Benchmark Electronics (NYSE:BHE) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Benchmark Electronics (NYSE:BHE) from a hold rating to a buy rating in a report released on Tuesday.

BHE has been the topic of a number of other reports. Needham & Company LLC increased their target price on shares of Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Lake Street Capital upped their price target on Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.33.

Benchmark Electronics Stock Up 1.0 %

Shares of NYSE BHE opened at $48.55 on Tuesday. The company has a 50 day simple moving average of $45.80 and a 200-day simple moving average of $42.90. 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 $1.75 billion, a P/E ratio of 28.23 and a beta of 0.97. Benchmark Electronics has a 1 year low of $24.75 and a 1 year high of $52.57.

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

Benchmark Electronics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.40%. This is a boost from Benchmark Electronics’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, September 30th. Benchmark Electronics’s dividend payout ratio (DPR) is presently 39.53%.

Insider Transactions at Benchmark Electronics

In related news, CEO Jeff Benck sold 24,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was 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 in the company, valued at $19,469,540.70. This represents a 5.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Rhonda R. Turner sold 6,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $46.98, for a total value 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 approximately $2,254,617.18. This represents a 11.11 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Benchmark Electronics

Several institutional investors and hedge funds have recently modified their holdings of the business. UMB Bank n.a. raised its holdings in shares of Benchmark Electronics by 65.7% in the second quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock worth $27,000 after acquiring an additional 272 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Benchmark Electronics in the second quarter worth approximately $41,000. CWM LLC grew its stake 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 valued at $44,000 after buying an additional 498 shares during the period. Quarry LP increased its stake in Benchmark Electronics by 172.5% during the second quarter. Quarry LP now owns 1,379 shares of the technology company’s stock worth $54,000 after acquiring an additional 873 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in Benchmark Electronics during the 2nd quarter worth approximately $61,000. 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.