Bel Fuse (NASDAQ:BELFB) Shares Up 6.5% on Analyst Upgrade

Bel Fuse Inc. (NASDAQ:BELFB) shares rose 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. Approximately 75,265 shares changed hands during trading, a decline of 57% from the average daily volume of 173,725 shares. The stock had previously closed at $221.19.

Several other analysts have also recently commented on BELFB. Northland Securities set a $247.00 price objective on shares of Bel Fuse in a research report on Tuesday, February 3rd. Robert W. Baird set a $170.00 price target on shares of Bel Fuse in a research report on Friday, October 31st. Zacks Research cut shares of Bel Fuse from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Bel Fuse in a research note on Monday, December 29th. Finally, Oppenheimer set a $180.00 price target on shares of Bel Fuse and gave the company an “outperform” rating in a report on Friday, October 31st. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $196.20.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BELFB. Voloridge Investment Management LLC raised its stake in shares of Bel Fuse by 28.8% during the fourth quarter. Voloridge Investment Management LLC now owns 40,583 shares of the electronics maker’s stock worth $6,884,000 after acquiring an additional 9,085 shares in the last quarter. SummitTX Capital L.P. purchased a new stake in shares of Bel Fuse during the 4th quarter valued at about $684,000. Janus Henderson Group PLC boosted its position in shares of Bel Fuse by 19.2% in 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 during the period. Evolve Private Wealth LLC bought a new position in shares of Bel Fuse in the fourth quarter worth about $628,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Bel Fuse by 14.1% in the fourth quarter. AQR Capital Management LLC now owns 4,846 shares of the electronics maker’s stock worth $822,000 after buying an additional 600 shares in the last quarter. Institutional investors and hedge funds own 58.39% of the company’s stock.

Bel Fuse Trading Up 5.6%

The company has a debt-to-equity ratio of 0.53, a current ratio of 3.06 and a quick ratio of 1.75. The stock has a 50-day moving average price of $195.71 and a two-hundred day moving average price of $163.11. The stock has a market cap of $2.96 billion, a PE ratio of 47.52, a price-to-earnings-growth ratio of 2.50 and a beta of 1.56.

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.