Bel Fuse (NASDAQ:BELFB) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

Bel Fuse (NASDAQ:BELFB) had its target price reduced by JPMorgan Chase & Co. from $380.00 to $330.00 in a report issued on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the electronics maker’s stock.

Several other research firms also recently weighed in on BELFB. Citigroup started coverage on shares of Bel Fuse in a research note on Monday, July 13th. They issued a “buy” rating for the company. B. Riley Financial assumed coverage on shares of Bel Fuse in a research report on Tuesday, July 14th. They set a “buy” rating for the company. Weiss Ratings lowered Bel Fuse from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, September 28th. Wall Street Zen upgraded Bel Fuse from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Northland Securities set a $326.00 price objective on Bel Fuse in a research note on Friday, July 31st. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Bel Fuse has an average rating of “Moderate Buy” and an average target price of $315.67.

Bel Fuse Stock Performance

Shares of Bel Fuse stock opened at $219.07 on Tuesday. Bel Fuse has a 52-week low of $129.94 and a 52-week high of $335.29. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 52.92, a price-to-earnings-growth ratio of 2.40 and a beta of 1.67. The company has a fifty day moving average of $252.86 and a 200-day moving average of $263.11.

Bel Fuse Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be given a $0.07 dividend. The ex-dividend date is Thursday, October 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.1%. Bel Fuse’s payout ratio is presently 6.76%.

Insider Transactions at Bel Fuse

In other news, Director Peter E. Gilbert sold 500 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $292.12, for a total transaction of $146,060.00. Following the completion of the sale, the director directly owned 750 shares in the company, valued at approximately $219,090. This represents a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Vincent Vellucci sold 1,000 shares of the stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $235.15, for a total transaction of $235,150.00. Following the sale, the director owned 7,434 shares of the company’s stock, valued at approximately $1,748,105.10. This represents a 11.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,893 shares of company stock worth $476,949 in the last 90 days. Corporate insiders own 5.37% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP lifted its holdings in Bel Fuse by 2.2% in the 2nd quarter. Wasatch Advisors LP now owns 489,414 shares of the electronics maker’s stock worth $162,994,000 after buying an additional 10,705 shares during the period. 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 last quarter. Tidal Investments LLC increased its stake in shares of Bel Fuse by 49.4% during the second quarter. Tidal Investments LLC now owns 211,805 shares of the electronics maker’s stock valued at $70,540,000 after buying an additional 70,014 shares during the period. Tema ETFs LLC increased its stake in shares of Bel Fuse by 52.2% during the second quarter. Tema ETFs LLC now owns 202,849 shares of the electronics maker’s stock valued at $67,557,000 after buying an additional 69,531 shares during the period. Finally, Congress Asset Management Co. purchased a new position in shares of Bel Fuse during the third quarter valued at approximately $63,101,000. Hedge funds and other institutional investors own 58.39% of the company’s stock.

About Bel Fuse

Bel Fuse Inc (NASDAQ: BELFB) designs, manufactures and sells products that protect, connect and manage electrical power in electronic systems. Its offerings include circuit protection devices, power supplies and power-management products, magnetic components, interconnect solutions, cable assemblies, discrete components and integrated modules.

The company’s products are used in a range of markets, including networking and telecommunications, computing, consumer electronics, industrial equipment, automotive applications, medical systems, transportation, and aerospace and defense.