Assenagon Asset Management S.A. Has $2.32 Million Stake in Benchmark Electronics, Inc. (NYSE:BHE)

Assenagon Asset Management S.A. grew its position in Benchmark Electronics, Inc. (NYSE:BHE) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,225 shares of the technology company’s stock after purchasing an additional 2,248 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Benchmark Electronics were worth $2,315,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Miller Howard Investments Inc. NY grew its position in shares of Benchmark Electronics by 1.8% in the second quarter. Miller Howard Investments Inc. NY now owns 15,244 shares of the technology company’s stock valued at $602,000 after purchasing an additional 263 shares during the last quarter. UMB Bank n.a. grew its position in shares of Benchmark Electronics by 65.7% in the second quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock valued at $27,000 after purchasing an additional 272 shares during the last quarter. Inspire Investing LLC grew its position in Benchmark Electronics by 4.0% during the third quarter. Inspire Investing LLC now owns 9,346 shares of the technology company’s stock worth $414,000 after buying an additional 362 shares in the last quarter. Louisiana State Employees Retirement System grew its position in Benchmark Electronics by 2.3% during the second quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the technology company’s stock worth $714,000 after buying an additional 400 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its position in Benchmark Electronics by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 31,229 shares of the technology company’s stock worth $937,000 after buying an additional 405 shares in the last quarter. Institutional investors and hedge funds own 92.29% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 42,027 shares in the company, valued at approximately $1,794,552.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BHE shares. Lake Street Capital increased their price target on Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC increased their price target on Benchmark Electronics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, StockNews.com raised Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $41.33.

Benchmark Electronics Stock Down 4.7 %

NYSE BHE opened at $43.30 on Friday. The business has a fifty day moving average price of $43.05 and a two-hundred day moving average price of $40.72. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.35 and a quick ratio of 1.42. Benchmark Electronics, Inc. has a fifty-two week low of $23.62 and a fifty-two week high of $48.58. The stock has a market capitalization of $1.56 billion, a PE ratio of 23.16 and a beta of 0.98.

Benchmark Electronics (NYSE:BHE) last released its earnings results on Tuesday, July 30th. The technology company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.06. Benchmark Electronics had a return on equity of 7.17% and a net margin of 2.45%. The firm had revenue of $666.00 million during the quarter, compared to analysts’ expectations of $635.75 million. During the same period in the prior year, the company earned $0.48 earnings per share. The company’s quarterly revenue was down 9.2% on a year-over-year basis.

Benchmark Electronics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from Benchmark Electronics’s previous quarterly dividend of $0.17. This represents a $0.68 annualized dividend and a yield of 1.57%. Benchmark Electronics’s dividend payout ratio is presently 36.36%.

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.