Needham & Company LLC Forecasts Strong Price Appreciation for Benchmark Electronics (NYSE:BHE) Stock

Benchmark Electronics (NYSE:BHE) had its price objective hoisted by Needham & Company LLC from $45.00 to $48.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other research analysts also recently commented on the stock. Lake Street Capital increased their price target on shares of Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com upgraded Benchmark Electronics from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $42.33.

Benchmark Electronics Price Performance

Shares of Benchmark Electronics stock opened at $45.16 on Friday. The firm has a market cap of $1.63 billion, a PE ratio of 26.26 and a beta of 0.97. The stock has a 50 day moving average of $43.21 and a 200 day moving average of $41.11. The company has a current ratio of 2.36, a quick ratio of 1.42 and a debt-to-equity ratio of 0.25. Benchmark Electronics has a 12 month low of $23.62 and a 12 month high of $48.58.

Benchmark Electronics (NYSE:BHE) last posted its earnings results on Wednesday, October 30th. The technology company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%. The firm had revenue of $658.00 million during the quarter, compared to analyst estimates of $650.00 million. During the same period last year, the firm posted $0.57 earnings per share. Benchmark Electronics’s revenue for the quarter was down 8.6% compared to the same quarter last year.

Benchmark Electronics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.51%. The ex-dividend date was Monday, September 30th. This is an increase from Benchmark Electronics’s previous quarterly dividend of $0.17. Benchmark Electronics’s dividend payout ratio is 39.53%.

Insiders Place Their Bets

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the business’s stock in a transaction on Monday, August 26th. The shares were 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.10% of the company’s stock.

Institutional Trading of Benchmark Electronics

Institutional investors and hedge funds have recently modified their holdings of the stock. UMB Bank n.a. increased its holdings in 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 purchasing an additional 272 shares during the period. Quest Partners LLC bought a new stake in shares of Benchmark Electronics in the second quarter valued at about $41,000. CWM LLC lifted its stake in Benchmark Electronics by 81.9% in the second quarter. CWM LLC now owns 1,106 shares of the technology company’s stock worth $44,000 after acquiring an additional 498 shares during the period. Quarry LP grew its holdings in Benchmark Electronics by 172.5% during the 2nd 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, Innealta Capital LLC purchased a new position in Benchmark Electronics during the 2nd quarter valued at about $61,000. Institutional investors own 92.29% of the company’s stock.

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.