Needham & Company LLC Forecasts Strong Price Appreciation for Bel Fuse (NASDAQ:BELFB) Stock

Bel Fuse (NASDAQ:BELFB) had its price objective boosted by Needham & Company LLC from $79.00 to $95.00 in a research note issued to investors on Monday,Benzinga reports. Needham & Company LLC currently has a buy rating on the electronics maker’s stock.

A number of other research analysts also recently weighed in on the stock. Northland Capmk raised shares of Bel Fuse from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 5th. StockNews.com cut shares of Bel Fuse from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 2nd. Finally, Northland Securities increased their price target on shares of Bel Fuse from $80.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st.

Bel Fuse Stock Up 2.1 %

Bel Fuse stock opened at $75.33 on Monday. The company has a market cap of $945.39 million, a P/E ratio of 17.17 and a beta of 1.35. Bel Fuse has a 1-year low of $45.74 and a 1-year high of $85.91. The company has a fifty day simple moving average of $77.98 and a 200 day simple moving average of $70.16. The company has a current ratio of 4.00, a quick ratio of 2.71 and a debt-to-equity ratio of 0.16.

Bel Fuse Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Wednesday, January 15th. Bel Fuse’s dividend payout ratio is currently 6.42%.

Institutional Trading of Bel Fuse

A number of hedge funds have recently modified their holdings of BELFB. BNP Paribas Financial Markets lifted its stake in shares of Bel Fuse by 73.5% during the 1st quarter. BNP Paribas Financial Markets now owns 5,862 shares of the electronics maker’s stock worth $354,000 after buying an additional 2,484 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Bel Fuse in the 1st quarter worth about $1,532,000. Paragon Associates & Paragon Associates II Joint Venture acquired a new stake in Bel Fuse in the 1st quarter worth about $3,619,000. Truvestments Capital LLC acquired a new stake in Bel Fuse in the 1st quarter worth about $407,000. Finally, Comerica Bank raised its stake in Bel Fuse by 223.7% in the 1st quarter. Comerica Bank now owns 738 shares of the electronics maker’s stock worth $45,000 after purchasing an additional 510 shares in the last quarter. 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 power, protect, and connect electronic circuits. The company’s products are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries.