Victory Capital Management Inc. Decreases Stock Holdings in Bel Fuse Inc. (NASDAQ:BELFB)

Key Points

• Victory Capital Management Inc. reduced its stake in Bel Fuse Inc. by 13.8%, now owning approximately $2.53 million worth of shares.
• Bel Fuse's stock price rose 5.8% and the company's average target price from analysts is $113.60, with multiple firms issuing strong buy ratings.
• Insider trading activity includes VP Kenneth Koon Keung Lai selling 4,000 shares at an average price of $84.03, indicating a 24.76% decrease in his ownership.

Victory Capital Management Inc. lowered its stake in Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 13.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,793 shares of the electronics maker's stock after selling 5,388 shares during the period. Victory Capital Management Inc. owned approximately 0.27% of Bel Fuse worth $2,530,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Janus Henderson Group PLC lifted its stake in shares of Bel Fuse by 55.4% in the 4th quarter. Janus Henderson Group PLC now owns 398,123 shares of the electronics maker's stock valued at $32,821,000 after purchasing an additional 141,951 shares during the period. Advisory Research Inc. lifted its stake in shares of Bel Fuse by 27.4% in the 4th quarter. Advisory Research Inc. now owns 313,446 shares of the electronics maker's stock valued at $25,850,000 after purchasing an additional 67,460 shares during the period. Geode Capital Management LLC raised its stake in Bel Fuse by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 292,020 shares of the electronics maker's stock worth $24,088,000 after buying an additional 2,722 shares during the period. Bessemer Group Inc. acquired a new stake in Bel Fuse during the 1st quarter worth $19,007,000. Finally, Portolan Capital Management LLC raised its stake in Bel Fuse by 72.5% during the 4th quarter. Portolan Capital Management LLC now owns 208,470 shares of the electronics maker's stock worth $17,193,000 after buying an additional 87,612 shares during the period. 58.39% of the stock is currently owned by institutional investors.

Bel Fuse Trading Down 1.3%

NASDAQ:BELFB traded down $1.64 during trading hours on Friday, reaching $128.41. The company's stock had a trading volume of 76,118 shares, compared to its average volume of 114,589. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 31.47, a PEG ratio of 1.73 and a beta of 1.51. Bel Fuse Inc. has a 1 year low of $57.99 and a 1 year high of $131.68. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.72 and a current ratio of 3.05. The firm has a 50-day simple moving average of $93.70 and a 200-day simple moving average of $82.06.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BELFB shares. Needham & Company LLC increased their target price on Bel Fuse from $116.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Oppenheimer set a $125.00 price target on shares of Bel Fuse and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Robert W. Baird assumed coverage on shares of Bel Fuse in a research report on Tuesday, June 10th. They issued an "outperform" rating and a $88.00 price target for the company. Northland Securities lifted their price objective on shares of Bel Fuse from $93.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, June 30th. Finally, Wall Street Zen raised shares of Bel Fuse from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Five investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $113.60.

Insider Buying and Selling at Bel Fuse

In related news, VP Kenneth Koon Keung Lai sold 4,000 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $84.03, for a total transaction of $336,120.00. Following the sale, the vice president 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.37% of the company's stock.

Bel Fuse Profile

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.