Benchmark Electronics, Inc. (NYSE:BHE) Stake Raised by ClariVest Asset Management LLC

ClariVest Asset Management LLC grew its holdings in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 2.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,215 shares of the technology company’s stock after purchasing an additional 1,027 shares during the period. ClariVest Asset Management LLC owned approximately 0.11% of Benchmark Electronics worth $1,508,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Rise Advisors LLC bought a new stake in Benchmark Electronics during the first quarter worth approximately $27,000. UMB Bank n.a. boosted its stake in shares of Benchmark Electronics by 65.7% during the 2nd quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock worth $27,000 after acquiring an additional 272 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Benchmark Electronics by 97.9% in the 4th quarter. Parallel Advisors LLC now owns 1,144 shares of the technology company’s stock worth $32,000 after acquiring an additional 566 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Benchmark Electronics during the second quarter worth $41,000. Finally, CWM LLC lifted its holdings in shares of Benchmark Electronics by 81.9% during the second quarter. CWM LLC now owns 1,106 shares of the technology company’s stock valued at $44,000 after purchasing an additional 498 shares during the last quarter. Institutional investors own 92.29% of the company’s stock.

Insider Buying and Selling at Benchmark Electronics

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $42.70, for a total transaction of $302,017.10. Following the completion of the sale, the director now directly owns 42,027 shares of the company’s stock, valued at approximately $1,794,552.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

BHE has been the subject of a number of analyst reports. StockNews.com lowered shares of Benchmark Electronics from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Lake Street Capital upped their price target on shares of Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Fox Advisors cut shares of Benchmark Electronics from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, May 15th. Finally, Needham & Company LLC increased their target price on Benchmark Electronics from $40.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $41.33.

Benchmark Electronics Price Performance

NYSE BHE opened at $40.37 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.35 and a quick ratio of 1.42. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 22.06 and a beta of 0.98. The company has a 50 day simple moving average of $41.35 and a 200-day simple moving average of $37.31. Benchmark Electronics, Inc. has a 52-week low of $22.66 and a 52-week high of $48.58.

Benchmark Electronics (NYSE:BHE) last released its earnings results on Tuesday, July 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. The company had revenue of $666.00 million during the quarter, compared to the consensus estimate of $635.75 million. Benchmark Electronics had a net margin of 2.45% and a return on equity of 7.17%. The company’s revenue was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 EPS.

Benchmark Electronics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.68%. This is an increase from Benchmark Electronics’s previous quarterly dividend of $0.17. Benchmark Electronics’s payout ratio is 36.07%.

Benchmark Electronics 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.