Castleark Management LLC Lowers Position in Bel Fuse Inc. $BELFB

Key Points

• Castleark Management cut its Bel Fuse stake by 50.7% in the first quarter, selling 16,790 shares and retaining 16,311 shares valued at approximately $3.23 million. Institutional investors collectively own 58.39% of BELFB.
• Bel Fuse shares opened at $270.26, with a 12-month range of $118.08 to $335.29 and a market capitalization of about $3.44 billion.
• Analysts remain broadly positive, with eight Buy ratings and one Sell rating. The stock has a consensus “Moderate Buy” rating and an average price target of $321.50.

Castleark Management LLC lessened its stake in Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 50.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,311 shares of the electronics maker's stock after selling 16,790 shares during the quarter. Castleark Management LLC owned about 0.13% of Bel Fuse worth $3,229,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Bel Fuse by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,127 shares of the electronics maker's stock worth $459,000 after purchasing an additional 240 shares during the period. JPMorgan Chase & Co. raised its holdings in Bel Fuse by 1.2% in the second quarter. JPMorgan Chase & Co. now owns 9,939 shares of the electronics maker's stock valued at $971,000 after buying an additional 116 shares during the period. Rhumbline Advisers raised its holdings in Bel Fuse by 2.5% in the second quarter. Rhumbline Advisers now owns 15,972 shares of the electronics maker's stock valued at $1,560,000 after buying an additional 383 shares during the period. Sei Investments Co. acquired a new position in Bel Fuse during the second quarter valued at approximately $312,000. Finally, The Manufacturers Life Insurance Company grew its stake in Bel Fuse by 9.3% during the second quarter. The Manufacturers Life Insurance Company now owns 3,953 shares of the electronics maker's stock worth $386,000 after buying an additional 337 shares during the period. 58.39% of the stock is owned by hedge funds and other institutional investors.

Bel Fuse Stock Performance

BELFB stock opened at $270.26 on Tuesday. The stock's 50 day simple moving average is $280.64 and its 200 day simple moving average is $245.00. Bel Fuse Inc. has a 12-month low of $118.08 and a 12-month high of $335.29. The firm has a market cap of $3.44 billion, a P/E ratio of 61.56, a P/E/G ratio of 2.83 and a beta of 1.68. The company has a current ratio of 3.18, a quick ratio of 1.73 and a debt-to-equity ratio of 0.47.

Analysts Set New Price Targets

A number of analysts recently weighed in on BELFB shares. Robert W. Baird set a $293.00 price target on shares of Bel Fuse in a research report on Friday, May 1st. Oppenheimer restated an "outperform" rating and set a $315.00 price objective on shares of Bel Fuse in a research note on Friday, May 1st. Weiss Ratings raised Bel Fuse from a "hold (c)" rating to a "buy (b-)" rating in a research report on Wednesday, May 6th. Citigroup began coverage on Bel Fuse in a research note on Monday, July 13th. They issued a "buy" rating for the company. Finally, B. Riley Financial initiated coverage on Bel Fuse in a report on Tuesday, July 14th. They set a "buy" rating on the stock. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $321.50.

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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