Legacy Capital Group California Inc. Reduces Stock Holdings in Benchmark Electronics, Inc. (NYSE:BHE)

Legacy Capital Group California Inc. lessened its stake in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 4.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,256 shares of the technology company’s stock after selling 325 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Benchmark Electronics were worth $322,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Benchmark Electronics by 3.4% in the first quarter. Vanguard Group Inc. now owns 4,845,204 shares of the technology company’s stock valued at $145,405,000 after acquiring an additional 159,716 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Benchmark Electronics by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,012,717 shares of the technology company’s stock worth $118,881,000 after purchasing an additional 12,112 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Benchmark Electronics in the 2nd quarter valued at about $70,424,000. Tributary Capital Management LLC boosted its position in shares of Benchmark Electronics by 0.3% in the 2nd quarter. Tributary Capital Management LLC now owns 646,142 shares of the technology company’s stock valued at $25,497,000 after purchasing an additional 1,875 shares during the period. Finally, American Century Companies Inc. grew its stake in Benchmark Electronics by 176.6% during the 2nd quarter. American Century Companies Inc. now owns 615,036 shares of the technology company’s stock worth $24,269,000 after buying an additional 392,699 shares during the last quarter. Institutional investors and hedge funds own 92.29% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at Benchmark Electronics

In other Benchmark Electronics news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $42.70, for a total transaction of $302,017.10. Following the transaction, the director now owns 42,027 shares in the company, valued at approximately $1,794,552.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.10% of the stock is owned by insiders.

Benchmark Electronics Trading Up 0.6 %

Shares of BHE stock opened at $44.51 on Friday. The company has a market capitalization of $1.60 billion, a P/E ratio of 24.32 and a beta of 0.98. The company has a current ratio of 2.35, a quick ratio of 1.42 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average is $42.86 and its two-hundred day moving average is $40.31. Benchmark Electronics, Inc. has a twelve month low of $23.00 and a twelve month high of $48.58.

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

Benchmark Electronics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a dividend of $0.17 per share. 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 1.53%. The ex-dividend date was Monday, September 30th. Benchmark Electronics’s dividend payout ratio is currently 37.16%.

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.