Needham & Company Starts Bel Fuse (BELFB) at Hold; Reducing Estimates For Macro – Driven Softness
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Price: $299.00 +3.08%
Rating Summary:
8 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
Rating Summary:
8 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
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Needham & Company initiates coverage on Bel Fuse (NASDAQ: BELFB) with a Hold. PT $0.00.
Needham analyst says, "Consistent with our Components industry note today, we believe Bel Fuse (among other component providers) has seen some softness materialize in its business and that demand is somewhat sluggish. We expect this dynamic to continue in the near-term despite some specific positives within Bel Fuse such as momentum in Cinch Connectors as well as business for areas such as the (electric) smart grid. Consequently, we believe it is prudent to trim our estimates and we maintain our Hold rating at present."
"For 3Q, we are now forecasting $77 million and $0.17, down from our prior $81 million and $0.24. For 2011, our estimates become $303 million & $0.78, vs. our previous $314 million & $0.94."
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 $15.70 yesterday.
Needham analyst says, "Consistent with our Components industry note today, we believe Bel Fuse (among other component providers) has seen some softness materialize in its business and that demand is somewhat sluggish. We expect this dynamic to continue in the near-term despite some specific positives within Bel Fuse such as momentum in Cinch Connectors as well as business for areas such as the (electric) smart grid. Consequently, we believe it is prudent to trim our estimates and we maintain our Hold rating at present."
"For 3Q, we are now forecasting $77 million and $0.17, down from our prior $81 million and $0.24. For 2011, our estimates become $303 million & $0.78, vs. our previous $314 million & $0.94."
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 $15.70 yesterday.
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