Benchmark Electronics (NYSE:BHE) Upgraded at StockNews.com

StockNews.com upgraded shares of Benchmark Electronics (NYSE:BHE) from a hold rating to a buy rating in a research note released on Sunday.

Several other equities analysts have also recently weighed in on BHE. Lake Street Capital lifted their price objective on Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Needham & Company LLC raised their target price on shares of Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.33.

Benchmark Electronics Stock Down 2.8 %

Shares of NYSE BHE opened at $49.85 on Friday. Benchmark Electronics has a 52-week low of $24.20 and a 52-week high of $52.57. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 2.36. The stock has a market cap of $1.79 billion, a P/E ratio of 28.98 and a beta of 0.97. The firm has a 50 day moving average price of $44.19 and a 200 day moving average price of $41.95.

Benchmark Electronics (NYSE:BHE) last announced its quarterly 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 company had revenue of $658.00 million during the quarter, compared to analyst estimates of $650.00 million. Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%. The firm’s revenue was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 EPS.

Benchmark Electronics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a $0.17 dividend. The ex-dividend date of this dividend was 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 dividend yield of 1.36%. Benchmark Electronics’s dividend payout ratio (DPR) is 39.53%.

Insider Transactions at Benchmark Electronics

In related news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the firm’s 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 completion of the transaction, the director now owns 42,027 shares of the company’s stock, valued at approximately $1,794,552.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,794,552.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeff Benck sold 24,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $45.90, for a total value of $1,101,600.00. Following the transaction, the chief executive officer now directly owns 424,173 shares in the company, valued at $19,469,540.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Benchmark Electronics

A number of hedge funds and other institutional investors have recently bought and sold shares of BHE. Algert Global LLC raised its stake in Benchmark Electronics by 428.1% in the third quarter. Algert Global LLC now owns 32,887 shares of the technology company’s stock valued at $1,458,000 after buying an additional 26,660 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Benchmark Electronics by 8.9% during the 3rd quarter. Pacer Advisors Inc. now owns 1,944,347 shares of the technology company’s stock worth $86,173,000 after acquiring an additional 159,659 shares during the last quarter. Intech Investment Management LLC bought a new stake in Benchmark Electronics in the 3rd quarter valued at $1,063,000. Jennison Associates LLC acquired a new stake in Benchmark Electronics during the 3rd quarter valued at $1,201,000. Finally, Segall Bryant & Hamill LLC bought a new position in Benchmark Electronics during the third quarter worth $3,334,000. Institutional investors own 92.29% of the company’s stock.

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.