Benchmark Electronics (NYSE:BHE) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of Benchmark Electronics (NYSE:BHE) from a buy rating to a hold rating in a report published on Monday.

Several other equities analysts have also issued reports on BHE. Lake Street Capital upped their target price on Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Needham & Company LLC lifted their target price on Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $42.33.

Benchmark Electronics Stock Performance

Shares of Benchmark Electronics stock opened at $47.09 on Monday. The company has a market cap of $1.70 billion, a PE ratio of 27.03 and a beta of 0.97. 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 has a 52 week low of $24.75 and a 52 week high of $52.57. The business has a 50 day moving average price of $44.94 and a 200-day moving average price of $42.47.

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

Benchmark Electronics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Benchmark Electronics’s previous quarterly dividend of $0.17. This represents a $0.68 annualized dividend and a yield of 1.44%. Benchmark Electronics’s dividend payout ratio is 39.53%.

Insider Activity

In other Benchmark Electronics news, SVP Rhonda R. Turner sold 6,000 shares of Benchmark Electronics stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $46.98, for a total transaction of $281,880.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeff Benck sold 24,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 424,173 shares in the company, valued at approximately $19,469,540.70. The trade was a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,073 shares of company stock valued at $1,685,497 over the last quarter. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Benchmark Electronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. raised its holdings in shares of Benchmark Electronics by 65.7% in the 2nd quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock valued at $27,000 after acquiring an additional 272 shares in the last quarter. Quest Partners LLC bought a new stake in Benchmark Electronics in the 2nd quarter worth approximately $41,000. CWM LLC boosted its stake in Benchmark Electronics by 81.9% in the second quarter. CWM LLC now owns 1,106 shares of the technology company’s stock worth $44,000 after buying an additional 498 shares in the last quarter. Quarry LP grew its position in Benchmark Electronics by 172.5% during the second quarter. Quarry LP now owns 1,379 shares of the technology company’s stock valued at $54,000 after acquiring an additional 873 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Benchmark Electronics by 125.3% during the third quarter. KBC Group NV now owns 1,534 shares of the technology company’s stock worth $68,000 after acquiring an additional 853 shares in the last quarter. 92.29% of the stock is currently owned by hedge funds and other institutional investors.

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.