Needham & Company LLC Raises Bel Fuse (NASDAQ:BELFB) Price Target to $95.00

Bel Fuse (NASDAQ:BELFB) had its price objective increased by equities research analysts at Needham & Company LLC from $79.00 to $95.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the electronics maker’s stock. Needham & Company LLC’s price objective suggests a potential upside of 27.41% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. StockNews.com lowered shares of Bel Fuse from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 2nd. Northland Capmk upgraded Bel Fuse from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 5th. Finally, Northland Securities upped their target price on Bel Fuse from $80.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st.

Bel Fuse Stock Down 2.1 %

NASDAQ:BELFB opened at $74.56 on Monday. The business’s fifty day moving average price is $77.64 and its 200 day moving average price is $69.87. The firm has a market capitalization of $935.73 million, a price-to-earnings ratio of 17.10 and a beta of 1.35. 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 has a 1-year low of $45.74 and a 1-year high of $85.91.

Institutional Investors Weigh In On Bel Fuse

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its stake in Bel Fuse by 1.3% in the 2nd quarter. Renaissance Technologies LLC now owns 309,851 shares of the electronics maker’s stock valued at $20,215,000 after buying an additional 4,027 shares during the last quarter. Geode Capital Management LLC increased its position in Bel Fuse by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 289,298 shares of the electronics maker’s stock worth $22,716,000 after buying an additional 6,250 shares during the period. American Century Companies Inc. lifted its holdings in shares of Bel Fuse by 11.6% during the second quarter. American Century Companies Inc. now owns 276,265 shares of the electronics maker’s stock worth $18,024,000 after buying an additional 28,649 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Bel Fuse by 11.1% in the 3rd quarter. Janus Henderson Group PLC now owns 256,172 shares of the electronics maker’s stock valued at $20,109,000 after purchasing an additional 25,607 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Bel Fuse by 7.2% during the third quarter. Thrivent Financial for Lutherans now owns 179,503 shares of the electronics maker’s stock worth $14,093,000 after purchasing an additional 12,007 shares during the period. Institutional investors and hedge funds own 58.39% of the company’s stock.

About Bel Fuse

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.