Bank of New York Mellon Corp Sells 3,510 Shares of Bel Fuse Inc. (NASDAQ:BELFB)

Key Points

• Bank of New York Mellon Corp reduced its holdings in Bel Fuse Inc. by 5.7% in Q1, selling 3,510 shares, resulting in a total of 58,303 shares owned, worth approximately $4.37 million.
• Bel Fuse reported earnings of $1.35 per share for the most recent quarter, significantly surpassing the consensus estimate of $0.85, alongside revenue of $152.24 million.
• Several hedge funds increased their stakes in Bel Fuse, with Janus Henderson Group PLC raising its investment by 55.4% and Portolan Capital Management LLC increasing its stake by 72.5% in Q4.

Bank of New York Mellon Corp cut its position in Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 5.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,303 shares of the electronics maker's stock after selling 3,510 shares during the quarter. Bank of New York Mellon Corp owned 0.46% of Bel Fuse worth $4,365,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BELFB. Principal Financial Group Inc. increased its position in Bel Fuse by 4.5% during the 1st quarter. Principal Financial Group Inc. now owns 4,411 shares of the electronics maker's stock worth $330,000 after purchasing an additional 189 shares in the last quarter. Russell Investments Group Ltd. increased its position in Bel Fuse by 0.6% in the 4th quarter. Russell Investments Group Ltd. now owns 38,617 shares of the electronics maker's stock valued at $3,185,000 after acquiring an additional 215 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Bel Fuse by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,887 shares of the electronics maker's stock valued at $486,000 after acquiring an additional 234 shares during the period. Sterling Capital Management LLC increased its position in Bel Fuse by 4.5% in the 4th quarter. Sterling Capital Management LLC now owns 6,891 shares of the electronics maker's stock valued at $568,000 after acquiring an additional 295 shares during the period. Finally, Bridgeway Capital Management LLC increased its position in Bel Fuse by 4.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 11,506 shares of the electronics maker's stock valued at $949,000 after acquiring an additional 523 shares during the period. 58.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BELFB has been the topic of several research reports. Northland Securities upped their price objective on shares of Bel Fuse from $93.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, June 30th. Robert W. Baird initiated coverage on shares of Bel Fuse in a research report on Tuesday, June 10th. They set an "outperform" rating and a $88.00 target price for the company. Wall Street Zen upgraded shares of Bel Fuse from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Oppenheimer set a $125.00 target price on shares of Bel Fuse and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Needham & Company LLC increased their target price on shares of Bel Fuse from $116.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday. Five equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $113.60.

Insider Activity 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 directly owned 12,155 shares of the company's stock, valued at $1,021,384.65. The trade was a 24.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.37% of the company's stock.

Bel Fuse Price Performance

BELFB traded up $1.30 on Tuesday, reaching $128.05. The company had a trading volume of 20,824 shares, compared to its average volume of 112,209. The business has a 50 day simple moving average of $90.39 and a 200 day simple moving average of $81.04. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 31.29, a P/E/G ratio of 1.70 and a beta of 1.51. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.72 and a current ratio of 3.05. Bel Fuse Inc. has a 52-week low of $57.99 and a 52-week high of $128.00.

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.