Bank of America Begins Coverage on Bel Fuse (NASDAQ:BELFB)

Key Points

• Bank of America initiated coverage on Bel Fuse with a buy rating and a $330 price target, implying about 20.6% upside from the prior close.
• Other analysts remain generally bullish: Bel Fuse now has a consensus Moderate Buy rating, with eight Buy ratings and one Sell, and an average target price of $321.50.
• The stock was trading up 3.9% to $273.60 on light volume, while the company continues to show solid liquidity and has seen notable institutional buying, with hedge funds owning 58.39% of shares.

Equities research analysts at Bank of America started coverage on shares of Bel Fuse (NASDAQ:BELFB - Get Free Report) in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $330.00 price target on the electronics maker's stock. Bank of America's price target points to a potential upside of 20.62% from the company's previous close.

A number of other brokerages have also weighed in on BELFB. Oppenheimer reiterated an "outperform" rating and issued a $315.00 price objective on shares of Bel Fuse in a research report on Friday, May 1st. Zacks Research downgraded Bel Fuse from a "hold" rating to a "strong sell" rating in a report on Monday, July 6th. Citigroup started coverage on Bel Fuse in a research note on Monday. They issued a "buy" rating for the company. Robert W. Baird set a $293.00 price target on shares of Bel Fuse in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. initiated coverage on shares of Bel Fuse in a report on Wednesday, June 10th. They issued an "overweight" rating and a $370.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $321.50.

Bel Fuse Trading Up 3.9%

BELFB traded up $10.34 on Tuesday, hitting $273.60. 6,609 shares of the company were exchanged, compared to its average volume of 232,410. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.73 and a current ratio of 3.18. The firm has a fifty day simple moving average of $282.11 and a two-hundred day simple moving average of $237.93. The stock has a market capitalization of $3.48 billion, a PE ratio of 63.15, a price-to-earnings-growth ratio of 2.68 and a beta of 1.68. Bel Fuse has a 12 month low of $95.45 and a 12 month high of $335.29.

Institutional Trading of Bel Fuse

A number of hedge funds have recently bought and sold shares of the company. Tudor Investment Corp ET AL bought a new stake in shares of Bel Fuse during the 3rd quarter valued at $2,739,000. Oliver Luxxe Assets LLC bought a new position in Bel Fuse in the 4th quarter worth $1,376,000. Tema Etfs LLC raised its holdings in Bel Fuse by 70.0% in the 4th quarter. Tema Etfs LLC now owns 89,918 shares of the electronics maker's stock worth $15,253,000 after purchasing an additional 37,022 shares during the period. Phocas Financial Corp. purchased a new position in Bel Fuse during the fourth quarter valued at $3,917,000. Finally, B. Metzler seel. Sohn & Co. AG purchased a new position in Bel Fuse during the fourth quarter valued at $843,000. Hedge funds and other institutional investors own 58.39% of the company's stock.

Bel Fuse Company Profile

Bel Fuse Inc is a global manufacturer of electronic components that bridge power, data and video applications. The company offers a comprehensive portfolio of products, including board-level circuit protection devices such as fuses, positive temperature coefficient (PTC) resistors and inductors; power transformers, modules and supplies; as well as connectivity solutions encompassing USB, HDMI, RJ45, coaxial and fiber-optic connectors. These products serve a wide array of end markets, including telecommunications, data communications, consumer electronics, industrial automation, automotive and renewable energy.

Founded in 1949 and headquartered in Oradell, New Jersey, Bel Fuse has grown through organic expansion and strategic acquisitions.

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