State of Alaska Department of Revenue Sells 575 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

State of Alaska Department of Revenue decreased its position in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 2.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,605 shares of the technology company’s stock after selling 575 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Benchmark Electronics worth $913,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Benchmark Electronics by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 4,845,204 shares of the technology company’s stock valued at $145,405,000 after buying an additional 159,716 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Benchmark Electronics by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,012,717 shares of the technology company’s stock valued at $118,881,000 after buying an additional 12,112 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of Benchmark Electronics during the 2nd quarter valued at $70,424,000. Tributary Capital Management LLC lifted its stake in Benchmark Electronics by 0.3% in the 2nd quarter. Tributary Capital Management LLC now owns 646,142 shares of the technology company’s stock worth $25,497,000 after purchasing an additional 1,875 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Benchmark Electronics by 176.6% in the 2nd quarter. American Century Companies Inc. now owns 615,036 shares of the technology company’s stock worth $24,269,000 after purchasing an additional 392,699 shares in the last quarter. Hedge funds and other institutional investors own 92.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on BHE. StockNews.com cut shares of Benchmark Electronics from a “buy” rating to a “hold” rating in a research note on Saturday. Needham & Company LLC boosted their price target on shares of Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Lake Street Capital boosted their price target on shares of Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a research note 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. According to MarketBeat, Benchmark Electronics has a consensus rating of “Hold” and an average target price of $42.33.

Insider Activity at Benchmark Electronics

In related news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.70, for a total transaction of $302,017.10. Following the transaction, the director now directly owns 42,027 shares in the company, valued at approximately $1,794,552.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.10% of the stock is currently owned by insiders.

Benchmark Electronics Stock Up 3.0 %

Shares of NYSE BHE opened at $46.53 on Wednesday. The firm’s 50-day moving average price is $43.29 and its 200-day moving average price is $41.23. The company has a current ratio of 2.36, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 27.05 and a beta of 0.97. Benchmark Electronics, Inc. has a 12-month low of $23.62 and a 12-month high of $48.58.

Benchmark Electronics (NYSE:BHE) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.03. The firm had revenue of $658.00 million for the quarter, compared to analysts’ expectations of $650.00 million. Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%. The business’s revenue was down 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 EPS.

Benchmark Electronics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.46%. This is an increase from Benchmark Electronics’s previous quarterly dividend of $0.17. The ex-dividend date was Monday, September 30th. Benchmark Electronics’s dividend payout ratio is presently 39.53%.

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.