Bel Fuse (NASDAQ:BELFB) Downgraded by Zacks Research to “Strong Sell”

Bel Fuse (NASDAQ:BELFB) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday, Zacks reports.

Other equities research analysts also recently issued research reports about the company. Northland Securities set a $326.00 target price on Bel Fuse in a report on Friday, July 31st. Weiss Ratings downgraded shares of Bel Fuse from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. JPMorgan Chase & Co. boosted their target price on shares of Bel Fuse from $370.00 to $380.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Wall Street Zen raised Bel Fuse from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Bank of America began coverage on Bel Fuse in a research note on Tuesday, July 14th. They set a “buy” rating and a $330.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $324.00.

Bel Fuse Trading Down 1.0%

NASDAQ:BELFB opened at $245.48 on Monday. The company has a market capitalization of $3.54 billion, a P/E ratio of 59.29, a PEG ratio of 2.67 and a beta of 1.71. Bel Fuse has a 12 month low of $129.94 and a 12 month high of $335.29. The firm has a fifty day simple moving average of $260.19 and a 200-day simple moving average of $260.12.

Insider Transactions at Bel Fuse

In related news, Director Peter E. Gilbert sold 500 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $292.12, for a total value of $146,060.00. Following the completion of the transaction, the director owned 750 shares of the company’s stock, valued at approximately $219,090. This represents a 40.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Vincent Vellucci sold 1,000 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $235.15, for a total value of $235,150.00. Following the transaction, the director owned 7,434 shares in the company, valued at $1,748,105.10. This represents a 11.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,893 shares of company stock worth $476,949 over the last 90 days. Insiders own 5.37% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its position in shares of Bel Fuse by 20.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 286 shares of the electronics maker’s stock worth $57,000 after purchasing an additional 48 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Bel Fuse by 1.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 4,782 shares of the electronics maker’s stock worth $947,000 after buying an additional 50 shares during the last quarter. Bank of America Corp DE increased 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 worth $2,049,000 after buying an additional 89 shares in the last quarter. Strs Ohio increased its stake in Bel Fuse by 5.6% during the 1st quarter. Strs Ohio now owns 1,900 shares of the electronics maker’s stock worth $376,000 after buying an additional 100 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of Bel Fuse during the first quarter valued at approximately $30,000. 58.39% of the stock is owned by institutional investors and hedge funds.

Bel Fuse Company Profile

Bel Fuse Inc is a designer, manufacturer and supplier of products used to protect, power and connect electronic circuits. The company serves original equipment manufacturers, contract manufacturers and distributors across a range of industries, including telecommunications, networking, computing, consumer electronics, automotive, industrial, medical, aerospace and defense.

Bel Fuse’s product portfolio includes circuit protection devices, connectors, cable assemblies, discrete components, magnetics, power supplies, power conversion products and related modules.