Benchmark Electronics (NYSE:BHE) Shares Gap Up After Analyst Upgrade

Benchmark Electronics, Inc. (NYSE:BHE) gapped up prior to trading on Thursday after Needham & Company LLC raised their price target on the stock from $48.00 to $50.00. The stock had previously closed at $43.64, but opened at $46.00. Needham & Company LLC currently has a buy rating on the stock. Benchmark Electronics shares last traded at $44.80, with a volume of 43,632 shares trading hands.

Separately, StockNews.com raised shares of Benchmark Electronics from a “hold” rating to a “buy” rating in a research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Insider Activity at Benchmark Electronics

In other news, CEO Jeff Benck sold 24,000 shares of Benchmark Electronics stock in a transaction dated 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 owns 424,173 shares of the company’s stock, valued at $19,469,540.70. This trade represents a 5.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Rhonda R. Turner sold 6,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $2,254,617.18. This represents a 11.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,000 shares of company stock valued at $1,655,340. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Benchmark Electronics

A number of large investors have recently added to or reduced their stakes in BHE. Pacer Advisors Inc. boosted its position 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 purchasing an additional 159,659 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Benchmark Electronics by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,897,568 shares of the technology company’s stock worth $84,081,000 after buying an additional 11,738 shares during the period. Geode Capital Management LLC grew its stake in Benchmark Electronics by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 841,602 shares of the technology company’s stock valued at $37,307,000 after buying an additional 21,355 shares during the last quarter. Wasatch Advisors LP raised its holdings in Benchmark Electronics by 19.5% in the 3rd 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 during the period. Finally, Millennium Management LLC lifted its position in Benchmark Electronics by 85.9% during the second quarter. Millennium Management LLC now owns 446,176 shares of the technology company’s stock worth $17,606,000 after acquiring an additional 206,114 shares during the last quarter. Institutional investors own 92.29% of the company’s stock.

Benchmark Electronics Price Performance

The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 24.74 and a beta of 1.00. The company’s 50-day simple moving average is $46.95 and its 200-day simple moving average is $44.73. 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 (NYSE:BHE) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%.

Benchmark Electronics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Tuesday, December 31st. Benchmark Electronics’s payout ratio is 39.53%.

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.