Millennium Management LLC Has $17.61 Million Stock Holdings in Benchmark Electronics, Inc. (NYSE:BHE)

Millennium Management LLC grew its position in Benchmark Electronics, Inc. (NYSE:BHE) by 85.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 446,176 shares of the technology company’s stock after buying an additional 206,114 shares during the period. Millennium Management LLC owned approximately 1.24% of Benchmark Electronics worth $17,606,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Rise Advisors LLC acquired a new stake in shares of Benchmark Electronics during the first quarter worth $27,000. UMB Bank n.a. raised its stake in shares of Benchmark Electronics by 65.7% in 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 during the period. Parallel Advisors LLC lifted its holdings in shares of Benchmark Electronics by 97.9% in the fourth 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 acquired a new position in shares of Benchmark Electronics during the second quarter worth about $41,000. Finally, CWM LLC grew its holdings in shares of Benchmark Electronics by 81.9% during the second quarter. CWM LLC now owns 1,106 shares of the technology company’s stock worth $44,000 after buying an additional 498 shares in the last quarter. Institutional investors own 92.29% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Benchmark Electronics Trading Up 2.3 %

NYSE BHE opened at $43.73 on Friday. Benchmark Electronics, Inc. has a 12 month low of $22.66 and a 12 month high of $48.58. 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 stock has a 50 day moving average of $42.28 and a 200-day moving average of $38.90. The company has a market cap of $1.58 billion, a PE ratio of 23.90 and a beta of 0.98.

Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.57 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 analysts’ expectations 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 last year, the company 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 given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Monday, September 30th. This is an increase from Benchmark Electronics’s previous quarterly dividend of $0.17. Benchmark Electronics’s payout ratio is 37.16%.

Insider Buying and Selling at Benchmark Electronics

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of Benchmark Electronics 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.10% of the company’s stock.

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.