Benchmark Electronics (NYSE:BHE) Shares Gap Up Following Analyst Upgrade

Shares of Benchmark Electronics, Inc. (NYSE:BHE) gapped up prior to trading on Thursday after Needham & Company LLC raised their price target on the stock from $48.00 to $50.00. The stock had previously closed at $43.64, but opened at $46.00. Needham & Company LLC currently has a buy rating on the stock. Benchmark Electronics shares last traded at $44.80, with a volume of 43,632 shares traded.

Separately, StockNews.com upgraded shares of Benchmark Electronics from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.00.

Insider Buying and Selling

In other news, SVP Rhonda R. Turner sold 6,000 shares of Benchmark Electronics stock in a transaction that occurred on Tuesday, November 19th. The shares were 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 directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeff Benck sold 24,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $45.90, for a total transaction of $1,101,600.00. Following the completion of the transaction, the chief executive officer now owns 424,173 shares of the company’s stock, valued at approximately $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. In the last quarter, insiders have sold 36,000 shares of company stock worth $1,655,340. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Quarry LP increased its stake in shares of Benchmark Electronics by 172.5% in the 2nd quarter. Quarry LP now owns 1,379 shares of the technology company’s stock valued at $54,000 after purchasing an additional 873 shares in the last quarter. KBC Group NV increased its position in shares of Benchmark Electronics by 125.3% in the third quarter. KBC Group NV now owns 1,534 shares of the technology company’s stock valued at $68,000 after buying an additional 853 shares in the last quarter. CWM LLC increased its position in shares of Benchmark Electronics by 54.2% in the third quarter. CWM LLC now owns 1,706 shares of the technology company’s stock valued at $76,000 after buying an additional 600 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Benchmark Electronics by 161.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,255 shares of the technology company’s stock worth $100,000 after buying an additional 1,392 shares during the period. Finally, Highland Capital Management LLC purchased a new position in shares of Benchmark Electronics during the 3rd quarter valued at approximately $234,000. Institutional investors and hedge funds own 92.29% of the company’s stock.

Benchmark Electronics Stock Up 0.5 %

The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 24.69 and a beta of 1.00. The business’s 50 day moving average is $46.84 and its 200-day moving average is $44.74. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 2.36.

Benchmark Electronics (NYSE:BHE) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). Benchmark Electronics had a return on equity of 6.71% and a net margin of 2.38%.

Benchmark Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.59%. The ex-dividend date was Tuesday, December 31st. Benchmark Electronics’s dividend payout ratio is currently 39.31%.

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.