Bel Fuse (NASDAQ:BELFB) Given New $68.00 Price Target at Needham & Company LLC

Bel Fuse (NASDAQ:BELFB) had its price target dropped by investment analysts at Needham & Company LLC from $70.00 to $68.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the electronics maker’s stock. Needham & Company LLC’s target price indicates a potential upside of 15.80% from the company’s current price.

BELFB has been the topic of a number of other research reports. StockNews.com raised shares of Bel Fuse from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Northland Securities began coverage on shares of Bel Fuse in a report on Thursday, January 11th. They issued an “outperform” rating and a $83.00 price objective for the company.

Bel Fuse Trading Down 0.9 %

NASDAQ:BELFB opened at $58.72 on Monday. The business’s 50-day simple moving average is $57.58 and its 200 day simple moving average is $58.91. Bel Fuse has a one year low of $39.13 and a one year high of $74.75. The stock has a market cap of $749.27 million, a price-to-earnings ratio of 9.89 and a beta of 1.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.70 and a current ratio of 4.21.

Bel Fuse (NASDAQ:BELFB) last issued its earnings results on Wednesday, February 21st. The electronics maker reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.07). Bel Fuse had a net margin of 12.62% and a return on equity of 23.58%. The company had revenue of $140.01 million during the quarter, compared to analyst estimates of $152.86 million. As a group, sell-side analysts predict that Bel Fuse will post 4.7 earnings per share for the current fiscal year.

Insider Buying and Selling

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 value of $56,700.00. Following the transaction, the director now directly owns 7,392 shares of the company’s stock, valued at $419,126.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.37% of the company’s stock.

Institutional Trading of Bel Fuse

Several hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in shares of Bel Fuse during the fourth quarter worth approximately $6,041,000. Swiss National Bank bought a new position in shares of Bel Fuse in the third quarter worth about $1,117,000. Toronto Dominion Bank acquired a new position in shares of Bel Fuse during the third quarter worth approximately $48,000. Gotham Asset Management LLC acquired a new position in Bel Fuse during the 3rd quarter valued at $412,000. Finally, Strs Ohio raised its position in shares of Bel Fuse by 757.1% during the third quarter. Strs Ohio now owns 6,000 shares of the electronics maker’s stock valued at $286,000 after buying an additional 5,300 shares during the last quarter. Institutional investors and hedge funds own 58.39% of the company’s stock.

Bel Fuse Company Profile

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.