Renaissance Technologies LLC Sells 17,479 Shares of Bel Fuse Inc. $BELFB

Renaissance Technologies LLC decreased its stake in shares of Bel Fuse Inc. (NASDAQ:BELFB – Free Report) by 7.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 213,872 shares of the electronics maker’s stock after selling 17,479 shares during the period. Renaissance Technologies LLC’s holdings in Bel Fuse were worth $42,342,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its holdings in Bel Fuse by 365.6% during the 4th quarter. Farther Finance Advisors LLC now owns 149 shares of the electronics maker’s stock valued at $25,000 after buying an additional 117 shares in the last quarter. State of Wyoming bought a new stake in shares of Bel Fuse during the first quarter valued at about $30,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Bel Fuse in the fourth quarter worth about $33,000. KBC Group NV purchased a new stake in shares of Bel Fuse in the first quarter worth about $38,000. Finally, Signature Equity Partners LLC bought a new position in shares of Bel Fuse in the first quarter valued at approximately $39,000. Institutional investors own 58.39% of the company’s stock.

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Bel Fuse Stock Down 0.9%

Shares of NASDAQ BELFB opened at $270.26 on Tuesday. The company has a current ratio of 3.18, a quick ratio of 1.73 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average of $280.64 and a 200-day moving average of $245.00. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 61.56, a PEG ratio of 2.83 and a beta of 1.68. Bel Fuse Inc. has a 12 month low of $118.08 and a 12 month high of $335.29.

Wall Street Analysts Forecast Growth

BELFB has been the subject of several recent analyst reports. Bank of America began coverage on shares of Bel Fuse in a research note on Tuesday, July 14th. They set a “buy” rating and a $330.00 price objective for the company. Robert W. Baird set a $293.00 price target on shares of Bel Fuse in a report on Friday, May 1st. Needham & Company LLC boosted their price target on shares of Bel Fuse from $250.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. B. Riley Financial initiated coverage on shares of Bel Fuse in a report on Tuesday, July 14th. They issued a “buy” rating on the stock. Finally, Weiss Ratings upgraded Bel Fuse from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $321.50.

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Bel Fuse Company Profile

(Free Report)

Bel Fuse Inc is a global manufacturer of electronic components that bridge power, data and video applications. The company offers a comprehensive portfolio of products, including board-level circuit protection devices such as fuses, positive temperature coefficient (PTC) resistors and inductors; power transformers, modules and supplies; as well as connectivity solutions encompassing USB, HDMI, RJ45, coaxial and fiber-optic connectors. These products serve a wide array of end markets, including telecommunications, data communications, consumer electronics, industrial automation, automotive and renewable energy.

Founded in 1949 and headquartered in Oradell, New Jersey, Bel Fuse has grown through organic expansion and strategic acquisitions.

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