Sei Investments Co. Grows Position in Bel Fuse Inc. $BELFB

Sei Investments Co. grew its position in Bel Fuse Inc. (NASDAQ:BELFB) by 31.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,669 shares of the electronics maker’s stock after acquiring an additional 8,521 shares during the quarter. Sei Investments Co.’s holdings in Bel Fuse were worth $7,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Walleye Capital LLC bought a new position in shares of Bel Fuse during the 1st quarter valued at approximately $240,000. State of Wyoming bought a new stake in Bel Fuse in the first quarter worth $30,000. Signature Equity Partners LLC bought a new stake in Bel Fuse in the first quarter worth $39,000. First Trust Advisors LP raised its stake in Bel Fuse by 6.7% during the first quarter. First Trust Advisors LP now owns 58,028 shares of the electronics maker’s stock valued at $11,488,000 after purchasing an additional 3,630 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Bel Fuse by 20.2% during the first quarter. PNC Financial Services Group Inc. now owns 286 shares of the electronics maker’s stock valued at $57,000 after purchasing an additional 48 shares in the last quarter. 58.39% of the stock is owned by hedge funds and other institutional investors.

Bel Fuse Stock Up 1.1%

Shares of BELFB opened at $274.83 on Tuesday. The company has a quick ratio of 3.20, a current ratio of 4.48 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average of $280.41 and a 200 day moving average of $247.55. The company has a market cap of $3.50 billion, a PE ratio of 66.38, a P/E/G ratio of 2.82 and a beta of 1.72. Bel Fuse Inc. has a 52-week low of $124.42 and a 52-week high of $335.29.

Analysts Set New Price Targets

A number of brokerages have commented on BELFB. Zacks Research cut shares of Bel Fuse from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. Northland Securities set a $326.00 target price on shares of Bel Fuse in a research report on Friday. Oppenheimer reaffirmed an “outperform” rating and issued a $315.00 price target on shares of Bel Fuse in a report on Friday, May 1st. Citigroup assumed coverage on Bel Fuse in a research report on Monday, July 13th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Bel Fuse from $370.00 to $380.00 and gave the stock an “overweight” rating in a research note on Friday. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $324.00.

About Bel Fuse

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.