Weiss Ratings Reaffirms "Buy (B-)" Rating for Bel Fuse (NASDAQ:BELFB)

Key Points

• Weiss Ratings has reaffirmed a "Buy (B-)" rating for Bel Fuse, indicating a positive outlook from the analysts.
• Several firms have raised their target prices for Bel Fuse, with Oppenheimer increasing it from $140 to $175, reflecting strong demand.
• Bel Fuse's stock price recently rose to $146.89, with a year-to-date price range between $57.99 and $152.45, showcasing significant volatility.

Bel Fuse (NASDAQ:BELFB - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by stock analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other research analysts have also recently issued reports about the stock. Northland Securities raised their target price 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. Needham & Company LLC raised their target price on shares of Bel Fuse from $116.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Wall Street Zen raised shares of Bel Fuse from a "buy" rating to a "strong-buy" rating in a research report on Monday. Oppenheimer increased their price target on shares of Bel Fuse from $140.00 to $175.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 16th. Finally, Robert W. Baird increased their price target on shares of Bel Fuse from $130.00 to $154.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to MarketBeat.com, Bel Fuse currently has an average rating of "Buy" and an average target price of $136.80.

Bel Fuse Price Performance

Shares of NASDAQ:BELFB traded up $5.64 during trading hours on Wednesday, hitting $146.89. 207,896 shares of the company's stock traded hands, compared to its average volume of 118,206. Bel Fuse has a 52 week low of $57.99 and a 52 week high of $152.45. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.72 and a current ratio of 3.05. The company's fifty day simple moving average is $137.95 and its two-hundred day simple moving average is $101.38. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 36.00, a price-to-earnings-growth ratio of 1.72 and a beta of 1.55.

Insider Activity at Bel Fuse

In other news, VP Kenneth Koon Keung Lai sold 1,900 shares of Bel Fuse stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $128.00, for a total value of $243,200.00. Following the sale, the vice president directly owned 10,255 shares in the company, valued at approximately $1,312,640. This trade represents a 15.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Dawson sold 1,200 shares of Bel Fuse stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $127.07, for a total value of $152,484.00. Following the completion of the sale, the insider owned 14,265 shares in the company, valued at approximately $1,812,653.55. This represents a 7.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BELFB. Vanguard Group Inc. raised its stake in shares of Bel Fuse by 1.4% in the first quarter. Vanguard Group Inc. now owns 917,097 shares of the electronics maker's stock worth $68,654,000 after purchasing an additional 12,808 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Bel Fuse by 1.5% in the first quarter. American Century Companies Inc. now owns 357,131 shares of the electronics maker's stock worth $26,735,000 after purchasing an additional 5,376 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Bel Fuse by 28.3% in the second quarter. Bessemer Group Inc. now owns 325,800 shares of the electronics maker's stock worth $31,827,000 after purchasing an additional 71,895 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Bel Fuse by 2.6% in the second quarter. Geode Capital Management LLC now owns 321,922 shares of the electronics maker's stock worth $31,451,000 after purchasing an additional 8,243 shares during the last quarter. Finally, Wasatch Advisors LP increased its position in Bel Fuse by 33.6% during the second quarter. Wasatch Advisors LP now owns 284,014 shares of the electronics maker's stock valued at $27,745,000 after acquiring an additional 71,390 shares during the last quarter. 58.39% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.