Bel Fuse (NASDAQ:BELFB) Trading Up 7% Following Analyst Upgrade

Key Points

• Bel Fuse shares jumped 7% after JPMorgan raised its price target from $370 to $380 while maintaining an overweight rating. The stock reached $283.65 but trading volume was 87% below its average.
• Analyst sentiment remains broadly positive, with seven Buy ratings, one Hold and one Sell; the consensus rating is Moderate Buy with an average price target of $324.
• Institutional ownership stands at 58.39%, with major investors including T. Rowe Price, Wasatch Advisors and Janus Henderson increasing their positions in recent quarters.

Bel Fuse Inc. (NASDAQ:BELFB - Get Free Report)'s share price shot up 7% on Friday after JPMorgan Chase & Co. raised their price target on the stock from $370.00 to $380.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Bel Fuse traded as high as $283.65 and last traded at $271.1360. 30,554 shares were traded during trading, a decline of 87% from the average session volume of 238,626 shares. The stock had previously closed at $253.41.

A number of other equities research analysts have also weighed in on BELFB. Bank of America started coverage on shares of Bel Fuse in a report on Tuesday, July 14th. They issued a "buy" rating and a $330.00 price objective for the company. Zacks Research lowered shares of Bel Fuse from a "hold" rating to a "strong sell" rating in a report on Monday, July 6th. Needham & Company LLC lifted their target price on shares of Bel Fuse from $250.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Northland Securities set a $326.00 price target on shares of Bel Fuse in a research note on Friday. Finally, Robert W. Baird set a $293.00 price target on shares of Bel Fuse in a research report on Friday, May 1st. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $324.00.

Institutional Trading of Bel Fuse

A number of institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Bel Fuse by 74.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 834,261 shares of the electronics maker's stock worth $141,517,000 after buying an additional 355,563 shares during the period. Fisher Asset Management LLC purchased a new stake in Bel Fuse during the 4th quarter valued at $42,680,000. Wasatch Advisors LP boosted its position in Bel Fuse by 74.3% during the 4th quarter. Wasatch Advisors LP now owns 410,487 shares of the electronics maker's stock valued at $69,631,000 after buying an additional 174,969 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in Bel Fuse by 45.3% in 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 acquiring an additional 161,736 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Bel Fuse by 22.7% in the 1st quarter. Janus Henderson Group PLC now owns 760,141 shares of the electronics maker's stock worth $150,587,000 after acquiring an additional 140,804 shares during the last quarter. Hedge funds and other institutional investors own 58.39% of the company's stock.

Bel Fuse Price Performance

The business's 50-day simple moving average is $280.28 and its 200-day simple moving average is $246.39. The stock has a market cap of $3.52 billion, a PE ratio of 66.49, a PEG ratio of 2.51 and a beta of 1.68. The company has a quick ratio of 1.73, a current ratio of 3.18 and a debt-to-equity ratio of 0.47.

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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