Bel Fuse (NASDAQ:BELFB) Downgraded by Zacks Research to Strong Sell

Zacks Research lowered shares of Bel Fuse (NASDAQ:BELFB) from a hold rating to a strong sell rating in a research report report published on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on BELFB. Wall Street Zen lowered shares of Bel Fuse from a “buy” rating to a “hold” rating in a report on Monday, March 16th. Northland Securities set a $321.00 price target on shares of Bel Fuse in a report on Monday, May 4th. Needham & Company LLC upped their price target on shares of Bel Fuse from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Oppenheimer reissued an “outperform” rating and issued a $315.00 price objective on shares of Bel Fuse in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. began coverage on shares of Bel Fuse in a research report on Wednesday, June 10th. They set an “overweight” rating and a $370.00 price objective on the stock. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $319.80.

Bel Fuse Stock Down 9.3%

NASDAQ BELFB opened at $251.53 on Monday. Bel Fuse has a 52 week low of $95.45 and a 52 week high of $335.29. The company has a quick ratio of 1.73, a current ratio of 3.18 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $3.20 billion, a P/E ratio of 57.30, a price-to-earnings-growth ratio of 2.73 and a beta of 1.68. The stock’s 50-day moving average price is $281.56 and its 200-day moving average price is $235.34.

Bel Fuse Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.1%. Bel Fuse’s payout ratio is currently 6.38%.

Institutional Investors Weigh In On Bel Fuse

Several institutional investors and hedge funds have recently modified their holdings of BELFB. Farther Finance Advisors LLC lifted its holdings in shares of Bel Fuse by 365.6% in the fourth quarter. Farther Finance Advisors LLC now owns 149 shares of the electronics maker’s stock worth $25,000 after buying an additional 117 shares in the last quarter. State of Wyoming purchased a new position in Bel Fuse during the first quarter valued at $30,000. Kemnay Advisory Services Inc. purchased a new position in Bel Fuse during the fourth quarter valued at $33,000. KBC Group NV bought a new stake in Bel Fuse in the 1st quarter valued at $38,000. Finally, Signature Equity Partners LLC bought a new stake in Bel Fuse in the 1st quarter valued at $39,000. Institutional investors own 58.39% of the company’s stock.

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.