, a decline of 57% from the average session volume of 173,725 shares. The stock had previously closed at $221.19.

A number of other brokerages have also recently weighed in on BELFB. Weiss Ratings reissued a “buy (b)” rating on shares of Bel Fuse in a research note on Monday, December 29th. Zacks Research downgraded Bel Fuse from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 2nd. Wall Street Zen downgraded Bel Fuse from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 2nd. Northland Securities set a $247.00 price objective on Bel Fuse in a research note on Tuesday, February 3rd. Finally, Robert W. Baird set a $170.00 target price on shares of Bel Fuse in a research note on Friday, October 31st. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $196.20.

Institutional Investors Weigh In On Bel Fuse

A number of large investors have recently modified their holdings of BELFB. Price T Rowe Associates Inc. MD lifted its position in Bel Fuse by 74.3% during 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 acquiring an additional 355,563 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Bel Fuse by 19.2% during the fourth quarter. Janus Henderson Group PLC now owns 619,337 shares of the electronics maker’s stock worth $105,016,000 after purchasing an additional 99,834 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake 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 grew its holdings in Bel Fuse by 74.3% during the 4th quarter. Wasatch Advisors LP now owns 410,487 shares of the electronics maker’s stock valued at $69,631,000 after purchasing an additional 174,969 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in Bel Fuse by 28.3% during the 2nd quarter. Bessemer Group Inc. now owns 325,800 shares of the electronics maker’s stock worth $31,827,000 after buying an additional 71,895 shares during the period. Institutional investors and hedge funds own 58.39% of the company’s stock.

Bel Fuse Price Performance

The company has a current ratio of 3.02, a quick ratio of 1.75 and a debt-to-equity ratio of 0.46. The stock has a market cap of $2.91 billion, a PE ratio of 46.86, a P/E/G ratio of 2.35 and a beta of 1.56. The company’s 50 day moving average is $196.80 and its 200-day moving average is $163.58.

About Bel Fuse

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.