Benchmark Electronics, Inc. (NYSE:BHE) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 13.3% in the third quarter, Holdings Channel reports. The fund owned 11,138 shares of the technology company’s stock after purchasing an additional 1,311 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Benchmark Electronics were worth $494,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Glenmede Trust Co. NA purchased a new stake in shares of Benchmark Electronics during the third quarter worth approximately $238,000. FMR LLC increased its stake in Benchmark Electronics by 27.3% in the 3rd quarter. FMR LLC now owns 120,126 shares of the technology company’s stock valued at $5,324,000 after buying an additional 25,769 shares during the period. The Manufacturers Life Insurance Company raised its position in Benchmark Electronics by 33.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 17,962 shares of the technology company’s stock worth $796,000 after buying an additional 4,492 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in shares of Benchmark Electronics by 46.7% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 17,997 shares of the technology company’s stock worth $798,000 after acquiring an additional 5,728 shares during the period. Finally, Algert Global LLC boosted its holdings in shares of 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 acquiring an additional 26,660 shares in the last quarter. 92.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. StockNews.com downgraded shares of Benchmark Electronics from a “buy” rating to a “hold” rating in a research report on Wednesday. Needham & Company LLC raised their price target on Benchmark Electronics from $45.00 to $48.00 and gave the company a “buy” rating in a report on Friday, November 1st. Three investment 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 stock presently has an average rating of “Hold” and an average price target of $42.33.

Insider Activity

In related news, SVP Rhonda R. Turner sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 of the company’s stock, valued at approximately $2,254,617.18. This represents a 11.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeff Benck sold 24,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $19,469,540.70. The trade was a 5.36 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Benchmark Electronics Stock Down 1.6 %

Shares of NYSE BHE opened at $47.62 on Friday. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 27.69 and a beta of 0.99. Benchmark Electronics, Inc. has a 52 week low of $24.93 and a 52 week high of $52.57. The firm has a 50-day moving average price of $46.23 and a 200 day moving average price of $43.17. The company has a quick ratio of 1.45, a current ratio of 2.36 and a debt-to-equity ratio of 0.25.

Benchmark Electronics (NYSE:BHE) last posted 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 company had revenue of $658.00 million during the quarter, compared to the consensus estimate of $650.00 million. Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%. The company’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same period last year, the firm earned $0.57 EPS.

Benchmark Electronics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a $0.17 dividend. This is a positive change from Benchmark Electronics’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.68 annualized dividend and a yield of 1.43%. Benchmark Electronics’s dividend payout ratio is 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.