Bel Fuse (NASDAQ:BELFB) Given New $68.00 Price Target at Needham & Company LLC

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

Several other analysts also recently commented on BELFB. StockNews.com raised shares of Bel Fuse from a hold rating to a buy rating in a report on Friday. Northland Securities started coverage on shares of Bel Fuse in a report on Thursday, January 11th. They issued an outperform rating and a $83.00 price target on the stock.

Bel Fuse Price Performance

NASDAQ BELFB opened at $59.26 on Monday. The stock’s fifty day moving average price is $57.81 and its 200 day moving average price is $58.82. Bel Fuse has a 1 year low of $39.13 and a 1 year high of $74.75. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.21 and a quick ratio of 2.70. The company has a market cap of $756.16 million, a price-to-earnings ratio of 9.98 and a beta of 1.44.

Bel Fuse (NASDAQ:BELFB) last announced its quarterly earnings data 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 net margin of 12.62% and a return on equity of 23.58%. The firm had revenue of $140.01 million during the quarter, compared to analyst estimates of $152.86 million. As a group, equities research analysts forecast that Bel Fuse will post 4.7 earnings per share for the current year.

Bel Fuse Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.28 annualized dividend and a yield of 0.47%. Bel Fuse’s dividend payout ratio is presently 4.71%.

Insider Transactions at Bel Fuse

In related news, Director Vincent Vellucci sold 1,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $56.70, for a total value of $56,700.00. Following the completion of the transaction, the director now directly owns 7,392 shares in the company, valued at approximately $419,126.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.37% of the company’s stock.

Institutional Trading of Bel Fuse

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New York State Teachers Retirement System increased its position in shares of Bel Fuse by 373.5% in the first 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 in the last quarter. Toronto Dominion Bank purchased a new stake in Bel Fuse in the 3rd quarter worth $48,000. Covestor Ltd lifted its holdings 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 in the last quarter. AJOVista LLC acquired a new stake in shares of Bel Fuse in the fourth quarter valued at about $73,000. Finally, National Bank of Canada FI purchased a new stake in shares of Bel Fuse during the fourth quarter worth about $78,000. Institutional investors and hedge funds 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.