Bel Fuse (NASDAQ:BELFB) Rating Lowered to Market Perform at Northland Securities

Bel Fuse (NASDAQ:BELFB) was downgraded by stock analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a report released on Thursday, Marketbeat.com reports. They currently have a $63.00 price objective on the electronics maker’s stock. Northland Securities’ target price would suggest a potential upside of 8.55% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. StockNews.com raised Bel Fuse from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Needham & Company LLC reduced their price target on Bel Fuse from $70.00 to $68.00 and set a “buy” rating for the company in a report on Monday, April 29th.

Bel Fuse Stock Performance

Shares of BELFB stock traded down $0.53 on Thursday, hitting $58.04. The company had a trading volume of 89,166 shares, compared to its average volume of 86,174. Bel Fuse has a twelve month low of $39.13 and a twelve month high of $74.75. The company has a quick ratio of 2.70, a current ratio of 4.21 and a debt-to-equity ratio of 0.17. The firm has a market cap of $740.59 million, a P/E ratio of 9.77 and a beta of 1.46. The company has a 50-day moving average price of $57.67 and a 200-day moving average price of $59.00.

Bel Fuse (NASDAQ:BELFB) last posted its earnings results on Wednesday, February 21st. The electronics maker reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.07). The firm had revenue of $140.01 million for the quarter, compared to analysts’ expectations of $152.86 million. Bel Fuse had a net margin of 12.62% and a return on equity of 23.58%. As a group, equities research analysts predict that Bel Fuse will post 4.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Bel Fuse

In other Bel Fuse news, Director Vincent Vellucci sold 1,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $56.70, for a total transaction of $56,700.00. Following the completion of the transaction, 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 is available through this hyperlink. Insiders own 5.37% of the company’s stock.

Institutional Investors Weigh In On Bel Fuse

A number of large investors have recently made changes to their positions in BELFB. New York State Teachers Retirement System grew its position in 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 worth $57,000 after acquiring an additional 747 shares during the period. Toronto Dominion Bank purchased a new position in Bel Fuse in the third quarter worth approximately $48,000. Covestor Ltd grew its position in Bel Fuse by 26.5% in the third quarter. Covestor Ltd now owns 1,012 shares of the electronics maker’s stock worth $48,000 after acquiring an additional 212 shares during the period. AJOVista LLC purchased a new position in Bel Fuse in the fourth quarter worth approximately $73,000. Finally, National Bank of Canada FI purchased a new position in Bel Fuse in the fourth quarter worth approximately $78,000. 58.39% of the stock is currently owned by hedge funds and other institutional investors.

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.