Bel Fuse (NASDAQ:BELFB) Given New $330.00 Price Target at JPMorgan Chase & Co.

Bel Fuse (NASDAQ:BELFB) had its price target cut by equities researchers at JPMorgan Chase & Co. from $380.00 to $330.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the electronics maker’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 39.95% from the stock’s current price.

Several other brokerages also recently issued reports on BELFB. Weiss Ratings downgraded Bel Fuse from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, September 28th. B. Riley Financial began coverage on Bel Fuse in a report on Tuesday, July 14th. They set a “buy” rating on the stock. Bank of America began coverage on Bel Fuse in a report on Tuesday, July 14th. They set a “buy” rating and a $330.00 price objective on the stock. Northland Securities set a $326.00 price objective on Bel Fuse in a research report on Friday, July 31st. Finally, Zacks Research cut Bel Fuse from a “hold” rating to a “strong sell” rating in a research note on Monday, September 28th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $315.67.

Bel Fuse Stock Performance

BELFB traded down $2.62 during midday trading on Tuesday, reaching $235.79. 90,300 shares of the company were exchanged, compared to its average volume of 220,116. Bel Fuse has a one year low of $129.94 and a one year high of $335.29. The stock has a market capitalization of $3.40 billion, a P/E ratio of 57.02, a PEG ratio of 2.63 and a beta of 1.67. The stock’s 50-day simple moving average is $256.98 and its 200 day simple moving average is $262.76.

Insider Buying and Selling at Bel Fuse

In other news, Director Vincent Vellucci sold 1,000 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $235.15, for a total transaction of $235,150.00. Following the transaction, the director directly owned 7,434 shares in the company, valued at $1,748,105.10. The trade was a 11.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter E. Gilbert sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $292.12, for a total value of $146,060.00. Following the transaction, the director directly owned 750 shares in the company, valued at approximately $219,090. This trade represents a 40.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,893 shares of company stock valued at $476,949 over the last three months. 5.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bel Fuse

A number of institutional investors have recently modified their holdings of BELFB. Wasatch Advisors LP increased its holdings in Bel Fuse by 2.2% in the 2nd quarter. Wasatch Advisors LP now owns 489,414 shares of the electronics maker’s stock valued at $162,994,000 after buying an additional 10,705 shares during the period. Janus Henderson Group PLC raised its position in shares of Bel Fuse by 22.7% in the 1st quarter. Janus Henderson Group PLC now owns 760,141 shares of the electronics maker’s stock valued at $150,587,000 after buying an additional 140,804 shares in the last quarter. Tidal Investments LLC raised its position in shares of Bel Fuse by 49.4% in the 2nd quarter. Tidal Investments LLC now owns 211,805 shares of the electronics maker’s stock valued at $70,540,000 after buying an additional 70,014 shares in the last quarter. Tema ETFs LLC lifted its holdings in shares of Bel Fuse by 52.2% during the 2nd quarter. Tema ETFs LLC now owns 202,849 shares of the electronics maker’s stock worth $67,557,000 after acquiring an additional 69,531 shares during the period. Finally, Congress Asset Management Co. bought a new stake in shares of Bel Fuse during the 3rd quarter worth approximately $63,101,000. Institutional investors own 58.39% of the company’s stock.

Bel Fuse Company Profile

Bel Fuse Inc (NASDAQ: BELFB) designs, manufactures and sells products that protect, connect and manage electrical power in electronic systems. Its offerings include circuit protection devices, power supplies and power-management products, magnetic components, interconnect solutions, cable assemblies, discrete components and integrated modules.

The company’s products are used in a range of markets, including networking and telecommunications, computing, consumer electronics, industrial equipment, automotive applications, medical systems, transportation, and aerospace and defense.