Hsbc Holdings PLC acquired a new stake in Bel Fuse Inc. (NASDAQ:BELFB – Free Report) in the 1st quarter, Holdings Channel.com reports. The firm acquired 2,528 shares of the electronics maker’s stock, valued at approximately $493,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in Bel Fuse by 365.6% in the fourth 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. Kemnay Advisory Services Inc. acquired a new stake in shares of Bel Fuse during the 4th quarter valued at approximately $33,000. Erste Asset Management GmbH acquired a new stake in shares of Bel Fuse during the 4th quarter valued at approximately $83,000. Clearstead Advisors LLC boosted its stake in shares of Bel Fuse by 195.0% during the 4th quarter. Clearstead Advisors LLC now owns 590 shares of the electronics maker’s stock worth $100,000 after acquiring an additional 390 shares in the last quarter. Finally, NBC Securities Inc. purchased a new stake in shares of Bel Fuse during the 4th quarter worth approximately $107,000. 58.39% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on BELFB. Northland Securities set a $326.00 price objective on Bel Fuse in a research note on Friday. JPMorgan Chase & Co. boosted their target price on Bel Fuse from $370.00 to $380.00 and gave the stock an “overweight” rating in a research report on Friday. Citigroup began coverage on Bel Fuse in a report on Monday, July 13th. They issued a “buy” rating on the stock. Robert W. Baird set a $293.00 price target on Bel Fuse in a research report on Friday, May 1st. Finally, Bank of America started coverage on Bel Fuse in a research note on Tuesday, July 14th. They set a “buy” rating and a $330.00 price target for the company. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Bel Fuse presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.00.
Bel Fuse Stock Up 7.3%
BELFB stock opened at $271.97 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.48 and a quick ratio of 1.73. The company’s 50 day simple moving average is $280.31 and its 200-day simple moving average is $246.57. Bel Fuse Inc. has a 12 month low of $123.14 and a 12 month high of $335.29. The firm has a market capitalization of $3.46 billion, a PE ratio of 65.69, a P/E/G ratio of 2.63 and a beta of 1.68.
Bel Fuse Company Profile
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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