Needham & Company Downgrades Bel Fuse (BELFB) to Hold; Current Environment Stable, But May Lack Appropriate Earnings Catalysts

Needham & Company downgraded Bel Fuse (NASDAQ: BELFB) from Buy to Hold.

Needham analyst says, "We believe the state of business at the electronic component suppliers we track can be characterized as generally stable, with pockets of temporary softness and lacking tangible near-to-medium term catalysts that would enable more material growth. Specifically for Bel Fuse, our industry conversations continue to confirm somewhat steady but uninspiring demand, particularly at networking customers. Considering reduced pricing power (vs. ’10), the growing impact of relatively lowermargin business at Ambient (N/R), and our slightly more tempered outlook, we now have lower earnings expectations in the medium term."

"For June, our estimates become $72.5M & $0.29, vs. our prior $72.5M & $0.35. For ’11, now $304M & $1.46, vs. prior $309M & $1.64. Our ’12 estimates become $318M & $1.67, vs. prior $326M & $1.94."

For more ratings news on Bel Fuse click here and for the rating history of Bel Fuse click here.

Shares of Bel Fuse closed at $21.26 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• LeonaBio (LONA) Price Target Cut to $17 by Citizens Amid Pipeline Development
• ThinkEquity Starts Deep Isolation Nuclear (DBHL) at Buy
• BMO Capital Resumes Global Net Lease (GNL), Upgrades to Outperform