Benchmark Electronics (NYSE:BHE) Downgraded to “Hold” Rating by StockNews.com

Benchmark Electronics (NYSE:BHE) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other brokerages also recently issued reports on BHE. Needham & Company LLC raised their price objective on Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday. Lake Street Capital lifted their price target on shares of Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.33.

Benchmark Electronics Stock Up 6.0 %

Shares of NYSE BHE opened at $45.89 on Friday. The company has a market capitalization of $1.66 billion, a P/E ratio of 26.68 and a beta of 0.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.35 and a quick ratio of 1.42. The company has a 50 day simple moving average of $43.09 and a 200-day simple moving average of $40.73. Benchmark Electronics has a 1 year low of $23.62 and a 1 year high of $48.58.

Benchmark Electronics (NYSE:BHE) last posted its earnings results on Tuesday, July 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. Benchmark Electronics had a return on equity of 6.84% and a net margin of 2.32%. The company had revenue of $666.00 million during the quarter, compared to analysts’ expectations of $635.75 million. During the same quarter last year, the firm earned $0.48 earnings per share. The firm’s quarterly revenue was down 9.2% compared to the same quarter last year.

Insider Activity at Benchmark Electronics

In related news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $42.70, for a total transaction of $302,017.10. Following the completion of the transaction, the director now directly owns 42,027 shares in the company, valued at $1,794,552.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Benchmark Electronics

A number of hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC increased its position in shares of Benchmark Electronics by 61.4% during the first quarter. Empowered Funds LLC now owns 75,682 shares of the technology company’s stock worth $2,271,000 after acquiring an additional 28,784 shares during the period. UniSuper Management Pty Ltd purchased a new stake in Benchmark Electronics during the 1st quarter worth about $430,000. Millennium Management LLC raised its position in Benchmark Electronics by 85.9% in the 2nd quarter. Millennium Management LLC now owns 446,176 shares of the technology company’s stock valued at $17,606,000 after purchasing an additional 206,114 shares in the last quarter. Raymond James & Associates acquired a new stake in Benchmark Electronics in the 2nd quarter valued at about $2,642,000. Finally, Versor Investments LP purchased a new position in shares of Benchmark Electronics in the 2nd quarter valued at about $545,000. 92.29% of the stock is currently owned by institutional investors and hedge funds.

About Benchmark Electronics

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.