Bel Fuse (NASDAQ:BELFB) Upgraded to Hold at Zacks Research

Key Points

• Zacks Research upgraded Bel Fuse from “strong sell” to “hold,” while broader analyst sentiment remains positive, with seven Buy ratings and two Holds producing a “Moderate Buy” consensus and a $324 price target.
• Bel Fuse shares opened at $294.01, down 2.2%, with a market capitalization of approximately $3.74 billion and a 52-week range of $124.42 to $335.29.
• Institutional investors own 58.39% of the company, with several firms—including Tema ETFs, Wasatch Advisors and Janus Henderson—recently increasing their holdings.

Bel Fuse (NASDAQ:BELFB - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms have also recently weighed in on BELFB. Northland Securities set a $326.00 price target on Bel Fuse in a report on Friday, July 31st. Citigroup initiated coverage on Bel Fuse in a report on Monday, July 13th. They issued a "buy" rating for the company. Needham & Company LLC raised their target price on Bel Fuse from $250.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Bank of America assumed coverage on Bel Fuse in a research note on Tuesday, July 14th. They set a "buy" rating and a $330.00 target price on the stock. Finally, B. Riley Financial initiated coverage on Bel Fuse in a research report on Tuesday, July 14th. They set a "buy" rating for the company. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $324.00.

Bel Fuse Stock Down 2.2%

BELFB stock opened at $294.01 on Tuesday. The company has a quick ratio of 3.20, a current ratio of 4.48 and a debt-to-equity ratio of 0.47. Bel Fuse has a fifty-two week low of $124.42 and a fifty-two week high of $335.29. The firm's 50-day simple moving average is $281.18 and its 200 day simple moving average is $249.00. The stock has a market cap of $3.74 billion, a PE ratio of 71.02, a price-to-earnings-growth ratio of 3.19 and a beta of 1.72.

Institutional Trading of Bel Fuse

Hedge funds and other institutional investors have recently modified their holdings of the company. Tema ETFs LLC boosted its holdings in Bel Fuse by 52.2% during the second quarter. Tema ETFs LLC now owns 202,849 shares of the electronics maker's stock worth $67,557,000 after buying an additional 69,531 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Bel Fuse by 2.2% during the 2nd quarter. Wasatch Advisors LP now owns 489,414 shares of the electronics maker's stock valued at $162,994,000 after acquiring an additional 10,705 shares during the last quarter. Argent Capital Management LLC acquired a new stake in shares of Bel Fuse during the 1st quarter valued at $558,000. Bank of America Corp DE lifted its position in shares of Bel Fuse by 0.9% during the 1st quarter. Bank of America Corp DE now owns 10,348 shares of the electronics maker's stock valued at $2,049,000 after acquiring an additional 89 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Bel Fuse by 22.7% during 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 in the last quarter. Institutional investors own 58.39% of the company's stock.

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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