Bel Fuse (NASDAQ:BELFB) Price Target Raised to $360.00

Key Points

• JPMorgan raised Bel Fuse’s price target from $330 to $360 while maintaining an “overweight” rating, implying 52.45% upside from the prior close.
• Analyst sentiment remains favorable, with six Buy ratings and two Hold ratings, resulting in a “Moderate Buy” consensus and an average target price of $320.67.
• Bel Fuse’s latest quarterly earnings missed estimates, reporting $1.83 in EPS versus $2.72 expected, although revenue of $220.51 million exceeded analyst expectations.

Bel Fuse (NASDAQ:BELFB - Get Free Report) had its target price lifted by equities researchers at JPMorgan Chase & Co. from $330.00 to $360.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an "overweight" rating on the electronics maker's stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 52.45% from the stock's previous close.

Several other equities analysts have also weighed in on BELFB. Northland Securities set a $326.00 price objective on shares of Bel Fuse in a research report on Friday, July 31st. Zacks Research upgraded shares of Bel Fuse from a "strong sell" rating to a "hold" rating in a research report on Wednesday, October 14th. Wall Street Zen upgraded Bel Fuse from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Weiss Ratings upgraded shares of Bel Fuse from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, October 13th. Finally, B. Riley Financial assumed coverage on Bel Fuse in a report on Tuesday, July 14th. They set a "buy" rating on the stock. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $320.67.

Bel Fuse Trading Up 0.2%

BELFB traded up $0.42 on Friday, hitting $236.15. 287,900 shares of the company were exchanged, compared to its average volume of 219,052. Bel Fuse has a twelve month low of $133.71 and a twelve month high of $335.29. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 56.23, a price-to-earnings-growth ratio of 2.46 and a beta of 1.67. The firm has a 50-day moving average price of $239.54 and a two-hundred day moving average price of $247.49.

Bel Fuse (NASDAQ:BELFB - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $1.83 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.89). The business had revenue of $220.51 million during the quarter, compared to analyst estimates of $215.74 million. Bel Fuse had a net margin of 7.34% and a return on equity of 9.76%. Equities analysts expect that Bel Fuse will post 6.89 EPS for the current year.

Insiders Place Their Bets

In other news, Director Peter E. Gilbert sold 500 shares of the business's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $292.12, for a total value of $146,060.00. Following the completion of the sale, the director owned 750 shares in the company, valued at approximately $219,090. The trade was a 40.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Vincent Vellucci sold 1,000 shares of the company's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $235.15, for a total value of $235,150.00. Following the transaction, the director directly owned 7,434 shares in the company, valued at $1,748,105.10. This represents a 11.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,893 shares of company stock worth $476,949. 5.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Bel Fuse

A number of institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its stake in shares of Bel Fuse by 22.7% during the 1st quarter. Janus Henderson Group PLC now owns 760,141 shares of the electronics maker's stock worth $150,587,000 after buying an additional 140,804 shares in the last quarter. Wasatch Advisors LP lifted its stake in shares of 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 purchasing an additional 10,705 shares in the last quarter. Congress Asset Management Co. purchased a new stake in shares of Bel Fuse during the 3rd quarter valued at about $63,101,000. Dimensional Fund Advisors LP lifted its holdings in Bel Fuse by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 256,833 shares of the electronics maker's stock worth $50,851,000 after buying an additional 1,992 shares in the last quarter. Finally, Tidal Investments LLC grew its position in shares of Bel Fuse by 49.4% during the second quarter. Tidal Investments LLC now owns 211,805 shares of the electronics maker's stock worth $70,540,000 after buying an additional 70,014 shares in the last quarter. Hedge funds and other institutional investors own 58.39% of the company's stock.

Bel Fuse Company Profile

Bel Fuse Inc is a designer, manufacturer and supplier of products that power, protect and connect electronic circuits. The company's portfolio includes circuit protection devices, magnetic components, interconnect products, power supplies, power conversion solutions and discrete components used in electronic equipment and systems.

Bel Fuse serves customers in industries including telecommunications, networking, computing, industrial equipment, consumer electronics, automotive, medical technology, aerospace and defense.

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