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

StockNews.com upgraded shares of Benchmark Electronics (NYSE:BHE) from a hold rating to a buy rating in a research note published on Tuesday morning.

Separately, Needham & Company LLC raised their price objective 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’s stock. Based on data from MarketBeat.com, Benchmark Electronics presently has an average rating of “Moderate Buy” and an average target price of $42.33.

Benchmark Electronics Trading Down 0.4 %

NYSE:BHE opened at $45.99 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.36 and a quick ratio of 1.45. Benchmark Electronics has a one year low of $25.35 and a one year high of $52.57. The company has a market cap of $1.66 billion, a PE ratio of 26.74 and a beta of 1.00. The firm has a 50-day moving average of $47.51 and a 200-day moving average of $43.98.

Benchmark Electronics (NYSE:BHE) last released 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 business 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 quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 EPS.

Benchmark Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Tuesday, December 31st. Benchmark Electronics’s dividend payout ratio is presently 39.53%.

Insider Buying and Selling

In related 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 value 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 approximately $2,254,617.18. This trade represents a 11.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeff Benck sold 24,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $45.90, for a total value of $1,101,600.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Benchmark Electronics

Large investors have recently modified their holdings of the business. Pacer Advisors Inc. bought a new position in Benchmark Electronics in the 2nd quarter worth approximately $70,424,000. American Century Companies Inc. lifted its position in shares of Benchmark Electronics by 176.6% during the second quarter. American Century Companies Inc. now owns 615,036 shares of the technology company’s stock worth $24,269,000 after acquiring an additional 392,699 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Benchmark Electronics by 85.9% in the second quarter. Millennium Management LLC now owns 446,176 shares of the technology company’s stock worth $17,606,000 after acquiring an additional 206,114 shares during the period. Wasatch Advisors LP grew its position in shares of Benchmark Electronics by 19.5% in the third 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 in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Benchmark Electronics by 34.5% during 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 period. 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.