Benchmark Electronics (NYSE:BHE) Receives Buy Rating from Needham & Company LLC

Benchmark Electronics (NYSE:BHE)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They currently have a $48.00 price objective on the technology company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 2.54% from the company’s previous close.

Separately, StockNews.com raised Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.33.

Benchmark Electronics Trading Up 2.6 %

Benchmark Electronics stock traded up $1.18 during midday trading on Tuesday, reaching $46.81. The stock had a trading volume of 79,705 shares, compared to its average volume of 166,599. The stock has a market capitalization of $1.69 billion, a PE ratio of 27.22 and a beta of 1.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 2.36. The stock’s 50-day simple moving average is $47.56 and its 200 day simple moving average is $44.16. Benchmark Electronics has a twelve month low of $25.35 and a twelve month high of $52.57.

Benchmark Electronics (NYSE:BHE) last issued its earnings results on Wednesday, October 30th. The technology company reported $0.57 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 quarter last year, the firm posted $0.57 EPS. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year.

Insider Buying and Selling at Benchmark Electronics

In other Benchmark Electronics news, SVP Rhonda R. Turner sold 6,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $46.98, for a total transaction of $281,880.00. Following the transaction, the senior vice president now owns 47,991 shares in the company, 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 document filed with the SEC, which is available at the SEC website. Also, CEO Jeff Benck sold 24,000 shares of Benchmark Electronics stock in a transaction on Tuesday, November 5th. The stock was 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 $19,469,540.70. This trade represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BHE. Quest Partners LLC bought a new stake in Benchmark Electronics in the 2nd quarter valued at $41,000. Quarry LP boosted its stake in Benchmark Electronics by 172.5% in the 2nd quarter. Quarry LP now owns 1,379 shares of the technology company’s stock valued at $54,000 after buying an additional 873 shares in the last quarter. KBC Group NV grew its position in Benchmark Electronics by 125.3% during the 3rd quarter. KBC Group NV now owns 1,534 shares of the technology company’s stock worth $68,000 after acquiring an additional 853 shares during the last quarter. CWM LLC lifted its holdings in Benchmark Electronics by 54.2% during the 3rd quarter. CWM LLC now owns 1,706 shares of the technology company’s stock worth $76,000 after buying an additional 600 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Benchmark Electronics by 161.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,255 shares of the technology company’s stock worth $100,000 after buying an additional 1,392 shares in the last quarter. 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.