Zacks Research Downgrades Bel Fuse (NASDAQ:BELFB) to Strong Sell

Key Points

• Zacks Research downgraded Bel Fuse to “strong sell” from “hold,” while Weiss Ratings also lowered its assessment. However, the broader analyst consensus remains “Moderate Buy,” with an average price target of $324.
• Bel Fuse shares opened at $245.48, down 1.0%, and remain well below their 52-week high of $335.29. The stock trades at a relatively high P/E ratio of 59.29.
• Company insiders sold 1,893 shares worth approximately $476,949 over the past three months, while institutional investors and hedge funds collectively own 58.39% of Bel Fuse.

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

Other equities analysts also recently issued research reports about the company. Weiss Ratings downgraded Bel Fuse from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday. Bank of America initiated coverage on shares of Bel Fuse in a report on Tuesday, July 14th. They set a "buy" rating and a $330.00 target price on the stock. B. Riley Financial started coverage on shares of Bel Fuse in a research report on Tuesday, July 14th. They set a "buy" rating on the stock. JPMorgan Chase & Co. boosted their price target on shares of Bel Fuse from $370.00 to $380.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Finally, Northland Securities set a $326.00 price target on shares of Bel Fuse in a research report on Friday, July 31st. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $324.00.

Bel Fuse Stock Down 1.0%

Shares of NASDAQ:BELFB opened at $245.48 on Monday. Bel Fuse has a 52-week low of $129.94 and a 52-week high of $335.29. The stock has a market cap of $3.54 billion, a P/E ratio of 59.29, a price-to-earnings-growth ratio of 2.67 and a beta of 1.71. The business's 50 day moving average is $260.19 and its 200 day moving average is $260.12.

Insider Activity

In related news, Director Peter E. Gilbert sold 500 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $292.12, for a total transaction of $146,060.00. Following the completion of the transaction, the director owned 750 shares in the company, valued at $219,090. The trade was a 40.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Vincent Vellucci sold 1,000 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $235.15, for a total transaction of $235,150.00. Following the sale, the director directly owned 7,434 shares of the company's stock, valued at $1,748,105.10. The trade was a 11.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,893 shares of company stock valued at $476,949. Insiders own 5.37% of the company's stock.

Hedge Funds Weigh In On Bel Fuse

A number of large investors have recently made changes to their positions in BELFB. Wasatch Advisors LP boosted its position 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 worth $162,994,000 after purchasing an additional 10,705 shares in the last quarter. Janus Henderson Group PLC increased its position in Bel Fuse by 22.7% during the 1st quarter. Janus Henderson Group PLC now owns 760,141 shares of the electronics maker's stock valued at $150,587,000 after buying an additional 140,804 shares in the last quarter. Tidal Investments LLC raised its stake in Bel Fuse by 49.4% in 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 last quarter. Tema ETFs LLC raised its stake in Bel Fuse by 52.2% in the second quarter. Tema ETFs LLC now owns 202,849 shares of the electronics maker's stock valued at $67,557,000 after buying an additional 69,531 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Bel Fuse by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 256,833 shares of the electronics maker's stock worth $50,851,000 after acquiring an additional 1,992 shares in the last quarter. 58.39% of the stock is owned by institutional investors and hedge funds.

About Bel Fuse

Bel Fuse Inc is a designer, manufacturer and supplier of products used to protect, power and connect electronic circuits. The company serves original equipment manufacturers, contract manufacturers and distributors across a range of industries, including telecommunications, networking, computing, consumer electronics, automotive, industrial, medical, aerospace and defense.

Bel Fuse's product portfolio includes circuit protection devices, connectors, cable assemblies, discrete components, magnetics, power supplies, power conversion products and related modules.

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