JPMorgan Chase & Co. Begins Coverage on Bel Fuse (NASDAQ:BELFB)

Investment analysts at JPMorgan Chase & Co. began coverage on shares of Bel Fuse (NASDAQ:BELFB) in a research note issued to investors on Wednesday. The brokerage set an “overweight” rating and a $370.00 price target on the electronics maker’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 34.04% from the stock’s current price.

Several other equities research analysts have also recently issued reports on BELFB. Oppenheimer reaffirmed an “outperform” rating and set a $315.00 target price on shares of Bel Fuse in a research note on Friday, May 1st. Northland Securities set a $321.00 target price on shares of Bel Fuse in a research note on Monday, May 4th. Wall Street Zen cut shares of Bel Fuse from a “buy” rating to a “hold” rating in a research note on Monday, March 16th. Needham & Company LLC lifted their target price on shares of Bel Fuse from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings raised shares of Bel Fuse from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $319.80.

Bel Fuse Stock Down 1.1%

Shares of NASDAQ BELFB opened at $276.04 on Wednesday. The company’s 50-day simple moving average is $256.72 and its 200-day simple moving average is $216.42. Bel Fuse has a 52-week low of $78.35 and a 52-week high of $308.27. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 62.88, a price-to-earnings-growth ratio of 2.81 and a beta of 1.70. The company has a quick ratio of 1.73, a current ratio of 3.18 and a debt-to-equity ratio of 0.47.

Hedge Funds Weigh In On Bel Fuse

Institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in Bel Fuse by 365.6% in the 4th quarter. Farther Finance Advisors LLC now owns 149 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 117 shares during the last quarter. State of Wyoming acquired a new position in Bel Fuse in the 1st quarter valued at about $30,000. KBC Group NV acquired a new position in Bel Fuse in the 1st quarter valued at about $38,000. Kemnay Advisory Services Inc. acquired a new position in Bel Fuse in the 4th quarter valued at about $33,000. Finally, Signature Equity Partners LLC acquired a new position in Bel Fuse in the 1st quarter valued at about $39,000. 58.39% of the stock is currently owned by institutional investors and hedge funds.

About Bel Fuse

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.