Bel Fuse (NASDAQ:BELFB) Price Target Raised to $79.00

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

Other analysts also recently issued research reports about the company. Northland Securities downgraded Bel Fuse from an outperform rating to a market perform rating and set a $63.00 target price on the stock. in a research note on Thursday, May 2nd. StockNews.com downgraded Bel Fuse from a buy rating to a hold rating in a research note on Wednesday, July 24th.

Bel Fuse Stock Up 2.9 %

NASDAQ BELFB opened at $75.05 on Friday. The stock’s 50-day moving average price is $66.87 and its 200-day moving average price is $63.33. The company has a quick ratio of 2.70, a current ratio of 4.19 and a debt-to-equity ratio of 0.17. Bel Fuse has a 52 week low of $39.13 and a 52 week high of $75.63. The company has a market capitalization of $947.13 million, a P/E ratio of 12.63 and a beta of 1.41.

Bel Fuse (NASDAQ:BELFB) last posted its quarterly earnings data 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 firm had revenue of $133.21 million for the quarter, compared to the consensus estimate of $130.27 million. During the same quarter last year, the company earned $1.95 earnings per share. On average, equities research analysts predict that Bel Fuse will post 4.39 earnings per share for the current year.

Hedge Funds Weigh In On Bel Fuse

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Bel Fuse by 4.8% during the 3rd quarter. Vanguard Group Inc. now owns 676,723 shares of the electronics maker’s stock valued at $32,293,000 after acquiring an additional 30,752 shares during the period. Ritholtz Wealth Management boosted its holdings in Bel Fuse by 5.1% during the 4th quarter. Ritholtz Wealth Management now owns 20,270 shares of the electronics maker’s stock valued at $1,353,000 after acquiring an additional 976 shares during the period. PFG Advisors boosted its holdings in Bel Fuse by 24.0% during the 4th quarter. PFG Advisors now owns 6,463 shares of the electronics maker’s stock valued at $432,000 after acquiring an additional 1,253 shares during the period. International Assets Investment Management LLC purchased a new position in Bel Fuse during the 4th quarter valued at $6,041,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Bel Fuse during the 4th quarter valued at $229,000. Hedge funds and other 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.