Bel Fuse (NASDAQ:BELFB) Stock Bumped Up to Hold by Zacks Research

Key Points

• Zacks Research upgraded Bel Fuse from “strong sell” to “hold.” Despite the upgrade, the broader analyst consensus remains “Moderate Buy,” with a consensus price target of $315.67.
• Bel Fuse shares opened at $219.07, with a market capitalization of approximately $3.16 billion and a 52-week trading range of $129.94 to $335.29.
• Company insiders sold 1,893 shares worth about $476,949 over the past 90 days, while institutional investors own a significant 58.39% of the stock.

Bel Fuse (NASDAQ:BELFB - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Wednesday, Zacks reports.

BELFB has been the subject of several other research reports. Citigroup started coverage on Bel Fuse in a research note on Monday, July 13th. They set a "buy" rating for the company. Bank of America initiated coverage on shares of Bel Fuse in a research note on Tuesday, July 14th. They issued a "buy" rating and a $330.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on shares of Bel Fuse from $380.00 to $330.00 and set an "overweight" rating for the company in a report on Tuesday. Wall Street Zen upgraded shares of Bel Fuse from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Northland Securities set a $326.00 target price on shares of Bel Fuse in a research report on Friday, July 31st. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Bel Fuse currently has a consensus rating of "Moderate Buy" and a consensus price target of $315.67.

Bel Fuse Stock Performance

Shares of BELFB opened at $219.07 on Wednesday. The stock has a market capitalization of $3.16 billion, a P/E ratio of 52.92, a P/E/G ratio of 2.40 and a beta of 1.67. Bel Fuse has a 1 year low of $129.94 and a 1 year high of $335.29. The company's fifty day moving average is $252.86 and its two-hundred day moving average is $263.11.

Insider Buying and Selling at Bel Fuse

In related news, Director Vincent Vellucci sold 1,000 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $235.15, for a total transaction of $235,150.00. Following the sale, the director owned 7,434 shares of the company's stock, valued at $1,748,105.10. This trade represents a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter E. Gilbert sold 500 shares of Bel Fuse stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $292.12, for a total value of $146,060.00. Following the sale, the director owned 750 shares of the company's stock, valued at approximately $219,090. This 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 worth $476,949 over the last 90 days. Company insiders own 5.37% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its holdings in shares of Bel Fuse by 22.7% during the first 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. Tidal Investments LLC lifted its stake 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 valued at $70,540,000 after buying an additional 70,014 shares during the period. Empowered Funds LLC purchased a new position in shares of Bel Fuse during the first quarter valued at approximately $351,000. Navellier & Associates Inc. lifted its stake in shares of Bel Fuse by 227.0% during the second quarter. Navellier & Associates Inc. now owns 6,951 shares of the electronics maker's stock valued at $2,315,000 after buying an additional 4,825 shares during the period. Finally, Principal Financial Group Inc. acquired a new stake in Bel Fuse during the first quarter worth approximately $2,915,000. 58.39% of the stock is currently owned by hedge funds and other institutional investors.

About Bel Fuse

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.