Benchmark Electronics, Inc. (NYSE:BHE) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC lessened its stake in Benchmark Electronics, Inc. (NYSE:BHE) by 85.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,028 shares of the technology company’s stock after selling 41,269 shares during the quarter. Legato Capital Management LLC’s holdings in Benchmark Electronics were worth $277,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in BHE. Rise Advisors LLC acquired a new stake in shares of Benchmark Electronics in the first quarter worth approximately $27,000. Parallel Advisors LLC increased its stake in shares of Benchmark Electronics by 97.9% in the 4th quarter. Parallel Advisors LLC now owns 1,144 shares of the technology company’s stock worth $32,000 after acquiring an additional 566 shares during the last quarter. CWM LLC raised 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 period. Signaturefd LLC boosted its holdings in Benchmark Electronics by 121.0% in the 4th quarter. Signaturefd LLC now owns 1,766 shares of the technology company’s stock valued at $49,000 after purchasing an additional 967 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new position in Benchmark Electronics in the first quarter worth approximately $111,000. 92.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC boosted their price target on shares of Benchmark Electronics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com cut Benchmark Electronics from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Lake Street Capital raised their target price on shares of Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Sidoti cut shares of Benchmark Electronics from a “buy” rating to a “neutral” rating and set a $33.00 price target for the company. in a report on Monday, April 29th. Finally, Fox Advisors downgraded shares of Benchmark Electronics from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, May 15th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Benchmark Electronics has a consensus rating of “Hold” and an average price target of $41.33.

Benchmark Electronics Stock Up 0.2 %

Shares of BHE traded up $0.09 during mid-day trading on Tuesday, reaching $42.47. The company’s stock had a trading volume of 59,204 shares, compared to its average volume of 327,221. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.35 and a quick ratio of 1.41. Benchmark Electronics, Inc. has a 12-month low of $22.66 and a 12-month high of $48.58. The stock has a market cap of $1.53 billion, a PE ratio of 23.16 and a beta of 0.99. The company’s 50 day moving average is $40.95 and its 200 day moving average is $36.43.

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, beating analysts’ consensus estimates of $0.51 by $0.06. Benchmark Electronics had a return on equity of 7.17% and a net margin of 2.45%. The firm had revenue of $666.00 million during the quarter, compared to the consensus estimate of $635.75 million. During the same period in the prior year, the company posted $0.48 earnings per share. The firm’s quarterly revenue was down 9.2% compared to the same quarter last year.

Benchmark Electronics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.66 annualized dividend and a yield of 1.55%. Benchmark Electronics’s dividend payout ratio is currently 36.07%.

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.