Benchmark Electronics, Inc. (NYSE:BHE) Stock Position Raised by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 841,602 shares of the technology company’s stock after acquiring an additional 21,355 shares during the quarter. Geode Capital Management LLC owned approximately 2.34% of Benchmark Electronics worth $37,307,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. raised its position in shares of Benchmark Electronics by 55.2% during the 3rd quarter. Victory Capital Management Inc. now owns 39,439 shares of the technology company’s stock worth $1,748,000 after purchasing an additional 14,020 shares during the period. FMR LLC grew its stake in Benchmark Electronics by 27.3% during the 3rd quarter. FMR LLC now owns 120,126 shares of the technology company’s stock worth $5,324,000 after buying an additional 25,769 shares during the last quarter. Algert Global LLC increased its position in Benchmark Electronics by 428.1% in the third quarter. Algert Global LLC now owns 32,887 shares of the technology company’s stock worth $1,458,000 after buying an additional 26,660 shares during the period. Millennium Management LLC lifted its stake in Benchmark Electronics by 85.9% in the second quarter. Millennium Management LLC now owns 446,176 shares of the technology company’s stock valued at $17,606,000 after buying an additional 206,114 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Benchmark Electronics by 128.8% during the third quarter. Barclays PLC now owns 86,024 shares of the technology company’s stock valued at $3,814,000 after acquiring an additional 48,425 shares during the period. Institutional investors own 92.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Needham & Company LLC lifted their price objective on shares of Benchmark Electronics from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com raised Benchmark Electronics from a “hold” rating to a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Benchmark Electronics has an average rating of “Moderate Buy” and an average price target of $42.33.

Benchmark Electronics Price Performance

Shares of NYSE BHE opened at $46.85 on Wednesday. The stock has a market cap of $1.69 billion, a P/E ratio of 27.24 and a beta of 0.99. The firm’s 50-day simple moving average is $47.04 and its 200 day simple moving average is $43.52. Benchmark Electronics, Inc. has a fifty-two week low of $25.35 and a fifty-two week high of $52.57. The company has a quick ratio of 1.45, a current ratio of 2.36 and a debt-to-equity ratio of 0.25.

Benchmark Electronics (NYSE:BHE) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The company had revenue of $658.00 million for the quarter, compared to the consensus estimate of $650.00 million. Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%. Benchmark Electronics’s revenue was down 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS.

Benchmark Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Tuesday, December 31st. Benchmark Electronics’s payout ratio is currently 39.53%.

Insider Activity

In related news, SVP Rhonda R. Turner sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $46.98, for a total transaction of $281,880.00. Following the completion of the sale, the senior vice president now directly owns 47,991 shares in the company, valued at approximately $2,254,617.18. This trade represents a 11.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeff Benck sold 24,000 shares of the stock in a transaction on 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 sale, 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 disclosure for this sale can be found here. 2.10% of the stock is 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.