Assenagon Asset Management S.A. Sells 4,190 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

Assenagon Asset Management S.A. cut its holdings in Benchmark Electronics, Inc. (NYSE:BHE) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,035 shares of the technology company’s stock after selling 4,190 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.13% of Benchmark Electronics worth $2,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. lifted its holdings in Benchmark Electronics by 8.9% in the 3rd quarter. Pacer Advisors Inc. now owns 1,944,347 shares of the technology company’s stock worth $86,173,000 after buying an additional 159,659 shares during the period. Franklin Resources Inc. raised its holdings in shares of Benchmark Electronics by 0.6% during the third quarter. Franklin Resources Inc. now owns 1,897,568 shares of the technology company’s stock valued at $84,081,000 after acquiring an additional 11,738 shares in the last quarter. Geode Capital Management LLC lifted its stake in Benchmark Electronics by 2.6% in the third quarter. Geode Capital Management LLC now owns 841,602 shares of the technology company’s stock worth $37,307,000 after acquiring an additional 21,355 shares during the period. Wasatch Advisors LP boosted its holdings in Benchmark Electronics by 19.5% in the third quarter. Wasatch Advisors LP now owns 820,493 shares of the technology company’s stock valued at $36,364,000 after acquiring an additional 133,602 shares in the last quarter. Finally, Millennium Management LLC increased its position in Benchmark Electronics by 85.9% during the 2nd quarter. Millennium Management LLC now owns 446,176 shares of the technology company’s stock valued at $17,606,000 after purchasing an additional 206,114 shares during the period. Hedge funds and other institutional investors own 92.29% of the company’s stock.

Insider Buying and Selling

In other news, SVP Rhonda R. Turner sold 6,000 shares of Benchmark Electronics stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeff Benck sold 24,000 shares of the stock in a transaction dated 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 $19,469,540.70. This trade represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,000 shares of company stock worth $1,655,340 in the last 90 days. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BHE. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 target price on shares of Benchmark Electronics in a research report on Tuesday, January 14th. StockNews.com upgraded shares of Benchmark Electronics from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $42.33.

Benchmark Electronics Stock Performance

Shares of Benchmark Electronics stock opened at $48.90 on Thursday. Benchmark Electronics, Inc. has a 12 month low of $26.41 and a 12 month high of $52.57. The firm has a market capitalization of $1.76 billion, a P/E ratio of 28.43 and a beta of 1.00. 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 $47.27 and a two-hundred day simple moving average of $44.55.

Benchmark Electronics (NYSE:BHE) last issued its quarterly 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 net margin of 2.32% and a return on equity of 6.81%. The company had revenue of $658.00 million during the quarter, compared to analyst estimates of $650.00 million. During the same period last year, the business earned $0.57 EPS. Benchmark Electronics’s quarterly revenue was down 8.6% compared to the same quarter last year.

Benchmark Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were given a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.39%. Benchmark Electronics’s dividend payout ratio is currently 39.53%.

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.