Needham & Company LLC Reiterates Buy Rating for Benchmark Electronics (NYSE:BHE)

Benchmark Electronics (NYSE:BHE)‘s stock had its “buy” rating restated by Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They currently have a $48.00 price target on the technology company’s stock. Needham & Company LLC’s price objective points to a potential upside of 0.33% from the stock’s previous close.

Separately, StockNews.com raised shares of Benchmark Electronics from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Benchmark Electronics has an average rating of “Moderate Buy” and a consensus target price of $42.33.

Benchmark Electronics Trading Up 1.8 %

Shares of BHE stock opened at $47.84 on Tuesday. The stock has a 50 day simple moving average of $47.50 and a 200 day simple moving average of $44.24. Benchmark Electronics 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 stock has a market cap of $1.72 billion, a P/E ratio of 27.81 and a beta of 1.00.

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

Insider Buying and Selling at Benchmark Electronics

In other news, 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 value of $281,880.00. Following the completion of the transaction, the senior vice president now directly owns 47,991 shares in the company, valued at approximately $2,254,617.18. This represents a 11.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeff Benck sold 24,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was 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 in the company, valued at $19,469,540.70. This represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,000 shares of company stock worth $1,655,340 over the last 90 days. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BHE. Quest Partners LLC acquired a new stake in Benchmark Electronics during the 2nd quarter worth approximately $41,000. American Century Companies Inc. lifted its holdings in shares of Benchmark Electronics by 176.6% during the second quarter. American Century Companies Inc. now owns 615,036 shares of the technology company’s stock worth $24,269,000 after purchasing an additional 392,699 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Benchmark Electronics by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,012,717 shares of the technology company’s stock worth $118,881,000 after purchasing an additional 12,112 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in Benchmark Electronics in the second quarter valued at $70,424,000. Finally, Public Sector Pension Investment Board raised its position in Benchmark Electronics by 7.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 79,343 shares of the technology company’s stock worth $3,131,000 after purchasing an additional 5,292 shares during the last quarter. Institutional investors and hedge funds own 92.29% of the company’s stock.

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.