Bessemer Group Reduces $21M in Bel Fuse Inc. ($BELFB)
Key Points
- Bessemer Group changed its Bel Fuse Inc. ($BELFB) stake by 33.6% last quarter, cutting to 137,318 shares worth $40.71 million.
- Wall Street's consensus rating on $BELFB is Strong Buy and an average price target of $317.57.
- $BELFB last traded around $296.50.
Bessemer Group reduced its position in Bel Fuse Inc. ($BELFB) by 33.6% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 137,318 shares of Bel Fuse Inc. after selling 69,594 shares during the quarter. Bessemer Group's holdings in Bel Fuse Inc. were worth $40.71 million as of its most recent filing.
Bel Fuse Inc. ($BELFB) Stock
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About Bel Fuse Inc.
Bel Fuse Inc. designs, manufactures, markets, and sells products that power, protect, and connect electronic circuits. It operates in three product groups: Power Solutions and Protection, Connectivity Solutions, and Magnetic Solutions. The company's products are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, defence, commercial aerospace, transportation, and e-Mobility industries. It provides power solutions and protection products, including front-end power supplies, board-mount power products, industrial and transportation power products, military, aerospace and defense products, external power products, and circuit protection products. The company offers connectivity solutions, such as expanded beam fiber optic connectors, cable assemblies, and active optical devices; copper-based connectors/cable assemblies; radio frequency connectors, cable assemblies, microwave devices, and low loss cables; and ethernet, I/O, and industrial and power connectivity products. In addition, it provides magnetic solutions comprising integrated connector modules, power transformers, SMD power inductors and SMPS transformers, and discrete components-ethernet. The company sells its products through direct strategic account managers, regional sales managers working with independent sales representative organizations, and authorized distributors North America, Europe, Middle East, and Asia. Bel Fuse Inc. was incorporated in 1949 and is headquartered in West Orange, New Jersey.
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