StockNews.com lowered shares of Bel Fuse (NASDAQ:BELFB – Free Report) from a buy rating to a hold rating in a research note released on Wednesday.
Several other equities analysts also recently commented on the stock. Needham & Company LLC dropped their price objective on shares of Bel Fuse from $70.00 to $68.00 and set a buy rating for the company in a research note on Monday, April 29th. Northland Securities downgraded shares of Bel Fuse from an outperform rating to a market perform rating and set a $63.00 price objective for the company. in a research note on Thursday, May 2nd.
Check Out Our Latest Report on Bel Fuse
Bel Fuse Stock Performance
Bel Fuse (NASDAQ:BELFB – Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.58. The business had revenue of $133.21 million for the quarter, compared to analyst estimates of $130.27 million. Bel Fuse had a net margin of 11.81% and a return on equity of 20.97%. During the same quarter last year, the business posted $1.95 EPS. As a group, research analysts expect that Bel Fuse will post 4.39 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Bel Fuse
Several institutional investors and hedge funds have recently added to or reduced their stakes in BELFB. Beach Investment Counsel Inc. PA bought a new position in shares of Bel Fuse during the second quarter valued at $25,000. Comerica Bank raised its stake in shares of Bel Fuse by 223.7% during the first quarter. Comerica Bank now owns 738 shares of the electronics maker’s stock valued at $45,000 after acquiring an additional 510 shares during the last quarter. New York State Teachers Retirement System raised its stake in shares of Bel Fuse by 373.5% during the first quarter. New York State Teachers Retirement System now owns 947 shares of the electronics maker’s stock valued at $57,000 after acquiring an additional 747 shares during the last quarter. AJOVista LLC bought a new position in shares of Bel Fuse during the fourth quarter valued at $73,000. Finally, National Bank of Canada FI bought a new position in shares of Bel Fuse during the fourth quarter valued at $78,000. Institutional investors own 58.39% of the company’s stock.
About Bel Fuse
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.
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