Bel Fuse (NASDAQ:BELFB) Price Target Cut to $68.00

Bel Fuse (NASDAQ:BELFB) had its price objective dropped by equities research analysts at Needham & Company LLC from $70.00 to $68.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the electronics maker’s stock. Needham & Company LLC’s target price points to a potential upside of 15.80% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. StockNews.com upgraded Bel Fuse from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Northland Securities assumed coverage on shares of Bel Fuse in a report on Thursday, January 11th. They issued an “outperform” rating and a $83.00 target price on the stock.

Bel Fuse Stock Down 0.9 %

Shares of BELFB stock opened at $58.72 on Monday. The company has a 50 day simple moving average of $57.58 and a two-hundred day simple moving average of $58.91. The stock has a market cap of $749.27 million, a P/E ratio of 9.89 and a beta of 1.44. Bel Fuse has a 12 month low of $39.13 and a 12 month high of $74.75. The company has a current ratio of 4.21, a quick ratio of 2.70 and a debt-to-equity ratio of 0.17.

Bel Fuse (NASDAQ:BELFB) last posted its quarterly earnings data on Wednesday, February 21st. The electronics maker reported $1.37 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.07). The company had revenue of $140.01 million during the quarter, compared to the consensus estimate of $152.86 million. Bel Fuse had a return on equity of 23.58% and a net margin of 12.62%. On average, research analysts expect that Bel Fuse will post 4.7 earnings per share for the current year.

Insider Activity at Bel Fuse

In other news, Director Vincent Vellucci sold 1,000 shares of Bel Fuse stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $56.70, for a total transaction of $56,700.00. Following the completion of the sale, the director now owns 7,392 shares of the company’s stock, valued at $419,126.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bel Fuse

Several institutional investors have recently bought and sold shares of BELFB. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Bel Fuse during the 1st quarter valued at about $173,000. Principal Financial Group Inc. purchased a new position in shares of Bel Fuse in the 1st quarter valued at approximately $471,000. New York State Teachers Retirement System boosted its stake in Bel Fuse by 373.5% in the 1st quarter. New York State Teachers Retirement System now owns 947 shares of the electronics maker’s stock worth $57,000 after purchasing an additional 747 shares in the last quarter. Denali Advisors LLC acquired a new position in Bel Fuse during the 1st quarter valued at approximately $314,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Bel Fuse by 1,036.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 15,288 shares of the electronics maker’s stock worth $922,000 after buying an additional 13,943 shares during the last quarter. 58.39% of the stock is owned by hedge funds and other institutional investors.

About Bel Fuse

Bel Fuse Inc designs, manufactures, markets, and sells products that are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries in the United States, the People's Republic of China, Macao, the United Kingdom, Slovakia, Germany, India, Switzerland, and internationally.