State Street Corp Has $62.38 Million Stock Position in Benchmark Electronics, Inc. (NYSE:BHE)

State Street Corp lessened its position in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 0.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,402,104 shares of the technology company’s stock after selling 262 shares during the quarter. State Street Corp owned about 3.89% of Benchmark Electronics worth $62,378,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. CWM LLC boosted its stake in Benchmark Electronics by 81.9% in the second 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. Raymond James & Associates bought a new position in shares of Benchmark Electronics in the 2nd quarter worth $2,642,000. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Benchmark Electronics during the second quarter worth $302,000. Louisiana State Employees Retirement System increased its holdings in 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 purchasing an additional 400 shares during the last quarter. Finally, Tributary Capital Management LLC lifted its stake in Benchmark Electronics by 0.3% in the second quarter. Tributary Capital Management LLC now owns 646,142 shares of the technology company’s stock valued at $25,497,000 after buying an additional 1,875 shares during the period. Institutional investors own 92.29% of the company’s stock.

Insider Activity

In other news, CEO Jeff Benck sold 24,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 424,173 shares of the company’s stock, valued at $19,469,540.70. The trade was a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction, the senior vice president now owns 47,991 shares of the company’s stock, valued at $2,254,617.18. The trade was a 11.11 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BHE shares. Needham & Company LLC upped their price target on Benchmark Electronics from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com downgraded shares of Benchmark Electronics from a “buy” rating to a “hold” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $42.33.

Benchmark Electronics Stock Down 3.2 %

Shares of Benchmark Electronics stock opened at $45.97 on Thursday. Benchmark Electronics, Inc. has a 1 year low of $25.35 and a 1 year high of $52.57. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.36 and a quick ratio of 1.45. The company has a market capitalization of $1.65 billion, a P/E ratio of 26.73 and a beta of 0.99. The business has a 50-day moving average of $46.89 and a two-hundred day moving average of $43.40.

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

Benchmark Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Tuesday, December 31st. Benchmark Electronics’s dividend payout ratio is 39.53%.

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.