Victory Capital Management Inc. Sells 21,943 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

Victory Capital Management Inc. cut its holdings in Benchmark Electronics, Inc. (NYSE:BHE) by 46.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,419 shares of the technology company’s stock after selling 21,943 shares during the quarter. Victory Capital Management Inc. owned 0.07% of Benchmark Electronics worth $1,003,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Benchmark Electronics by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 892,102 shares of the technology company’s stock valued at $24,658,000 after buying an additional 30,941 shares during the last quarter. Empowered Funds LLC lifted its stake in Benchmark Electronics by 61.4% during the 1st quarter. Empowered Funds LLC now owns 75,682 shares of the technology company’s stock valued at $2,271,000 after acquiring an additional 28,784 shares during the period. UniSuper Management Pty Ltd purchased a new stake in shares of Benchmark Electronics during the 1st quarter valued at about $430,000. Wellington Management Group LLP grew its stake in shares of Benchmark Electronics by 63.3% in the fourth quarter. Wellington Management Group LLP now owns 183,278 shares of the technology company’s stock worth $5,066,000 after acquiring an additional 71,024 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Benchmark Electronics by 36.9% during the fourth quarter. First Trust Advisors LP now owns 902,475 shares of the technology company’s stock valued at $24,944,000 after purchasing an additional 243,480 shares during the last quarter. 92.29% of the stock is currently owned by hedge funds and other institutional investors.

Benchmark Electronics Stock Performance

Shares of NYSE BHE opened at $43.96 on Friday. Benchmark Electronics, Inc. has a 12-month low of $22.66 and a 12-month high of $48.58. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 24.02 and a beta of 0.98. The company has a current ratio of 2.35, a quick ratio of 1.42 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $41.85 and a 200 day moving average of $37.89.

Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. The firm had revenue of $666.00 million during the quarter, compared to the consensus estimate of $635.75 million. Benchmark Electronics had a net margin of 2.45% and a return on equity of 7.17%. The company’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.48 EPS.

Benchmark Electronics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be given a $0.17 dividend. This is a boost from Benchmark Electronics’s previous quarterly dividend of $0.17. The ex-dividend date is Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.55%. Benchmark Electronics’s dividend payout ratio is presently 37.16%.

Insider Transactions at Benchmark Electronics

In related news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $42.70, for a total transaction of $302,017.10. Following the completion of the transaction, the director now directly owns 42,027 shares in the company, valued at approximately $1,794,552.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Needham & Company LLC raised their target price on shares of Benchmark Electronics from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Lake Street Capital increased their price target on Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered Benchmark Electronics from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $41.33.

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.