Bel Fuse (NASDAQ:BELFB) Price Target Raised to $130.00 at Needham & Company LLC

Key Points

• Needham & Company LLC raised the price target for Bel Fuse (NASDAQ:BELFB) from $116.00 to $130.00, suggesting a potential upside of 7.00% from the current price.
• Bel Fuse reported earnings of $1.35 per share for the last quarter, beating expectations significantly by $0.50.
• A majority of analysts have a favorable outlook on Bel Fuse, with one hold rating, five buy ratings, and two strong buy ratings reflected in an average rating of "Buy".
• Institutional investors hold 58.39% of Bel Fuse's stock, with recent significant increases in holdings by firms like GAMMA Investing LLC and UBS AM.

Bel Fuse (NASDAQ:BELFB - Get Free Report) had its price target raised by equities researchers at Needham & Company LLC from $116.00 to $130.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the electronics maker's stock. Needham & Company LLC's price objective would indicate a potential upside of 7.00% from the company's current price.

A number of other brokerages have also weighed in on BELFB. Baird R W upgraded Bel Fuse to a "strong-buy" rating in a research note on Tuesday, June 10th. Oppenheimer set a $125.00 price objective on Bel Fuse and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Northland Securities raised their target price on Bel Fuse from $93.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, June 30th. Finally, Robert W. Baird began coverage on Bel Fuse in a research report on Tuesday, June 10th. They set an "outperform" rating and a $88.00 target price for the company. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $113.60.

Bel Fuse Stock Performance

BELFB traded up $18.51 during midday trading on Friday, reaching $121.49. The company's stock had a trading volume of 267,640 shares, compared to its average volume of 110,701. Bel Fuse has a twelve month low of $57.99 and a twelve month high of $122.70. The stock has a market cap of $1.54 billion, a P/E ratio of 35.19, a PEG ratio of 1.52 and a beta of 1.51. The company has a fifty day simple moving average of $88.49 and a 200 day simple moving average of $80.40. The company has a current ratio of 3.31, a quick ratio of 1.83 and a debt-to-equity ratio of 0.76.

Bel Fuse (NASDAQ:BELFB - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The electronics maker reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.50. The firm had revenue of $152.24 million during the quarter, compared to the consensus estimate of $147.93 million. Bel Fuse had a return on equity of 12.38% and a net margin of 7.69%. Research analysts expect that Bel Fuse will post 4.63 earnings per share for the current year.

Insider Transactions at Bel Fuse

In other news, VP Kenneth Koon Keung Lai sold 4,000 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $84.03, for a total transaction of $336,120.00. Following the completion of the sale, the vice president directly owned 12,155 shares in the company, valued at approximately $1,021,384.65. This represents a 24.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. NEOS Investment Management LLC bought a new stake in shares of Bel Fuse during the fourth quarter valued at approximately $752,000. GAMMA Investing LLC boosted its stake in shares of Bel Fuse by 6,826.9% during the 1st quarter. GAMMA Investing LLC now owns 4,641 shares of the electronics maker's stock worth $347,000 after acquiring an additional 4,574 shares during the last quarter. Paragon Associates & Paragon Associates II Joint Venture lifted its stake in shares of Bel Fuse by 7.9% during the 4th quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 68,000 shares of the electronics maker's stock valued at $5,608,000 after buying an additional 5,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Bel Fuse by 26.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,254 shares of the electronics maker's stock valued at $1,670,000 after buying an additional 4,204 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in Bel Fuse in the 4th quarter valued at $305,000. Institutional investors own 58.39% of the company's stock.

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.

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