Benchmark Electronics, Inc. $BHE Stock: Jefferies Financial Group Inc. Cuts Position

Jefferies Financial Group Inc. lessened its stake in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 76.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,600 shares of the technology company’s stock after selling 45,200 shares during the period. Jefferies Financial Group Inc.’s holdings in Benchmark Electronics were worth $1,128,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BHE. Integrated Wealth Concepts LLC purchased a new position in Benchmark Electronics during the second quarter valued at $64,000. Group One Trading LLC purchased a new stake in shares of Benchmark Electronics in the second quarter worth $73,000. Sterling Capital Management LLC grew its stake in shares of Benchmark Electronics by 107.6% in the third quarter. Sterling Capital Management LLC now owns 930 shares of the technology company’s stock worth $77,000 after acquiring an additional 482 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Benchmark Electronics in the second quarter worth $112,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Benchmark Electronics during the second quarter valued at $113,000. Institutional investors own 92.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on BHE. Needham & Company LLC began coverage on Benchmark Electronics in a research report on Friday, October 23rd. They issued a “buy” rating and a $85.00 price target for the company. Zacks Research raised shares of Benchmark Electronics to a “hold” rating in a research report on Monday, October 5th. Weiss Ratings lowered shares of Benchmark Electronics from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. Finally, Wall Street Zen cut shares of Benchmark Electronics from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 31st. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.50.

Benchmark Electronics Stock Down 2.6%

BHE stock traded down $1.66 during midday trading on Friday, hitting $63.15. The company’s stock had a trading volume of 363,904 shares, compared to its average volume of 478,787. The company has a market cap of $2.26 billion, a PE ratio of 40.74, a P/E/G ratio of 1.19 and a beta of 1.40. Benchmark Electronics, Inc. has a 12 month low of $41.69 and a 12 month high of $100.41. The company has a current ratio of 1.87, a quick ratio of 1.17 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average is $74.14 and its 200-day moving average is $73.03.

Benchmark Electronics (NYSE:BHE) last issued its earnings results on Wednesday, October 28th. The technology company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.79 by $0.05. The business had revenue of $810.90 million for the quarter, compared to the consensus estimate of $776.65 million. Benchmark Electronics had a return on equity of 7.71% and a net margin of 1.90%. The company’s revenue was up 19.1% compared to the same quarter last year. During the same period last year, the business posted $0.62 EPS. On average, equities research analysts forecast that Benchmark Electronics, Inc. will post 2.48 earnings per share for the current fiscal year.

Benchmark Electronics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 13th. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, September 30th. Benchmark Electronics’s dividend payout ratio is presently 43.87%.

Benchmark Electronics Profile

Benchmark Electronics, Inc. is a provider of engineering, design, and manufacturing services for companies that develop complex products. Its services span product development and prototyping, electronics and precision manufacturing, testing, supply-chain management, and aftermarket support. The company serves customers in industries including aerospace and defense, medical technologies, industrial equipment, semiconductor capital equipment, and advanced computing and communications. Its work covers products ranging from electronic assemblies and precision components to complete systems; these are generally produced for customers rather than sold under Benchmark’s own consumer brand.