US Bancorp DE Sells 659 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

US Bancorp DE reduced its stake in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 7.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 8,341 shares of the technology company’s stock after selling 659 shares during the quarter. US Bancorp DE’s holdings in Benchmark Electronics were worth $370,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. UniSuper Management Pty Ltd bought a new position in Benchmark Electronics in the 1st quarter valued at $430,000. Millennium Management LLC lifted its stake in shares of Benchmark Electronics by 85.9% during the second quarter. Millennium Management LLC now owns 446,176 shares of the technology company’s stock valued at $17,606,000 after acquiring an additional 206,114 shares during the period. Raymond James & Associates bought a new position in Benchmark Electronics in the second quarter valued at about $2,642,000. Versor Investments LP bought a new stake in Benchmark Electronics during the 2nd quarter worth about $545,000. Finally, Squarepoint Ops LLC acquired a new position in Benchmark Electronics during the 2nd quarter valued at about $2,459,000. Institutional investors and hedge funds own 92.29% of the company’s stock.

Insiders Place Their Bets

In related news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the business’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 sale, the director now directly owns 42,027 shares of the company’s stock, valued at approximately $1,794,552.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Benchmark Electronics news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 in the company, valued at approximately $1,794,552.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeff Benck sold 24,000 shares of the firm’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 transaction of $1,101,600.00. Following the transaction, the chief executive officer now directly owns 424,173 shares of the company’s stock, valued at $19,469,540.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Benchmark Electronics Stock Down 2.8 %

Shares of NYSE:BHE opened at $49.85 on Wednesday. The company has a 50 day moving average price of $44.19 and a two-hundred day moving average price of $41.95. The company has a market capitalization of $1.79 billion, a PE ratio of 28.98 and a beta of 0.97. Benchmark Electronics, Inc. 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.

Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.54 by $0.03. Benchmark Electronics had a return on equity of 6.81% and a net margin of 2.32%. The business had revenue of $658.00 million for the quarter, compared to the consensus estimate of $650.00 million. During the same quarter last year, the business posted $0.57 EPS. The firm’s revenue was down 8.6% compared to the same quarter last year.

Benchmark Electronics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.36%. This is a boost from Benchmark Electronics’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, September 30th. Benchmark Electronics’s dividend payout ratio is presently 39.53%.

Analysts Set New Price Targets

Several brokerages have recently commented on BHE. StockNews.com upgraded shares of Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Sunday. Lake Street Capital upped their target price 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. Finally, Needham & Company LLC increased their price target on Benchmark Electronics from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Benchmark Electronics has an average rating of “Moderate Buy” and an average target price of $42.33.

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.