Benchmark Electronics (NYSE:BHE) Rating Lowered to “Hold” at StockNews.com

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

A number of other research firms also recently commented on BHE. Lake Street Capital upped their price objective on Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Needham & Company LLC raised their target price on shares of Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a report 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. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $42.33.

Benchmark Electronics Stock Performance

Benchmark Electronics stock opened at $47.65 on Monday. Benchmark Electronics has a 1-year low of $24.75 and a 1-year high of $52.57. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 27.38 and a beta of 0.97. The firm has a 50 day simple moving average of $45.07 and a 200-day simple moving average of $42.50. 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 (NYSE:BHE) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.03. The business had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $650.00 million. Benchmark Electronics had a return on equity of 6.81% and a net margin of 2.32%. The business’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 EPS.

Benchmark Electronics Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.43%. 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 the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $2,254,617.18. The trade was a 11.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 that occurred on 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 of the company’s stock, valued at $19,469,540.70. The trade was a 5.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,073 shares of company stock worth $1,685,497. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Benchmark Electronics

Several hedge funds have recently made changes to their positions in BHE. UMB Bank n.a. boosted 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 acquiring an additional 272 shares during the period. Quest Partners LLC purchased a new stake in shares of Benchmark Electronics during the 2nd quarter worth approximately $41,000. CWM LLC raised its position in shares of Benchmark Electronics by 81.9% in the 2nd quarter. CWM LLC now owns 1,106 shares of the technology company’s stock worth $44,000 after buying an additional 498 shares during the period. Quarry LP increased its position in shares of Benchmark Electronics by 172.5% in the second quarter. Quarry LP now owns 1,379 shares of the technology company’s stock worth $54,000 after acquiring an additional 873 shares in the last quarter. Finally, KBC Group NV lifted 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 purchasing an additional 853 shares in the last quarter. 92.29% of the stock is 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.