Bel Fuse Inc. (NASDAQ:BELFB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Bel Fuse Inc. (NASDAQ:BELFB) have received a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $324.00.

A number of analysts have commented on BELFB shares. Bank of America assumed coverage on shares of Bel Fuse in a research note on Tuesday, July 14th. They issued a “buy” rating and a $330.00 price target for the company. JPMorgan Chase & Co. raised their target price on shares of Bel Fuse from $370.00 to $380.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Northland Securities set a $326.00 target price on shares of Bel Fuse in a research note on Friday, July 31st. Weiss Ratings cut Bel Fuse from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Finally, Citigroup assumed coverage on Bel Fuse in a research report on Monday, July 13th. They set a “buy” rating on the stock.

Bel Fuse Stock Performance

NASDAQ:BELFB opened at $243.79 on Tuesday. Bel Fuse has a 1-year low of $129.94 and a 1-year high of $335.29. The firm has a fifty day simple moving average of $270.33 and a 200 day simple moving average of $257.14. The stock has a market capitalization of $3.52 billion, a PE ratio of 58.89, a P/E/G ratio of 2.63 and a beta of 1.71.

Bel Fuse Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Thursday, October 15th. Bel Fuse’s payout ratio is currently 6.76%.

Insider Buying and Selling

In related news, Director Vincent Vellucci sold 393 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $243.61, for a total transaction of $95,738.73. Following the transaction, the director directly owned 8,434 shares of the company’s stock, valued at approximately $2,054,606.74. The trade was a 4.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter E. Gilbert sold 500 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $292.12, for a total value of $146,060.00. Following the completion of the sale, the director owned 750 shares in the company, valued at approximately $219,090. This trade represents a 40.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bel Fuse

Several large investors have recently modified their holdings of BELFB. Corient Private Wealth LP bought a new stake in shares of Bel Fuse during the 2nd quarter worth about $545,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Bel Fuse during the second quarter worth approximately $1,249,000. California State Teachers Retirement System lifted its position in Bel Fuse by 32,929.3% during the second quarter. California State Teachers Retirement System now owns 4,365,488 shares of the electronics maker’s stock worth $1,453,882,000 after acquiring an additional 4,352,271 shares during the last quarter. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Bel Fuse during the second quarter worth approximately $464,000. Finally, AXQ Capital LP acquired a new position in shares of Bel Fuse in the second quarter valued at approximately $231,000. 58.39% of the stock is owned by institutional investors.

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.