Bel Fuse (NASDAQ:BELFB) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of Bel Fuse (NASDAQ:BELFB) from a strong-buy rating to a buy rating in a research report released on Saturday morning.

Several other equities analysts have also issued reports on the company. Zacks Research raised Bel Fuse from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. Northland Securities set a $188.00 target price on shares of Bel Fuse in a research report on Friday, October 31st. Oppenheimer set a $180.00 target price on shares of Bel Fuse and gave the company an “outperform” rating in a research note on Friday, October 31st. Weiss Ratings restated a “buy (b-)” rating on shares of Bel Fuse in a research report on Wednesday, October 8th. Finally, Needham & Company LLC increased their target price on Bel Fuse from $130.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $164.20.

Bel Fuse Price Performance

Shares of BELFB stock opened at $173.30 on Friday. Bel Fuse has a 52 week low of $57.99 and a 52 week high of $178.66. The stock has a market capitalization of $2.19 billion, a PE ratio of 33.33, a PEG ratio of 1.90 and a beta of 1.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.75 and a current ratio of 3.06. The stock’s fifty day moving average is $153.77 and its 200-day moving average is $130.35.

Bel Fuse Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 15th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, January 15th. Bel Fuse’s dividend payout ratio is currently 5.38%.

Insider Activity

In related news, VP Kenneth Koon Keung Lai sold 1,936 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $144.23, for a total transaction of $279,229.28. Following the completion of the sale, the vice president owned 8,319 shares of the company’s stock, valued at $1,199,849.37. This represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Joseph Berry sold 408 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $144.23, for a total transaction of $58,845.84. Following the transaction, the vice president owned 17,893 shares of the company’s stock, valued at approximately $2,580,707.39. This represents a 2.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,027 shares of company stock worth $435,034 over the last 90 days. 5.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bel Fuse

Large investors have recently bought and sold shares of the company. Arizona State Retirement System boosted its position in Bel Fuse by 3.3% during the 3rd quarter. Arizona State Retirement System now owns 3,112 shares of the electronics maker’s stock worth $439,000 after buying an additional 99 shares during the period. Canada Pension Plan Investment Board increased its holdings in Bel Fuse by 6.7% in the second quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the electronics maker’s stock valued at $156,000 after purchasing an additional 100 shares during the period. Janney Montgomery Scott LLC raised its position in Bel Fuse by 3.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 3,862 shares of the electronics maker’s stock worth $377,000 after purchasing an additional 113 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Bel Fuse by 52.5% during the 3rd quarter. Federated Hermes Inc. now owns 334 shares of the electronics maker’s stock worth $47,000 after buying an additional 115 shares during the period. Finally, JPMorgan Chase & Co. raised 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 worth $971,000 after acquiring an additional 116 shares during the last quarter. 58.39% of the stock is currently owned by institutional investors.

Bel Fuse Company Profile

Bel Fuse Inc designs, manufactures, markets, and sells products that power, protect, and connect electronic circuits. The company’s products are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries.