Bel Fuse (NASDAQ:BELFB) Stock Price Up 7% Following Analyst Upgrade

Bel Fuse Inc. (NASDAQ:BELFB)’s stock price traded up 7% during mid-day trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $370.00 to $380.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Bel Fuse traded as high as $283.65 and last traded at $271.1360. Approximately 30,554 shares traded hands during trading, a decline of 87% from the average daily volume of 238,626 shares. The stock had previously closed at $253.41.

A number of other equities research analysts have also weighed in on BELFB. B. Riley Financial began coverage on Bel Fuse in a research report on Tuesday, July 14th. They issued a “buy” rating on the stock. Weiss Ratings downgraded Bel Fuse from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Zacks Research lowered Bel Fuse from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. Citigroup initiated coverage on Bel Fuse in a research note on Monday, July 13th. They issued a “buy” rating for the company. Finally, Bank of America started coverage on shares of Bel Fuse in a report on Tuesday, July 14th. They issued a “buy” rating and a $330.00 price target on the stock. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Bel Fuse currently has an average rating of “Moderate Buy” and a consensus price target of $324.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Tema ETFs LLC grew its stake in Bel Fuse by 52.2% in the second quarter. Tema ETFs LLC now owns 202,849 shares of the electronics maker’s stock worth $67,557,000 after purchasing an additional 69,531 shares during the period. Wasatch Advisors LP lifted its position in Bel Fuse by 2.2% during the second quarter. Wasatch Advisors LP now owns 489,414 shares of the electronics maker’s stock valued at $162,994,000 after buying an additional 10,705 shares during the period. Argent Capital Management LLC bought a new stake in shares of Bel Fuse during the 1st quarter valued at $558,000. Bank of America Corp DE boosted its holdings in shares of Bel Fuse by 0.9% during the 1st quarter. Bank of America Corp DE now owns 10,348 shares of the electronics maker’s stock valued at $2,049,000 after buying an additional 89 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Bel Fuse by 22.7% in the 1st quarter. Janus Henderson Group PLC now owns 760,141 shares of the electronics maker’s stock worth $150,587,000 after buying an additional 140,804 shares during the period. Hedge funds and other institutional investors own 58.39% of the company’s stock.

Bel Fuse Stock Performance

The company has a current ratio of 3.18, a quick ratio of 1.73 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average is $280.28 and its 200-day moving average is $246.39. The company has a market capitalization of $3.52 billion, a P/E ratio of 66.49, a price-to-earnings-growth ratio of 2.51 and a beta of 1.68.

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.