Bel Fuse (NASDAQ:BELFB) Lowered to "Buy" Rating by Wall Street Zen

Key Points

• Bel Fuse (NASDAQ:BELFB) was downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, reflecting changing analyst sentiments.
• The stock currently has a consensus rating of "Buy" with a consensus target price of $113.60, despite the recent downgrade.
• Insider selling has been noted, with total sales of 7,100 shares valued at $731,804 in the last 90 days, indicating increased insider activity.

Wall Street Zen downgraded shares of Bel Fuse (NASDAQ:BELFB - Free Report) from a strong-buy rating to a buy rating in a research note released on Saturday.

A number of other research analysts have also weighed in on the stock. Baird R W raised shares of Bel Fuse to a "strong-buy" rating in a research note on Tuesday, June 10th. Northland Securities lifted their price target on shares of Bel Fuse from $93.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, June 30th. Oppenheimer set a $125.00 price target on shares of Bel Fuse and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Robert W. Baird began coverage on shares of Bel Fuse in a research note on Tuesday, June 10th. They issued an "outperform" rating and a $88.00 price target on the stock. Finally, Needham & Company LLC boosted their price objective on shares of Bel Fuse from $116.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Two research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat.com, Bel Fuse has an average rating of "Buy" and an average target price of $113.60.

Bel Fuse Trading Up 3.3%

Bel Fuse stock traded up $4.43 during midday trading on Friday, hitting $137.03. 214,218 shares of the stock were exchanged, compared to its average volume of 158,790. The company has a fifty day simple moving average of $112.21 and a two-hundred day simple moving average of $88.08. Bel Fuse has a 52 week low of $57.99 and a 52 week high of $137.37. The stock has a market capitalization of $1.73 billion, a PE ratio of 33.59, a P/E/G ratio of 1.82 and a beta of 1.52. The company has a quick ratio of 1.72, a current ratio of 3.05 and a debt-to-equity ratio of 0.63.

Bel Fuse Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 15th will be paid a $0.07 dividend. This is an increase from Bel Fuse's previous quarterly dividend of $0.06. The ex-dividend date is Wednesday, October 15th. This represents a $0.28 annualized dividend and a yield of 0.2%. Bel Fuse's dividend payout ratio (DPR) is 6.86%.

Insider Buying and Selling

In other Bel Fuse news, insider Stephen Dawson sold 1,200 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $127.07, for a total value of $152,484.00. Following the sale, the insider owned 14,265 shares in the company, valued at $1,812,653.55. This represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Kenneth Koon Keung Lai sold 4,000 shares of Bel Fuse stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $84.03, for a total value of $336,120.00. Following the transaction, the vice president owned 12,155 shares of the company's stock, valued at $1,021,384.65. This represents a 24.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,100 shares of company stock worth $731,804. Company insiders own 5.37% of the company's stock.

Hedge Funds Weigh In On Bel Fuse

Several institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC boosted its position in shares of Bel Fuse by 147.1% in the first quarter. CWM LLC now owns 383 shares of the electronics maker's stock valued at $29,000 after acquiring an additional 228 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of Bel Fuse in the second quarter valued at about $50,000. BNP Paribas Financial Markets boosted its position in shares of Bel Fuse by 60.0% in the second quarter. BNP Paribas Financial Markets now owns 1,000 shares of the electronics maker's stock valued at $98,000 after acquiring an additional 375 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Bel Fuse by 437.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,038 shares of the electronics maker's stock valued at $101,000 after acquiring an additional 845 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of Bel Fuse by 6.7% in the second quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the electronics maker's stock valued at $156,000 after acquiring an additional 100 shares during the period. 58.39% of the stock is currently owned by institutional investors and hedge funds.

Bel Fuse Company Profile

Bel Fuse Inc designs, manufactures, markets, and sells products that power, protect, and connect electronic circuits. The company's products are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries.