Bel Fuse (NASDAQ:BELFB) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Bel Fuse has been upgraded to a "strong-buy" rating by Wall Street Zen, highlighting increased investor confidence in the company.
• Several analysts have raised their price targets for Bel Fuse, with Northland Securities setting a target of $110.00 and Needham & Company raising theirs to $130.00.
• Bel Fuse reported a quarterly earnings of $1.35 EPS, exceeding expectations and reflecting strong revenue growth compared to previous estimates.

Bel Fuse (NASDAQ:BELFB - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday.

BELFB has been the subject of several other research reports. Northland Securities boosted their target price on Bel Fuse from $93.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, June 30th. Oppenheimer set a $125.00 target price on Bel Fuse and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Needham & Company LLC lifted their price target on Bel Fuse from $116.00 to $130.00 and gave the company a "buy" rating in a research report on Friday. Baird R W raised Bel Fuse to a "strong-buy" rating in a research report on Tuesday, June 10th. Finally, Robert W. Baird started coverage on Bel Fuse in a research report on Tuesday, June 10th. They set an "outperform" rating and a $88.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $113.60.

Bel Fuse Price Performance

NASDAQ:BELFB traded up $16.86 during trading hours on Friday, hitting $119.84. 364,814 shares of the stock traded hands, compared to its average volume of 158,611. The stock has a 50 day moving average price of $89.36 and a 200 day moving average price of $80.68. Bel Fuse has a 1 year low of $57.99 and a 1 year high of $122.70. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 29.37, a price-to-earnings-growth ratio of 1.46 and a beta of 1.51. The company has a quick ratio of 1.83, a current ratio of 3.31 and a debt-to-equity ratio of 0.76.

Bel Fuse (NASDAQ:BELFB - Get Free Report) last announced its earnings results on Thursday, April 24th. The electronics maker reported $1.35 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.50. Bel Fuse had a net margin of 8.59% and a return on equity of 14.47%. The business had revenue of $152.24 million during the quarter, compared to the consensus estimate of $147.93 million. Sell-side analysts forecast that Bel Fuse will post 4.63 EPS for the current fiscal year.

Insider Buying and Selling at Bel Fuse

In related news, VP Kenneth Koon Keung Lai sold 4,000 shares of Bel Fuse stock in a transaction on Friday, June 13th. The shares were 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 in the company, valued at $1,021,384.65. This trade represents a 24.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.37% of the company's stock.

Hedge Funds Weigh In On Bel Fuse

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC increased its holdings in shares of Bel Fuse by 147.1% during 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 in the last quarter. Ameritas Advisory Services LLC bought a new position in Bel Fuse during the second quarter valued at approximately $50,000. KLP Kapitalforvaltning AS purchased a new stake in Bel Fuse during the fourth quarter valued at approximately $148,000. ProShare Advisors LLC purchased a new stake in Bel Fuse during the fourth quarter valued at approximately $240,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Bel Fuse by 40.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,959 shares of the electronics maker's stock valued at $222,000 after purchasing an additional 854 shares during the period. Hedge funds and other institutional investors own 58.39% of the company's stock.

About Bel Fuse

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.