Fmr LLC Purchases 25,769 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

Fmr LLC increased its position in Benchmark Electronics, Inc. (NYSE:BHE) by 27.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 120,126 shares of the technology company’s stock after purchasing an additional 25,769 shares during the quarter. Fmr LLC owned approximately 0.33% of Benchmark Electronics worth $5,324,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in BHE. The Manufacturers Life Insurance Company lifted its position in Benchmark Electronics by 33.3% during the third quarter. The Manufacturers Life Insurance Company now owns 17,962 shares of the technology company’s stock valued at $796,000 after buying an additional 4,492 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in shares of Benchmark Electronics by 46.7% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 17,997 shares of the technology company’s stock worth $798,000 after acquiring an additional 5,728 shares in the last quarter. Algert Global LLC lifted its position in Benchmark Electronics by 428.1% during the 3rd quarter. Algert Global LLC now owns 32,887 shares of the technology company’s stock valued at $1,458,000 after acquiring an additional 26,660 shares during the period. Pacer Advisors Inc. boosted its stake in Benchmark Electronics by 8.9% during the third quarter. Pacer Advisors Inc. now owns 1,944,347 shares of the technology company’s stock worth $86,173,000 after acquiring an additional 159,659 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Benchmark Electronics in the third quarter worth about $1,063,000. 92.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BHE. Needham & Company LLC lifted their target price on shares of Benchmark Electronics from $45.00 to $48.00 and gave the company a “buy” rating in a report on Friday, November 1st. StockNews.com cut Benchmark Electronics from a “buy” rating to a “hold” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Benchmark Electronics presently has a consensus rating of “Hold” and an average price target of $42.33.

Benchmark Electronics Stock Performance

BHE stock opened at $48.62 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.36 and a quick ratio of 1.45. Benchmark Electronics, Inc. has a 1 year low of $25.35 and a 1 year high of $52.57. The company has a market cap of $1.75 billion, a P/E ratio of 28.27 and a beta of 0.99. The stock’s fifty day moving average price is $46.61 and its 200-day moving average price is $43.31.

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

Benchmark Electronics Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.68 annualized dividend and a yield of 1.40%. Benchmark Electronics’s payout ratio is presently 39.53%.

Insider Transactions at Benchmark Electronics

In other Benchmark Electronics news, CEO Jeff Benck sold 24,000 shares of the company’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 value of $1,101,600.00. Following the completion of the transaction, the chief executive officer now directly owns 424,173 shares in the company, valued at $19,469,540.70. This represents a 5.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Rhonda R. Turner sold 6,000 shares of the stock in a transaction 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 completion of the sale, the senior vice president now directly owns 47,991 shares of the company’s stock, valued at approximately $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. Corporate insiders own 2.10% of the company’s stock.

Benchmark Electronics 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.