Jennison Associates LLC Makes New $1.20 Million Investment in Benchmark Electronics, Inc. (NYSE:BHE)

Jennison Associates LLC acquired a new stake in Benchmark Electronics, Inc. (NYSE:BHE) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 27,102 shares of the technology company’s stock, valued at approximately $1,201,000. Jennison Associates LLC owned about 0.08% of Benchmark Electronics as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its holdings in shares of Benchmark Electronics by 65.7% during the second quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock worth $27,000 after buying an additional 272 shares in the last quarter. Quest Partners LLC purchased a new stake in Benchmark Electronics during the 2nd quarter valued at about $41,000. CWM LLC raised its holdings in 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 lifted its stake in Benchmark Electronics by 172.5% in the 2nd quarter. Quarry LP now owns 1,379 shares of the technology company’s stock worth $54,000 after purchasing an additional 873 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of Benchmark Electronics during the 2nd quarter worth approximately $61,000. Hedge funds and other institutional investors own 92.29% of the company’s stock.

Benchmark Electronics Price Performance

BHE stock opened at $48.17 on Friday. The business’s fifty day moving average price is $45.32 and its 200 day moving average price is $42.61. Benchmark Electronics, Inc. has a 12-month low of $24.75 and a 12-month high of $52.57. The company has a current ratio of 2.36, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $1.73 billion, a PE ratio of 28.01 and a beta of 0.97.

Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping 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 company had revenue of $658.00 million for the quarter, compared to analyst estimates of $650.00 million. During the same period in the prior year, the firm earned $0.57 earnings per share. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year.

Benchmark Electronics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $0.17 dividend. This is an increase from Benchmark Electronics’s previous quarterly dividend of $0.17. The ex-dividend date was Monday, September 30th. This represents a $0.68 annualized dividend and a dividend yield of 1.41%. Benchmark Electronics’s payout ratio is 39.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BHE shares. StockNews.com downgraded Benchmark Electronics from a “buy” rating to a “hold” rating in a research report on Monday, November 18th. Needham & Company LLC increased their target price on shares of Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Lake Street Capital boosted their price target on shares of Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Benchmark Electronics has an average rating of “Hold” and a consensus price target of $42.33.

Insider Transactions at Benchmark Electronics

In related news, Director Jeffrey Stephen Mccreary sold 7,073 shares of Benchmark Electronics stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $42.70, for a total value of $302,017.10. Following the completion of the transaction, the director now owns 42,027 shares in the company, valued at $1,794,552.90. The trade was a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeff Benck sold 24,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 424,173 shares in the company, 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. Over the last 90 days, insiders have sold 37,073 shares of company stock valued at $1,685,497. 2.10% of the stock is currently owned by company insiders.

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.