Needham & Company LLC Forecasts Strong Price Appreciation for Benchmark Electronics (NYSE:BHE) Stock

Benchmark Electronics (NYSE:BHE) had its price objective lifted by investment analysts at Needham & Company LLC from $48.00 to $50.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target suggests a potential upside of 17.07% from the stock’s previous close.

Separately, StockNews.com upgraded Benchmark Electronics from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Benchmark Electronics has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Benchmark Electronics Price Performance

Shares of NYSE BHE opened at $42.71 on Thursday. Benchmark Electronics has a 52 week low of $27.04 and a 52 week high of $52.57. The business’s 50 day moving average price is $46.84 and its 200 day moving average price is $44.74. The company has a quick ratio of 1.45, a current ratio of 2.36 and a debt-to-equity ratio of 0.25. The firm has a market cap of $1.54 billion, a P/E ratio of 24.69 and a beta of 1.00.

Benchmark Electronics (NYSE:BHE) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). Benchmark Electronics had a net margin of 2.38% and a return on equity of 6.71%.

Insider Activity at Benchmark Electronics

In other Benchmark Electronics news, CEO Jeff Benck sold 24,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 424,173 shares in the company, valued at approximately $19,469,540.70. This represents a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Rhonda R. Turner sold 6,000 shares of the business’s stock in a transaction that occurred 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 sale, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,000 shares of company stock worth $1,655,340. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Benchmark Electronics

A number of institutional investors have recently added to or reduced their stakes in BHE. Quarry LP lifted its holdings in Benchmark Electronics by 172.5% during the second quarter. Quarry LP now owns 1,379 shares of the technology company’s stock valued at $54,000 after purchasing an additional 873 shares in the last quarter. KBC Group NV raised its position in shares of 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 purchasing an additional 853 shares during the last quarter. CWM LLC lifted its stake in Benchmark Electronics by 54.2% in the 3rd quarter. CWM LLC now owns 1,706 shares of the technology company’s stock valued at $76,000 after buying an additional 600 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Benchmark Electronics by 161.3% in 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 during the last quarter. Finally, Highland Capital Management LLC purchased a new stake in Benchmark Electronics during the 3rd quarter worth approximately $234,000. Institutional investors and hedge funds own 92.29% of the company’s stock.

Benchmark Electronics Company Profile

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.