Bel Fuse (NASDAQ:BELFB) Reaches New 12-Month High on Analyst Upgrade

Key Points

• Needham upgrade raised the price target from $250 to $300 and reiterated a buy rating, pushing Bel Fuse to a new 52-week high near $291.06 (last $290.60).
• Insider selling: Director Peter E. Gilbert sold 4,500 shares and CEO Farouq Salem Ali Tuweiq sold 33,967 shares in February, with insiders owning 5.37% of the stock.
• Institutional accumulation accelerated in Q4—large buys by Price T. Rowe, Wasatch, T. Rowe Investment Management, Fisher and JPMorgan lifted institutional ownership to 58.39%.

Bel Fuse Inc. (NASDAQ:BELFB - Get Free Report) shares hit a new 52-week high on Friday after Needham & Company LLC raised their price target on the stock from $250.00 to $300.00. Needham & Company LLC currently has a buy rating on the stock. Bel Fuse traded as high as $291.06 and last traded at $290.6020, with a volume of 21865 shares trading hands. The stock had previously closed at $275.84.

BELFB has been the subject of a number of other research reports. Zacks Research cut shares of Bel Fuse from a "strong-buy" rating to a "hold" rating in a report on Friday, January 2nd. Northland Securities set a $266.00 price objective on shares of Bel Fuse in a report on Thursday, February 19th. Weiss Ratings cut shares of Bel Fuse from a "buy (b-)" rating to a "hold (c)" rating in a report on Wednesday, February 25th. Finally, Wall Street Zen cut shares of Bel Fuse from a "buy" rating to a "hold" rating in a report on Monday, March 16th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Bel Fuse presently has an average rating of "Moderate Buy" and an average target price of $229.00.

Insider Buying and Selling

In other news, Director Peter E. Gilbert sold 4,500 shares of the business's stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $238.75, for a total transaction of $1,074,375.00. Following the completion of the sale, the director owned 15,047 shares in the company, valued at approximately $3,592,471.25. The trade was a 23.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of the business's stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $234.00, for a total transaction of $7,948,278.00. The disclosure for this sale is available in the SEC filing. 5.37% of the stock is owned by insiders.

Institutional Trading of Bel Fuse

Institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its stake in Bel Fuse by 74.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 834,261 shares of the electronics maker's stock valued at $141,517,000 after buying an additional 355,563 shares during the period. Fisher Asset Management LLC acquired a new position in shares of Bel Fuse during the 4th quarter worth $42,680,000. Wasatch Advisors LP grew its stake in shares of Bel Fuse by 74.3% during the 4th quarter. Wasatch Advisors LP now owns 410,487 shares of the electronics maker's stock worth $69,631,000 after purchasing an additional 174,969 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of Bel Fuse by 45.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 519,005 shares of the electronics maker's stock worth $88,039,000 after purchasing an additional 161,736 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Bel Fuse by 1,345.9% during the 4th quarter. JPMorgan Chase & Co. now owns 143,361 shares of the electronics maker's stock worth $24,318,000 after purchasing an additional 133,446 shares during the period. Hedge funds and other institutional investors own 58.39% of the company's stock.

Bel Fuse Stock Performance

The company has a current ratio of 3.02, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 65.47, a PEG ratio of 2.62 and a beta of 1.56. The stock's 50 day moving average price is $224.33 and its two-hundred day moving average price is $193.27.

Bel Fuse Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.1%. Bel Fuse's dividend payout ratio is 6.38%.

About Bel Fuse

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.