StockNews.com Downgrades Benchmark Electronics (NYSE:BHE) to Hold

Benchmark Electronics (NYSE:BHE) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Separately, Needham & Company LLC raised their target price 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Benchmark Electronics has an average rating of “Hold” and an average price target of $42.33.

Benchmark Electronics Stock Down 1.1 %

Shares of NYSE:BHE opened at $48.95 on Wednesday. Benchmark Electronics has a 12 month low of $24.93 and a 12 month high of $52.57. The company’s 50-day moving average price is $46.00 and its two-hundred day moving average price is $43.04. The company has a quick ratio of 1.45, a current ratio of 2.36 and a debt-to-equity ratio of 0.25. The firm has a market cap of $1.76 billion, a P/E ratio of 28.46 and a beta of 0.99.

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

Insider Buying and Selling

In other Benchmark Electronics news, CEO Jeff Benck sold 24,000 shares of the firm’s 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 sale, the chief executive officer now directly 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Rhonda R. Turner sold 6,000 shares of the firm’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 transaction of $281,880.00. Following the sale, the senior vice president now owns 47,991 shares in the company, valued at $2,254,617.18. This trade represents a 11.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

Institutional Trading of Benchmark Electronics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in Benchmark Electronics by 3.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,852 shares of the technology company’s stock worth $956,000 after purchasing an additional 1,167 shares during the period. CWM LLC raised its stake in Benchmark Electronics by 81.9% during 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 in the last quarter. Raymond James & Associates acquired a new position in Benchmark Electronics during the second quarter worth about $2,642,000. Hennion & Walsh Asset Management Inc. acquired a new position in Benchmark Electronics during the second quarter worth about $302,000. Finally, Louisiana State Employees Retirement System increased its stake in shares of Benchmark Electronics by 2.3% in the second quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the technology company’s stock valued at $714,000 after buying an additional 400 shares during the period. 92.29% of the stock is currently owned by institutional investors and hedge funds.

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.