Short Interest in Benchmark Electronics, Inc. (NYSE:BHE) Drops By 6.4%

Benchmark Electronics, Inc. (NYSE:BHE) was the target of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 1,170,000 shares, a decline of 6.4% from the January 15th total of 1,250,000 shares. Based on an average trading volume of 253,400 shares, the short-interest ratio is currently 4.6 days. Currently, 3.4% of the company’s shares are short sold.

Insider Activity

In other news, CEO Jeff Benck sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $45.31, for a total value of $271,860.00. Following the sale, the chief executive officer now directly owns 418,173 shares of the company’s stock, valued at approximately $18,947,418.63. The trade was a 1.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BHE. Boston Partners boosted its holdings in shares of Benchmark Electronics by 569.5% in the 4th quarter. Boston Partners now owns 416,831 shares of the technology company’s stock valued at $17,638,000 after buying an additional 354,567 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Benchmark Electronics by 45.2% during the 4th quarter. JPMorgan Chase & Co. now owns 815,499 shares of the technology company’s stock worth $37,024,000 after purchasing an additional 253,730 shares during the period. American Century Companies Inc. boosted its stake in Benchmark Electronics by 16.9% during the 4th quarter. American Century Companies Inc. now owns 1,153,257 shares of the technology company’s stock worth $52,358,000 after purchasing an additional 166,967 shares during the period. Millennium Management LLC boosted its stake in Benchmark Electronics by 90.4% during the 4th quarter. Millennium Management LLC now owns 336,466 shares of the technology company’s stock worth $15,276,000 after purchasing an additional 159,769 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in Benchmark Electronics by 8.9% during the 3rd quarter. Pacer Advisors Inc. now owns 1,944,347 shares of the technology company’s stock worth $86,173,000 after purchasing an additional 159,659 shares during the period. Institutional investors and hedge funds own 92.29% of the company’s stock.

Benchmark Electronics Stock Up 0.3 %

NYSE BHE traded up $0.14 on Tuesday, hitting $41.74. 33,682 shares of the stock were exchanged, compared to its average volume of 237,940. The company has a quick ratio of 1.46, a current ratio of 2.32 and a debt-to-equity ratio of 0.24. Benchmark Electronics has a fifty-two week low of $27.44 and a fifty-two week high of $52.57. The company has a market cap of $1.50 billion, a PE ratio of 24.12 and a beta of 0.99. The company has a 50-day moving average price of $45.39 and a 200-day moving average price of $44.72.

Benchmark Electronics (NYSE:BHE) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.55 earnings per share (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 6.68%.

Benchmark Electronics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Tuesday, December 31st. Benchmark Electronics’s payout ratio is 39.31%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Needham & Company LLC upped their target price on shares of Benchmark Electronics from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. StockNews.com raised shares of 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Benchmark Electronics presently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

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.