Bel Fuse (NASDAQ:BELFB) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Bel Fuse (NASDAQ:BELFB) from a hold rating to a strong-buy rating in a report issued on Wednesday morning,Zacks.com reports.

A number of other research firms also recently weighed in on BELFB. Weiss Ratings restated a “buy (b-)” rating on shares of Bel Fuse in a report on Wednesday, October 8th. Needham & Company LLC increased their price target on Bel Fuse from $130.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Oppenheimer set a $180.00 price objective on Bel Fuse and gave the stock an “outperform” rating in a research note on Friday, October 31st. Robert W. Baird set a $170.00 target price on shares of Bel Fuse in a research report on Friday, October 31st. Finally, Wall Street Zen upgraded shares of Bel Fuse from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Two research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. Based on data from MarketBeat, Bel Fuse presently has a consensus rating of “Buy” and a consensus price target of $164.20.

Bel Fuse Stock Up 3.4%

NASDAQ:BELFB opened at $160.16 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.05 and a quick ratio of 1.72. Bel Fuse has a one year low of $57.99 and a one year high of $160.70. The firm’s 50 day simple moving average is $146.18 and its 200 day simple moving average is $113.65. The company has a market cap of $2.03 billion, a PE ratio of 30.80, a P/E/G ratio of 1.86 and a beta of 1.59.

Bel Fuse Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Bel Fuse by 1.4% in the first quarter. Vanguard Group Inc. now owns 917,097 shares of the electronics maker’s stock worth $68,654,000 after purchasing an additional 12,808 shares during the period. American Century Companies Inc. grew its stake in shares of Bel Fuse by 1.5% in the 1st quarter. American Century Companies Inc. now owns 357,131 shares of the electronics maker’s stock valued at $26,735,000 after buying an additional 5,376 shares during the period. Bessemer Group Inc. increased its position in Bel Fuse by 28.3% in the 2nd quarter. Bessemer Group Inc. now owns 325,800 shares of the electronics maker’s stock valued at $31,827,000 after buying an additional 71,895 shares in the last quarter. Geode Capital Management LLC raised its stake in Bel Fuse by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 321,922 shares of the electronics maker’s stock worth $31,451,000 after buying an additional 8,243 shares during the period. Finally, Wasatch Advisors LP boosted its holdings in Bel Fuse by 33.6% in the second quarter. Wasatch Advisors LP now owns 284,014 shares of the electronics maker’s stock worth $27,745,000 after acquiring an additional 71,390 shares in the last quarter. Institutional investors and hedge funds own 58.39% of the company’s stock.

About Bel Fuse

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.