Inspire Investing LLC Trims Stake in Benchmark Electronics, Inc. (NYSE:BHE)

Inspire Investing LLC reduced its position in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 25.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,984 shares of the technology company’s stock after selling 2,997 shares during the period. Inspire Investing LLC’s holdings in Benchmark Electronics were worth $355,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BHE. Rise Advisors LLC purchased a new position in shares of Benchmark Electronics during the 1st quarter valued at $27,000. UMB Bank n.a. grew its position in shares of Benchmark Electronics by 65.7% during the 2nd quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock valued at $27,000 after purchasing an additional 272 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Benchmark Electronics by 97.9% during the 4th quarter. Parallel Advisors LLC now owns 1,144 shares of the technology company’s stock valued at $32,000 after purchasing an additional 566 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Benchmark Electronics during the 2nd quarter worth $41,000. Finally, CWM LLC lifted its holdings in shares of Benchmark Electronics by 81.9% during the 2nd quarter. CWM LLC now owns 1,106 shares of the technology company’s stock worth $44,000 after acquiring an additional 498 shares during the last quarter. 92.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Needham & Company LLC lifted their price objective 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 lifted their price objective on shares of Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com downgraded shares of Benchmark Electronics from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $41.33.

Benchmark Electronics Stock Performance

Benchmark Electronics stock opened at $43.98 on Friday. The company has a quick ratio of 1.42, a current ratio of 2.35 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $1.59 billion, a PE ratio of 24.03 and a beta of 0.98. The firm has a fifty day simple moving average of $41.85 and a two-hundred day simple moving average of $37.94. Benchmark Electronics, Inc. has a twelve month low of $22.66 and a twelve month high of $48.58.

Benchmark Electronics (NYSE:BHE) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.06. The business 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 firm’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share.

Benchmark Electronics Increases Dividend

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

Insiders Place Their Bets

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were 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 of the company’s stock, valued at $1,794,552.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.10% of the stock is currently owned by insiders.

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.