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

Bel Fuse (NASDAQ:BELFB - Free Report) had its target price upped by Needham & Company LLC from $79.00 to $95.00 in a report issued on Monday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the electronics maker's stock.

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

Bel Fuse Stock Down 2.4 %

Shares of BELFB stock traded down $1.77 on Monday, hitting $72.79. 77,097 shares of the stock were exchanged, compared to its average volume of 91,616. The business has a 50-day moving average of $77.64 and a 200 day moving average of $69.95. Bel Fuse has a fifty-two week low of $45.74 and a fifty-two week high of $85.91. The firm has a market capitalization of $913.51 million, a P/E 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 Announces Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.38%. Bel Fuse's dividend payout ratio is presently 6.42%.

Institutional Trading of Bel Fuse

Several hedge funds have recently added to or reduced their stakes in BELFB. Beach Investment Counsel Inc. PA purchased a new stake in shares of Bel Fuse during the 2nd quarter valued at about $25,000. Isthmus Partners LLC acquired a new stake in shares of Bel Fuse during the second quarter worth about $39,000. nVerses Capital LLC purchased a new stake in Bel Fuse during the third quarter worth $39,000. Comerica Bank increased its stake in shares of Bel Fuse by 223.7% during the first 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. Finally, BNP Paribas Financial Markets raised its position in shares of Bel Fuse by 10.0% in the third quarter. BNP Paribas Financial Markets now owns 2,197 shares of the electronics maker's stock valued at $172,000 after buying an additional 200 shares during the last quarter. 58.39% of the stock is owned by institutional investors.

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.