Bel Fuse (NASDAQ:BELFB – Free Report) had its price target hoisted by Needham & Company LLC from $68.00 to $79.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the electronics maker’s stock.
A number of other research firms have also weighed in on BELFB. Northland Securities lowered Bel Fuse from an outperform rating to a market perform rating and set a $63.00 price objective for the company. in a research note on Thursday, May 2nd. StockNews.com lowered shares of Bel Fuse from a buy rating to a hold rating in a report on Wednesday, July 24th.
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Bel Fuse Trading Down 0.9 %
Bel Fuse (NASDAQ:BELFB – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.58. The firm had revenue of $133.21 million during the quarter, compared to analyst estimates of $130.27 million. Bel Fuse had a net margin of 11.81% and a return on equity of 20.97%. During the same period in the previous year, the business posted $1.95 EPS. Research analysts forecast that Bel Fuse will post 4.39 EPS for the current fiscal year.
Hedge Funds Weigh In On Bel Fuse
Hedge funds and other institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC raised its stake in Bel Fuse by 4.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,700 shares of the electronics maker’s stock worth $314,000 after buying an additional 200 shares in the last quarter. Beach Investment Counsel Inc. PA bought a new position in shares of Bel Fuse in the 2nd quarter worth approximately $25,000. Comerica Bank lifted its stake in shares of Bel Fuse by 223.7% in the 1st quarter. Comerica Bank now owns 738 shares of the electronics maker’s stock valued at $45,000 after purchasing an additional 510 shares during the period. Investors Asset Management of Georgia Inc. GA ADV boosted its position in shares of Bel Fuse by 1.1% during the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 55,464 shares of the electronics maker’s stock valued at $3,693,000 after purchasing an additional 619 shares in the last quarter. Finally, New York State Teachers Retirement System grew its stake 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 purchasing an additional 747 shares during the period. 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.
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