Benchmark Electronics, Inc. (NYSE:BHE) Stake Trimmed by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its position in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 0.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 561,769 shares of the technology company’s stock after selling 5,116 shares during the quarter. JPMorgan Chase & Co.’s holdings in Benchmark Electronics were worth $24,898,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Benchmark Electronics by 3.7% in the 3rd quarter. Principal Financial Group Inc. now owns 184,332 shares of the technology company’s stock valued at $8,170,000 after acquiring an additional 6,561 shares in the last quarter. Franklin Resources Inc. raised its stake in Benchmark Electronics by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,897,568 shares of the technology company’s stock valued at $84,081,000 after purchasing an additional 11,738 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Benchmark Electronics by 2.6% in the third quarter. Geode Capital Management LLC now owns 841,602 shares of the technology company’s stock valued at $37,307,000 after purchasing an additional 21,355 shares in the last quarter. Vestcor Inc boosted its position in shares of Benchmark Electronics by 50.5% in the third quarter. Vestcor Inc now owns 15,054 shares of the technology company’s stock worth $667,000 after buying an additional 5,054 shares during the period. Finally, Barclays PLC grew its holdings in shares of Benchmark Electronics by 128.8% during the third quarter. Barclays PLC now owns 86,024 shares of the technology company’s stock valued at $3,814,000 after buying an additional 48,425 shares in the last quarter. 92.29% of the stock is currently owned by institutional investors and hedge funds.

Benchmark Electronics Price Performance

Shares of NYSE:BHE opened at $46.16 on Wednesday. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 26.84 and a beta of 1.00. Benchmark Electronics, Inc. has a 1 year low of $25.35 and a 1 year 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 business has a fifty day simple moving average of $47.50 and a 200 day simple moving average of $43.97.

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

Benchmark Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Tuesday, December 31st. Benchmark Electronics’s dividend payout ratio is 39.53%.

Wall Street Analyst Weigh In

BHE has been the subject of several research analyst reports. Needham & Company LLC increased their price objective on Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. StockNews.com raised shares of Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $42.33.

Insider Transactions at Benchmark Electronics

In related news, SVP Rhonda R. Turner sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $46.98, for a total value of $281,880.00. Following the completion of the sale, the senior vice president now directly owns 47,991 shares in the company, valued at approximately $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 this link. 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 value of $1,101,600.00. Following the transaction, the chief executive officer now owns 424,173 shares in the company, valued at approximately $19,469,540.70. This trade represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. 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.