Needham & Company LLC Raises Bel Fuse (NASDAQ:BELFB) Price Target to $250.00

Bel Fuse (NASDAQ:BELFB) had its target price increased by equities researchers at Needham & Company LLC from $212.00 to $250.00 in a research report issued on Thursday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the electronics maker’s stock. Needham & Company LLC’s price objective suggests a potential upside of 6.36% from the company’s current price.

BELFB has been the topic of several other research reports. Weiss Ratings restated a “buy (b)” rating on shares of Bel Fuse in a research note on Monday, December 29th. Zacks Research lowered shares of Bel Fuse from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 2nd. Northland Securities set a $247.00 price objective on shares of Bel Fuse in a research note on Tuesday, February 3rd. Oppenheimer set a $180.00 target price on shares of Bel Fuse and gave the company an “outperform” rating in a research note on Friday, October 31st. Finally, Wall Street Zen lowered Bel Fuse from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 2nd. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Bel Fuse presently has an average rating of “Moderate Buy” and an average price target of $196.20.

Bel Fuse Trading Up 2.2%

Shares of BELFB opened at $235.04 on Thursday. 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 $2.98 billion, a PE ratio of 47.87, a PEG ratio of 2.44 and a beta of 1.56. Bel Fuse has a 1 year low of $57.99 and a 1 year high of $248.61. The stock has a 50 day simple moving average of $198.04 and a 200-day simple moving average of $164.30.

Hedge Funds Weigh In On Bel Fuse

A number of institutional investors and hedge funds have recently bought and sold shares of BELFB. Farther Finance Advisors LLC boosted its stake in shares of Bel Fuse by 365.6% during the fourth quarter. Farther Finance Advisors LLC now owns 149 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 117 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in Bel Fuse during the 4th quarter worth approximately $33,000. Jones Financial Companies Lllp grew its holdings in Bel Fuse by 139.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 259 shares of the electronics maker’s stock worth $37,000 after acquiring an additional 151 shares during the last quarter. Federated Hermes Inc. increased its position in Bel Fuse by 52.5% in the 3rd quarter. Federated Hermes Inc. now owns 334 shares of the electronics maker’s stock valued at $47,000 after acquiring an additional 115 shares during the period. Finally, State of Alaska Department of Revenue bought a new position in shares of Bel Fuse during the third quarter valued at $78,000. Institutional investors and hedge funds own 58.39% of the company’s stock.

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.