Needham & Company LLC Begins Coverage on Belden (NYSE:BDC)

Key Points

• Needham & Company initiated coverage of Belden with a “buy” rating and a $140 price target, implying approximately 23.8% upside from the stock’s previous close.
• Analyst sentiment is broadly positive: Belden has a consensus “Moderate Buy” rating and an average price target of $156 from eight analysts.
• Belden’s latest quarterly results exceeded expectations, with EPS of $2.34 versus the $2.02 consensus and revenue of $750.2 million; institutional investors own approximately 98.75% of the company’s shares.

Needham & Company LLC started coverage on shares of Belden (NYSE:BDC - Get Free Report) in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The brokerage set a "buy" rating and a $140.00 price target on the industrial products company's stock. Needham & Company LLC's price target suggests a potential upside of 23.78% from the stock's previous close.

A number of other equities analysts have also recently commented on the company. DA Davidson lifted their price target on Belden from $155.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, August 19th. Fox Advisors raised Belden from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. Zacks Research cut shares of Belden from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 2nd. Citigroup initiated coverage on shares of Belden in a research note on Friday, June 26th. They issued a "buy" rating and a $150.00 target price on the stock. Finally, Truist Financial reissued a "buy" rating and issued a $145.00 target price (down from $155.00) on shares of Belden in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $156.00.

Belden Price Performance

Shares of NYSE:BDC opened at $113.10 on Wednesday. The company's fifty day moving average price is $117.76 and its 200-day moving average price is $116.66. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.14 and a quick ratio of 1.49. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of 18.39 and a beta of 1.09. Belden has a one year low of $98.00 and a one year high of $159.99.

Belden (NYSE:BDC - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.32. The firm had revenue of $750.16 million during the quarter, compared to analysts' expectations of $746.75 million. Belden had a return on equity of 25.00% and a net margin of 8.52%.The company's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.89 EPS. Belden has set its Q3 2026 guidance at 2.150-2.300 EPS. On average, equities research analysts anticipate that Belden will post 8.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Belden

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC grew its stake in Belden by 103.1% in the 2nd quarter. Tidal Investments LLC now owns 5,506 shares of the industrial products company's stock worth $660,000 after acquiring an additional 2,795 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of Belden by 111.4% during the second quarter. Squarepoint Ops LLC now owns 23,192 shares of the industrial products company's stock valued at $2,781,000 after acquiring an additional 12,219 shares in the last quarter. Nykredit A S bought a new stake in shares of Belden during the second quarter valued at approximately $171,000. Corient Private Wealth LP boosted its holdings in shares of Belden by 61.3% in the second quarter. Corient Private Wealth LP now owns 3,699 shares of the industrial products company's stock valued at $443,000 after purchasing an additional 1,406 shares during the period. Finally, Amundi grew its stake in Belden by 6.4% in the second quarter. Amundi now owns 8,891 shares of the industrial products company's stock worth $1,066,000 after purchasing an additional 534 shares in the last quarter. Institutional investors own 98.75% of the company's stock.

About Belden

Belden Inc NYSE: BDC is a global provider of signal transmission, connectivity and networking solutions. The company designs and manufactures products that help businesses transmit data, video and other signals across enterprise, industrial and broadcast environments.

Its offerings include copper and fiber-optic cable, connectivity components, networking equipment, industrial automation and control products, and solutions for data centers, commercial buildings and industrial facilities.

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