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

Benchmark Electronics (NYSE:BHE) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Separately, Needham & Company LLC boosted 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 issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.33.

Benchmark Electronics Trading Up 2.5 %

Shares of BHE stock opened at $46.34 on Tuesday. The firm has a fifty day moving average of $47.04 and a 200-day moving average of $43.52. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 26.94 and a beta of 0.99. Benchmark Electronics has a 52-week low of $25.35 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 posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. The firm 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 company’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 earnings per share.

Insider Transactions at Benchmark Electronics

In related news, CEO Jeff Benck sold 24,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were 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 owns 424,173 shares in the company, valued at $19,469,540.70. This represents a 5.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Rhonda R. Turner sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $46.98, for a total transaction of $281,880.00. Following the completion of the sale, the senior vice president now owns 47,991 shares of the company’s stock, valued at $2,254,617.18. The trade was a 11.11 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BHE. Pacer Advisors Inc. acquired a new stake in shares of Benchmark Electronics in the 2nd quarter valued at $70,424,000. American Century Companies Inc. increased its position in Benchmark Electronics by 176.6% in the second 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 during the period. Millennium Management LLC raised its holdings in Benchmark Electronics by 85.9% during the 2nd quarter. Millennium Management LLC now owns 446,176 shares of the technology company’s stock worth $17,606,000 after purchasing an additional 206,114 shares during the last quarter. Wasatch Advisors LP lifted its position in Benchmark Electronics by 19.5% during the 3rd quarter. Wasatch Advisors LP now owns 820,493 shares of the technology company’s stock valued at $36,364,000 after purchasing an additional 133,602 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Benchmark Electronics by 34.5% in the 3rd quarter. Wellington Management Group LLP now owns 428,181 shares of the technology company’s stock valued at $18,977,000 after purchasing an additional 109,903 shares during the last quarter. Institutional investors and hedge funds 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.