Zacks Research Upgrades Bel Fuse (NASDAQ:BELFB) to Hold

Bel Fuse (NASDAQ:BELFB) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other equities analysts have also commented on BELFB. Citigroup initiated coverage on shares of Bel Fuse in a research note on Monday, July 13th. They issued a “buy” rating for the company. Robert W. Baird set a $293.00 price target on Bel Fuse in a research report on Friday, May 1st. JPMorgan Chase & Co. raised their price objective on Bel Fuse from $370.00 to $380.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Oppenheimer reissued an “outperform” rating and issued a $315.00 price target on shares of Bel Fuse in a research report on Friday, May 1st. Finally, Weiss Ratings downgraded shares of Bel Fuse from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, July 29th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Bel Fuse presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.00.

Bel Fuse Stock Performance

Shares of BELFB opened at $294.01 on Tuesday. Bel Fuse has a one year low of $124.42 and a one year high of $335.29. The company has a 50-day moving average of $281.18 and a two-hundred day moving average of $249.00. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of 71.02, a PEG ratio of 3.19 and a beta of 1.72. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.48 and a quick ratio of 3.20.

Hedge Funds Weigh In On Bel Fuse

Several institutional investors have recently bought and sold shares of BELFB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Bel Fuse by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,127 shares of the electronics maker’s stock valued at $459,000 after acquiring an additional 240 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Bel Fuse by 1.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 9,939 shares of the electronics maker’s stock worth $971,000 after purchasing an additional 116 shares during the last quarter. Rhumbline Advisers grew its holdings in Bel Fuse by 2.5% in the 2nd 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 last quarter. Sei Investments Co. bought a new position in Bel Fuse in the 2nd quarter worth approximately $312,000. Finally, The Manufacturers Life Insurance Company increased its position in Bel Fuse by 9.3% in the 2nd 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 currently owned by institutional investors.

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.