Benchmark Electronics (NYSE:BHE) Upgraded at StockNews.com

StockNews.com upgraded shares of Benchmark Electronics (NYSE:BHEFree Report) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

Separately, Needham & Company LLC increased their price target on shares of Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Benchmark Electronics presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.33.

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Benchmark Electronics Trading Down 0.4 %

Shares of NYSE:BHE opened at $45.99 on Tuesday. The business’s 50 day simple moving average is $47.51 and its 200 day simple moving average is $43.98. Benchmark Electronics has a 1 year low of $25.35 and a 1 year high of $52.57. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.36 and a quick ratio of 1.45. The company has a market capitalization of $1.66 billion, a P/E ratio of 26.74 and a beta of 1.00.

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

Benchmark Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.48%. Benchmark Electronics’s payout ratio is currently 39.53%.

Insider Activity at Benchmark Electronics

In related news, SVP Rhonda R. Turner sold 6,000 shares of Benchmark Electronics stock in a transaction 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 transaction, the senior vice president now owns 47,991 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeff Benck sold 24,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $45.90, for a total transaction of $1,101,600.00. Following the completion of the transaction, the chief executive officer now owns 424,173 shares in the company, valued at approximately $19,469,540.70. The trade was a 5.36 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Natixis Advisors LLC grew its holdings in Benchmark Electronics by 8.7% in the second quarter. Natixis Advisors LLC now owns 25,155 shares of the technology company’s stock worth $993,000 after purchasing an additional 2,015 shares during the period. Rhumbline Advisers grew its stake in shares of Benchmark Electronics by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 115,465 shares of the technology company’s stock valued at $4,556,000 after buying an additional 692 shares during the period. Quest Partners LLC acquired a new stake in shares of Benchmark Electronics in the 2nd quarter valued at about $41,000. ClariVest Asset Management LLC increased its position in Benchmark Electronics by 2.8% in the 2nd quarter. ClariVest Asset Management LLC now owns 38,215 shares of the technology company’s stock valued at $1,508,000 after buying an additional 1,027 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Benchmark Electronics by 176.6% during the 2nd quarter. American Century Companies Inc. now owns 615,036 shares of the technology company’s stock worth $24,269,000 after buying an additional 392,699 shares during the period. 92.29% of the stock is owned by institutional investors.

Benchmark Electronics Company Profile

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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.

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