Benchmark Electronics (NYSE:BHE) Stock Rating Lowered 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 on Wednesday.

Separately, Needham & Company LLC lifted their price target on Benchmark Electronics from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $42.33.

Benchmark Electronics Stock Down 1.1 %

Shares of NYSE BHE opened at $48.95 on Wednesday. Benchmark Electronics has a 52 week low of $24.93 and a 52 week high of $52.57. The business has a 50-day simple moving average of $46.00 and a two-hundred day simple moving average of $43.04. The company has a quick ratio of 1.45, a current ratio of 2.36 and a debt-to-equity ratio of 0.25. The company has a market cap of $1.76 billion, a P/E ratio of 28.46 and a beta of 0.99.

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

Insider Activity at Benchmark Electronics

In other news, 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 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 approximately $19,469,540.70. The trade was a 5.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rhonda R. Turner sold 6,000 shares of Benchmark Electronics stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $46.98, for a total value of $281,880.00. Following the sale, the senior vice president now owns 47,991 shares in the company, valued at $2,254,617.18. This represents a 11.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Franklin Resources Inc. increased its position in Benchmark Electronics by 0.6% in the third quarter. Franklin Resources Inc. now owns 1,897,568 shares of the technology company’s stock worth $84,081,000 after buying an additional 11,738 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Benchmark Electronics by 2.6% in the third quarter. Geode Capital Management LLC now owns 841,602 shares of the technology company’s stock worth $37,307,000 after acquiring an additional 21,355 shares during the period. Vestcor Inc raised its holdings in shares of Benchmark Electronics by 50.5% during the 3rd quarter. Vestcor Inc now owns 15,054 shares of the technology company’s stock worth $667,000 after acquiring an additional 5,054 shares in the last quarter. Barclays PLC lifted its position in Benchmark Electronics by 128.8% during the third quarter. Barclays PLC now owns 86,024 shares of the technology company’s stock valued at $3,814,000 after purchasing an additional 48,425 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in Benchmark Electronics by 10.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 193,205 shares of the technology company’s stock worth $8,555,000 after acquiring an additional 17,697 shares in the last quarter. Hedge funds and other institutional investors own 92.29% of the company’s stock.

Benchmark Electronics Company 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.