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

Bel Fuse (NASDAQ:BELFB) had its price objective increased by Needham & Company LLC from $68.00 to $79.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a buy rating on the electronics maker’s stock.

A number of other analysts also recently weighed in on BELFB. Northland Securities downgraded Bel Fuse from an outperform rating to a market perform rating and set a $63.00 price target on the stock. in a research note on Thursday, May 2nd. StockNews.com lowered shares of Bel Fuse from a buy rating to a hold rating in a research report on Wednesday.

Bel Fuse Stock Performance

Shares of BELFB stock opened at $75.05 on Friday. Bel Fuse has a 52-week low of $39.13 and a 52-week high of $75.63. The stock’s 50-day moving average price is $66.87 and its 200 day moving average price is $63.30. The company has a quick ratio of 2.70, a current ratio of 4.19 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $947.13 million, a PE ratio of 12.63 and a beta of 1.41.

Bel Fuse (NASDAQ:BELFB) last released 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. Bel Fuse had a return on equity of 20.97% and a net margin of 11.81%. The business had revenue of $133.21 million during the quarter, compared to analysts’ expectations of $130.27 million. During the same quarter in the prior year, the business earned $1.95 earnings per share. As a group, equities research analysts forecast that Bel Fuse will post 4.39 EPS for the current year.

Hedge Funds Weigh In On Bel Fuse

Several hedge funds and other institutional investors have recently bought and sold shares of BELFB. Beach Investment Counsel Inc. PA purchased a new stake in shares of Bel Fuse in the second quarter valued at about $25,000. Comerica Bank lifted its stake in Bel Fuse by 223.7% in the 1st quarter. Comerica Bank now owns 738 shares of the electronics maker’s stock valued at $45,000 after buying an additional 510 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Bel Fuse by 373.5% during the 1st quarter. New York State Teachers Retirement System now owns 947 shares of the electronics maker’s stock valued at $57,000 after buying an additional 747 shares during the last quarter. AJOVista LLC purchased a new position in Bel Fuse during the fourth quarter worth $73,000. Finally, National Bank of Canada FI acquired a new position in shares of Bel Fuse in the fourth quarter worth $78,000. 58.39% of the stock is 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.