Bel Fuse (NASDAQ:BELFB) PT Lowered to $68.00 at Needham & Company LLC

Bel Fuse (NASDAQ:BELFB) had its target price lowered by Needham & Company LLC from $70.00 to $68.00 in a research note published on Monday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the electronics maker’s stock.

Other analysts also recently issued reports about the stock. StockNews.com upgraded shares of Bel Fuse from a hold rating to a buy rating in a research report on Friday, April 26th. Northland Securities started coverage on shares of Bel Fuse in a research note on Thursday, January 11th. They issued an outperform rating and a $83.00 target price for the company.

Bel Fuse Stock Performance

Shares of NASDAQ:BELFB opened at $58.49 on Monday. The company has a current ratio of 4.21, a quick ratio of 2.70 and a debt-to-equity ratio of 0.17. Bel Fuse has a 1-year low of $39.13 and a 1-year high of $74.75. The stock has a market capitalization of $746.33 million, a P/E ratio of 9.85 and a beta of 1.45. The business has a 50-day moving average price of $57.34 and a two-hundred day moving average price of $58.91.

Bel Fuse (NASDAQ:BELFB) last posted its quarterly earnings results on Wednesday, February 21st. The electronics maker reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.07). Bel Fuse had a return on equity of 23.58% and a net margin of 12.62%. The business had revenue of $140.01 million for the quarter, compared to the consensus estimate of $152.86 million. Equities analysts predict that Bel Fuse will post 4.7 earnings per share for the current year.

Bel Fuse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Friday, April 12th. Bel Fuse’s dividend payout ratio (DPR) is presently 4.71%.

Insider Activity at Bel Fuse

In other news, Director Vincent Vellucci sold 1,000 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $56.70, for a total transaction of $56,700.00. Following the completion of the sale, the director now owns 7,392 shares of the company’s stock, valued at $419,126.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.37% of the stock is owned by insiders.

Institutional Trading of Bel Fuse

A number of institutional investors have recently made changes to their positions in the business. New York State Teachers Retirement System lifted its position 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 worth $57,000 after buying an additional 747 shares in the last quarter. Toronto Dominion Bank bought a new stake in Bel Fuse during the third quarter worth about $48,000. Covestor Ltd boosted its position in Bel Fuse by 26.5% during the third quarter. Covestor Ltd now owns 1,012 shares of the electronics maker’s stock valued at $48,000 after purchasing an additional 212 shares during the last quarter. AJOVista LLC bought a new position in Bel Fuse in the fourth quarter valued at approximately $73,000. Finally, National Bank of Canada FI acquired a new position in shares of Bel Fuse during the 4th quarter worth approximately $78,000. Institutional investors own 58.39% of the company’s stock.

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.