Victory Capital Management Inc. Lowers Holdings in Benchmark Electronics, Inc. (NYSE:BHE)

Victory Capital Management Inc. lowered its holdings in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 46.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 25,419 shares of the technology company’s stock after selling 21,943 shares during the period. Victory Capital Management Inc.’s holdings in Benchmark Electronics were worth $1,003,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BHE. UMB Bank n.a. lifted its holdings in shares of Benchmark Electronics by 65.7% in the second quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock worth $27,000 after buying an additional 272 shares in the last quarter. Rise Advisors LLC purchased a new stake in Benchmark Electronics in the 1st quarter worth $27,000. CWM LLC lifted its stake in Benchmark Electronics by 81.9% in the 2nd quarter. CWM LLC now owns 1,106 shares of the technology company’s stock worth $44,000 after purchasing an additional 498 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Benchmark Electronics by 97.9% during the 4th quarter. Parallel Advisors LLC now owns 1,144 shares of the technology company’s stock valued at $32,000 after purchasing an additional 566 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Benchmark Electronics during the second quarter valued at about $61,000. Hedge funds and other institutional investors own 92.29% of the company’s stock.

Wall Street Analysts Forecast Growth

BHE has been the subject of a number of research reports. Needham & Company LLC increased their price target on Benchmark Electronics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com cut Benchmark Electronics from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Lake Street Capital raised their target price on shares of Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $41.33.

Insiders Place Their Bets

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $42.70, for a total value of $302,017.10. Following the sale, the director now owns 42,027 shares of the company’s stock, valued at $1,794,552.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.10% of the stock is owned by insiders.

Benchmark Electronics Stock Down 1.3 %

Shares of NYSE:BHE opened at $43.96 on Friday. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 24.02 and a beta of 0.98. Benchmark Electronics, Inc. has a 12 month low of $22.66 and a 12 month high of $48.58. The company has a current ratio of 2.35, a quick ratio of 1.42 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $41.85 and a 200 day moving average price of $37.89.

Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. The business had revenue of $666.00 million for the quarter, compared to the consensus estimate of $635.75 million. Benchmark Electronics had a return on equity of 7.17% and a net margin of 2.45%. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 earnings per share.

Benchmark Electronics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from Benchmark Electronics’s previous quarterly dividend of $0.17. This represents a $0.68 dividend on an annualized basis and a yield of 1.55%. Benchmark Electronics’s dividend payout ratio (DPR) is currently 37.16%.

Benchmark Electronics Profile

Benchmark Electronics, Inc, together with its subsidiaries, offers product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company provides engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing and technology solutions, as well as automation equipment design and build services.