Needham & Company LLC Boosts Bel Fuse (NASDAQ:BELFB) Price Target to $300.00

Key Points

• Needham & Company raised its price target on Bel Fuse from $250 to $300 and kept a "buy" rating, implying roughly a 10.9% upside from the current share price.
• BELFB shares jumped 4.8% to $270.57 on the day, with a market cap of $3.43 billion and an elevated valuation (P/E ~53.9), reflecting strong recent momentum but rich multiples.
• Insider selling was notable: CEO Farouq Salem Ali Tuweiq sold 33,967 shares for about $7.95 million and a director sold 4,500 shares; insiders now own 5.37% while institutional investors hold ~58.4%.

Bel Fuse (NASDAQ:BELFB - Get Free Report) had its price target lifted by investment analysts at Needham & Company LLC from $250.00 to $300.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the electronics maker's stock. Needham & Company LLC's price objective would indicate a potential upside of 10.88% from the stock's current price.

A number of other equities analysts have also commented on the stock. Northland Securities set a $266.00 price objective on shares of Bel Fuse in a report on Thursday, February 19th. Weiss Ratings lowered Bel Fuse from a "buy (b-)" rating to a "hold (c)" rating in a research report on Wednesday, February 25th. Wall Street Zen lowered Bel Fuse from a "buy" rating to a "hold" rating in a research report on Monday, March 16th. Finally, Zacks Research lowered Bel Fuse from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 2nd. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Bel Fuse presently has a consensus rating of "Moderate Buy" and a consensus target price of $229.00.

Bel Fuse Stock Up 4.8%

BELFB stock traded up $12.31 during trading on Thursday, reaching $270.57. The stock had a trading volume of 233,000 shares, compared to its average volume of 179,694. Bel Fuse has a 1-year low of $65.90 and a 1-year high of $278.42. The company has a current ratio of 3.02, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $3.43 billion, a P/E ratio of 53.88, a PEG ratio of 2.55 and a beta of 1.56. The firm has a fifty day moving average price of $223.42 and a 200 day moving average price of $192.69.

Insider Activity at Bel Fuse

In other Bel Fuse news, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $234.00, for a total value of $7,948,278.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Peter E. Gilbert sold 4,500 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $238.75, for a total value of $1,074,375.00. Following the completion of the sale, the director directly owned 15,047 shares in the company, valued at $3,592,471.25. This represents a 23.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 5.37% of the company's stock.

Institutional Investors Weigh In On Bel Fuse

Large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its holdings in shares of Bel Fuse by 365.6% during the fourth quarter. Farther Finance Advisors LLC now owns 149 shares of the electronics maker's stock valued at $25,000 after buying an additional 117 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Bel Fuse during the fourth quarter valued at approximately $33,000. Jones Financial Companies Lllp raised its holdings in shares of Bel Fuse by 139.8% during the third quarter. Jones Financial Companies Lllp now owns 259 shares of the electronics maker's stock valued at $37,000 after buying an additional 151 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Bel Fuse by 52.5% during the third quarter. Federated Hermes Inc. now owns 334 shares of the electronics maker's stock valued at $47,000 after buying an additional 115 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in shares of Bel Fuse during the third quarter valued at approximately $78,000. 58.39% of the stock is owned by institutional investors and hedge funds.

About Bel Fuse

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.