Bel Fuse (NASDAQ:BELFB) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Key Points

• JPMorgan cut Bel Fuse’s price target from $380 to $330 but maintained an “overweight” rating, implying nearly 40% upside from the previous close.
• Analyst sentiment remains broadly positive: six analysts rate the stock a Buy, one rates it Hold and one rates it Sell, producing a consensus “Moderate Buy” rating and average target of $315.67.
• Bel Fuse shares fell 1.1% to $235.79, while insiders sold 1,893 shares worth approximately $476,949 over the past 90 days; institutional investors own 58.39% of the company.

Bel Fuse (NASDAQ:BELFB - Get Free Report) had its price target reduced by analysts at JPMorgan Chase & Co. from $380.00 to $330.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an "overweight" rating on the electronics maker's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 39.95% from the company's previous close.

Several other equities analysts also recently commented on the company. Wall Street Zen upgraded Bel Fuse from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Bank of America assumed 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 for the company. Citigroup started coverage on shares of Bel Fuse in a research note on Monday, July 13th. They issued a "buy" rating for the company. Northland Securities set a $326.00 price objective on shares of Bel Fuse in a report on Friday, July 31st. Finally, Weiss Ratings lowered shares of Bel Fuse from a "hold (c+)" rating to a "hold (c)" 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 given a Sell rating to the company's stock. According to MarketBeat.com, Bel Fuse presently has an average rating of "Moderate Buy" and an average price target of $315.67.

Bel Fuse Stock Down 1.1%

Shares of Bel Fuse stock traded down $2.62 during trading on Tuesday, hitting $235.79. The stock had a trading volume of 90,300 shares, compared to its average volume of 220,116. The stock has a 50 day simple moving average of $256.98 and a 200 day simple moving average of $262.76. The company has a market capitalization of $3.40 billion, a PE ratio of 57.02, a P/E/G ratio of 2.63 and a beta of 1.67. Bel Fuse has a 1 year low of $129.94 and a 1 year high of $335.29.

Insider Transactions at Bel Fuse

In related news, Director Peter E. Gilbert sold 500 shares of the business's stock in a transaction 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 sale, the director owned 750 shares of the company's stock, valued at $219,090. The trade was a 40.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vincent Vellucci sold 1,000 shares of the company's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $235.15, for a total transaction of $235,150.00. Following the completion of the sale, the director directly owned 7,434 shares in the company, valued at approximately $1,748,105.10. The trade was a 11.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,893 shares of company stock valued at $476,949. Corporate insiders own 5.37% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BELFB. Congress Asset Management Co. acquired a new stake in Bel Fuse in the third quarter worth about $63,101,000. Sequoia Financial Advisors LLC acquired a new position in Bel Fuse during the 2nd quarter valued at about $205,000. Tidal Investments LLC lifted its position in Bel Fuse by 49.4% during the 2nd quarter. Tidal Investments LLC now owns 211,805 shares of the electronics maker's stock valued at $70,540,000 after purchasing an additional 70,014 shares during the period. Arizona State Retirement System lifted its position in Bel Fuse by 14.7% during the 2nd quarter. Arizona State Retirement System now owns 3,322 shares of the electronics maker's stock valued at $1,106,000 after purchasing an additional 426 shares during the period. Finally, Nykredit A S acquired a new position in Bel Fuse during the 2nd quarter valued at about $224,000. 58.39% of the stock is currently owned by institutional investors.

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.

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