Needham & Company LLC Raises Bel Fuse (NASDAQ:BELFB) Price Target to $79.00

Bel Fuse (NASDAQ:BELFB) had its price target raised by Needham & Company LLC from $68.00 to $79.00 in a research note released on Friday morning, Benzinga reports. They currently have a buy rating on the electronics maker’s stock.

BELFB has been the topic of several other reports. Northland Securities lowered shares of Bel Fuse from an outperform rating to a market perform rating and set a $63.00 price objective on the stock. in a research note on Thursday, May 2nd. StockNews.com cut Bel Fuse from a buy rating to a hold rating in a report on Wednesday, July 24th.

Bel Fuse Trading Down 0.9 %

NASDAQ:BELFB opened at $74.39 on Friday. The company has a market cap of $938.80 million, a P/E ratio of 12.52 and a beta of 1.42. Bel Fuse has a twelve month low of $39.13 and a twelve month high of $76.09. The business has a 50 day moving average price of $67.03 and a two-hundred day moving average price of $63.42. The company has a quick ratio of 2.76, a current ratio of 4.19 and a debt-to-equity ratio of 0.17.

Bel Fuse (NASDAQ:BELFB) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.50 EPS for the quarter, topping the consensus estimate of $0.92 by $0.58. The firm had revenue of $133.21 million for the quarter, compared to analysts’ expectations of $130.27 million. Bel Fuse had a net margin of 11.81% and a return on equity of 20.97%. During the same period in the previous year, the firm posted $1.95 EPS. As a group, analysts expect that Bel Fuse will post 4.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Bel Fuse

A number of hedge funds and other institutional investors have recently made changes to their positions in BELFB. Vanguard Group Inc. raised its stake in Bel Fuse by 4.8% in the third quarter. Vanguard Group Inc. now owns 676,723 shares of the electronics maker’s stock valued at $32,293,000 after purchasing an additional 30,752 shares in the last quarter. LSV Asset Management increased its holdings in Bel Fuse by 15.8% in the 4th quarter. LSV Asset Management now owns 249,900 shares of the electronics maker’s stock valued at $16,686,000 after buying an additional 34,100 shares during the period. GW&K Investment Management LLC acquired a new position in shares of Bel Fuse in the 4th quarter valued at approximately $12,537,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Bel Fuse by 26.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 99,716 shares of the electronics maker’s stock worth $6,658,000 after acquiring an additional 21,047 shares during the period. Finally, Ophir Asset Management Pty Ltd acquired a new stake in shares of Bel Fuse during the 4th quarter worth approximately $6,572,000. 58.39% of the stock is currently owned by institutional investors and hedge funds.

Bel Fuse Company Profile

Bel Fuse Inc designs, manufactures, markets, and sells products that are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries in the United States, the People's Republic of China, Macao, the United Kingdom, Slovakia, Germany, India, Switzerland, and internationally.