Bel Fuse Inc. (NASDAQ:BELFB) Receives Consensus Rating of “Moderate Buy” from Brokerages

Bel Fuse Inc. (NASDAQ:BELFB) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $324.00.

Several research firms have recently commented on BELFB. Weiss Ratings lowered shares of Bel Fuse from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Zacks Research raised shares of Bel Fuse from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. JPMorgan Chase & Co. lifted their target price on Bel Fuse from $370.00 to $380.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Wall Street Zen raised Bel Fuse from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Bank of America began coverage on Bel Fuse in a research report on Tuesday, July 14th. They set a “buy” rating and a $330.00 price target on the stock.

Insiders Place Their Bets

In other Bel Fuse news, Director Peter E. Gilbert sold 500 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $292.12, for a total value of $146,060.00. Following the sale, the director directly owned 750 shares of the company’s stock, valued at $219,090. This trade represents a 40.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bel Fuse

Several hedge funds and other institutional investors have recently modified their holdings of BELFB. PNC Financial Services Group Inc. grew its position in shares of Bel Fuse by 20.2% during the first quarter. PNC Financial Services Group Inc. now owns 286 shares of the electronics maker’s stock worth $57,000 after acquiring an additional 48 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Bel Fuse by 1.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 4,782 shares of the electronics maker’s stock valued at $947,000 after purchasing an additional 50 shares during the period. Janney Montgomery Scott LLC boosted its stake in Bel Fuse by 2.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,087 shares of the electronics maker’s stock valued at $693,000 after purchasing an additional 79 shares during the period. Bank of America Corp DE boosted its stake in Bel Fuse by 0.9% during the 1st quarter. Bank of America Corp DE now owns 10,348 shares of the electronics maker’s stock valued at $2,049,000 after purchasing an additional 89 shares during the period. Finally, Strs Ohio grew its position in Bel Fuse by 5.6% in the 1st quarter. Strs Ohio now owns 1,900 shares of the electronics maker’s stock worth $376,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 58.39% of the company’s stock.

Bel Fuse Stock Performance

Shares of NASDAQ:BELFB opened at $249.27 on Tuesday. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 60.21, a price-to-earnings-growth ratio of 2.63 and a beta of 1.72. Bel Fuse has a 1-year low of $129.94 and a 1-year high of $335.29. The company’s fifty day moving average is $276.49 and its two-hundred day moving average is $256.85.

Bel Fuse Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Thursday, October 15th. Bel Fuse’s dividend payout ratio is presently 6.76%.

Bel Fuse Company Profile

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.