Benchmark Electronics (NYSE:BHE) Upgraded to “Buy” at StockNews.com

Benchmark Electronics (NYSE:BHE) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

A number of other research firms also recently issued reports on BHE. Needham & Company LLC upped their price target on shares of Benchmark Electronics from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Lake Street Capital increased their target price on shares of Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.33.

Benchmark Electronics Stock Up 0.8 %

Shares of Benchmark Electronics stock opened at $51.83 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 2.36. The stock has a market capitalization of $1.87 billion, a PE ratio of 30.13 and a beta of 0.97. Benchmark Electronics has a 52-week low of $23.75 and a 52-week high of $52.49. The company has a 50-day simple moving average of $43.83 and a two-hundred day simple moving average of $41.60.

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

Insider Activity at Benchmark Electronics

In other Benchmark Electronics news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.70, for a total value of $302,017.10. Following the transaction, the director now owns 42,027 shares of the company’s stock, valued at $1,794,552.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Benchmark Electronics news, CEO Jeff Benck sold 24,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was 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 approximately $19,469,540.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey Stephen Mccreary sold 7,073 shares of Benchmark Electronics stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.70, for a total value of $302,017.10. Following the transaction, the director now directly owns 42,027 shares of the company’s stock, valued at $1,794,552.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Institutional Trading of Benchmark Electronics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BHE. UMB Bank n.a. lifted its position 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 acquiring an additional 272 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Benchmark Electronics in the 2nd quarter valued at approximately $41,000. CWM LLC increased its holdings 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 valued at $44,000 after acquiring an additional 498 shares during the last quarter. Quarry LP increased its holdings 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 acquiring an additional 873 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in Benchmark Electronics during the 2nd quarter worth $61,000. Hedge funds and other 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.