Navellier & Associates Inc. Has $2.31 Million Holdings in Bel Fuse Inc. $BELFB

Navellier & Associates Inc. boosted its holdings in Bel Fuse Inc. (NASDAQ:BELFB) by 227.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,951 shares of the electronics maker’s stock after acquiring an additional 4,825 shares during the quarter. Navellier & Associates Inc.’s holdings in Bel Fuse were worth $2,315,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Bel Fuse by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,127 shares of the electronics maker’s stock worth $459,000 after purchasing an additional 240 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Bel Fuse by 1.2% during the second quarter. JPMorgan Chase & Co. now owns 9,939 shares of the electronics maker’s stock valued at $971,000 after buying an additional 116 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Bel Fuse by 2.5% during the second quarter. Rhumbline Advisers now owns 15,972 shares of the electronics maker’s stock valued at $1,560,000 after buying an additional 383 shares during the last quarter. Sei Investments Co. bought a new stake in Bel Fuse during the second quarter worth $312,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Bel Fuse by 9.3% during the second quarter. The Manufacturers Life Insurance Company now owns 3,953 shares of the electronics maker’s stock worth $386,000 after buying an additional 337 shares in the last quarter. 58.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related 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 transaction, the director 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.37% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price objective on Bel Fuse from $370.00 to $380.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. 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 began coverage on shares of Bel Fuse in a report on Tuesday, July 14th. They issued a “buy” rating for the company. Oppenheimer reissued an “outperform” rating and set a $315.00 price target on shares of Bel Fuse in a research report on Friday, May 1st. Finally, Wall Street Zen upgraded shares of Bel Fuse from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $324.00.

Bel Fuse Trading Down 3.5%

BELFB stock opened at $248.69 on Friday. The stock has a market cap of $3.59 billion, a P/E ratio of 60.07, a P/E/G ratio of 2.73 and a beta of 1.72. The stock’s fifty day simple moving average is $277.59 and its two-hundred day simple moving average is $256.58. Bel Fuse Inc. has a 1-year low of $129.94 and a 1-year high of $335.29.

Bel Fuse Dividend Announcement

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

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.