Renaissance Technologies LLC Decreases Holdings in Bel Fuse Inc. $BELFB

Renaissance Technologies LLC trimmed its holdings in shares of Bel Fuse Inc. (NASDAQ:BELFB) by 7.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 213,872 shares of the electronics maker’s stock after selling 17,479 shares during the period. Renaissance Technologies LLC owned about 1.68% of Bel Fuse worth $42,342,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BELFB. Price T Rowe Associates Inc. MD increased its holdings in Bel Fuse by 74.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 834,261 shares of the electronics maker’s stock worth $141,517,000 after buying an additional 355,563 shares during the last quarter. Janus Henderson Group PLC raised its position in Bel Fuse by 19.2% in the fourth quarter. Janus Henderson Group PLC now owns 619,337 shares of the electronics maker’s stock worth $105,016,000 after acquiring an additional 99,834 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in Bel Fuse by 45.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 519,005 shares of the electronics maker’s stock valued at $88,039,000 after acquiring an additional 161,736 shares during the last quarter. Wasatch Advisors LP boosted its stake in Bel Fuse by 16.6% in the first quarter. Wasatch Advisors LP now owns 478,709 shares of the electronics maker’s stock valued at $94,775,000 after acquiring an additional 68,222 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Bel Fuse by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 267,950 shares of the electronics maker’s stock valued at $45,460,000 after acquiring an additional 2,803 shares during the period. 58.39% of the stock is owned by hedge funds and other institutional investors.

Bel Fuse Price Performance

BELFB opened at $270.26 on Tuesday. The firm has a 50-day moving average price of $280.64 and a 200-day moving average price of $245.00. Bel Fuse Inc. has a twelve month low of $118.08 and a twelve month 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 $3.44 billion, a price-to-earnings ratio of 61.56, a PEG ratio of 2.83 and a beta of 1.68.

Wall Street Analyst Weigh In

BELFB has been the topic of a number of research reports. B. Riley Financial began coverage on shares of Bel Fuse in a report on Tuesday, July 14th. They issued a “buy” rating on the stock. Weiss Ratings raised Bel Fuse from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Citigroup initiated coverage on Bel Fuse in a research report on Monday, July 13th. They issued a “buy” rating for the company. Bank of America started coverage on Bel Fuse in a research note on Tuesday, July 14th. They issued a “buy” rating and a $330.00 target price on the stock. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $315.00 price target on shares of Bel Fuse in a research report on Friday, May 1st. Eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Bel Fuse currently has an average rating of “Moderate Buy” and a consensus price target of $321.50.

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.