Benchmark Electronics (NYSE:BHE) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Benchmark Electronics (NYSE:BHE) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

A number of other equities analysts have also recently issued reports on the stock. Sidoti cut shares of Benchmark Electronics from a buy rating to a neutral rating and set a $33.00 price target on the stock. in a research note on Monday, April 29th. Fox Advisors cut shares of Benchmark Electronics from an overweight rating to an equal weight rating in a research note on Wednesday, May 15th. Lake Street Capital upped 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. Finally, Needham & Company LLC upped their price target on shares of Benchmark Electronics from $40.00 to $45.00 and gave the stock a buy rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $41.33.

Benchmark Electronics Stock Performance

Shares of BHE stock opened at $41.48 on Wednesday. Benchmark Electronics has a 12 month low of $22.66 and a 12 month high of $48.58. The stock has a market cap of $1.50 billion, a PE ratio of 22.67 and a beta of 0.99. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 0.26. The company’s fifty day moving average price is $41.03 and its 200-day moving average price is $34.82.

Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. The company had revenue of $666.00 million for 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%. Benchmark Electronics’s revenue was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 EPS.

Benchmark Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.59%. The ex-dividend date was Friday, June 28th. Benchmark Electronics’s dividend payout ratio is currently 36.07%.

Insider Buying and Selling at Benchmark Electronics

In other Benchmark Electronics news, Director Jeffrey Stephen Mccreary sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $39.49, for a total transaction of $394,900.00. Following the transaction, the director now owns 45,062 shares in the company, valued at approximately $1,779,498.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Arvind Kamal sold 783 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $38.38, for a total transaction of $30,051.54. Following the completion of the sale, the chief financial officer now owns 20,735 shares of the company’s stock, valued at approximately $795,809.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Stephen Mccreary sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $39.49, for a total transaction of $394,900.00. Following the sale, the director now directly owns 45,062 shares of the company’s stock, valued at approximately $1,779,498.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,560 shares of company stock worth $688,374. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Benchmark Electronics

Several hedge funds and other institutional investors have recently made changes to their positions in BHE. Norges Bank purchased a new stake in shares of Benchmark Electronics during the 4th quarter valued at about $7,012,000. First Trust Advisors LP increased its holdings in Benchmark Electronics by 36.9% in the 4th quarter. First Trust Advisors LP now owns 902,475 shares of the technology company’s stock worth $24,944,000 after acquiring an additional 243,480 shares in the last quarter. Circumference Group LLC purchased a new stake in Benchmark Electronics in the 4th quarter worth approximately $6,558,000. Vanguard Group Inc. increased its holdings in Benchmark Electronics by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 4,845,204 shares of the technology company’s stock worth $145,405,000 after acquiring an additional 159,716 shares in the last quarter. Finally, Advisors Preferred LLC purchased a new stake in Benchmark Electronics in the 1st quarter worth approximately $2,883,000. Hedge funds and other institutional investors own 92.29% 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.