Benchmark Electronics, Inc. (NYSE:BHE) had its price target increased by equities researchers at Royal Bank Of Canada from $33.00 to $37.00 in a research report issued to clients and investors on Thursday, July 20th, MarketBeat.com reports. The brokerage currently has a “sector perform” rating on the technology company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 16.17% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the company. Needham & Company LLC raised their target price on Benchmark Electronics from $34.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. BidaskClub downgraded Benchmark Electronics from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Benchmark Electronics has a consensus rating of “Hold” and an average price target of $33.25.
Shares of Benchmark Electronics (NYSE:BHE) traded up 0.863% during mid-day trading on Thursday, reaching $32.125. The company had a trading volume of 160,841 shares. The stock has a market capitalization of $1.60 billion, a P/E ratio of 23.621 and a beta of 0.51. The firm’s 50 day moving average is $33.08 and its 200-day moving average is $32.24. Benchmark Electronics has a 12-month low of $23.22 and a 12-month high of $35.25.
Benchmark Electronics (NYSE:BHE) last issued its earnings results on Wednesday, July 19th. The technology company reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.04. The firm had revenue of $616.90 million for the quarter, compared to the consensus estimate of $577 million. Benchmark Electronics had a return on equity of 5.59% and a net margin of 2.84%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 EPS. On average, analysts expect that Benchmark Electronics will post $1.49 earnings per share for the current fiscal year.
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In related news, CFO Donald Francis Adam sold 61,572 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $33.60, for a total transaction of $2,068,819.20. Following the sale, the chief financial officer now owns 112,856 shares of the company’s stock, valued at approximately $3,791,961.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Adams Diversified Equity Fund Inc. increased its stake in Benchmark Electronics by 7.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 40,200 shares of the technology company’s stock valued at $1,278,000 after buying an additional 2,900 shares during the period. Russell Investments Group Ltd. increased its stake in Benchmark Electronics by 0.4% in the first quarter. Russell Investments Group Ltd. now owns 339,387 shares of the technology company’s stock valued at $10,793,000 after buying an additional 1,328 shares during the period. Malaga Cove Capital LLC increased its stake in Benchmark Electronics by 79.7% in the first quarter. Malaga Cove Capital LLC now owns 40,507 shares of the technology company’s stock valued at $1,268,000 after buying an additional 17,963 shares during the period. Meritage Portfolio Management purchased a new stake in Benchmark Electronics during the first quarter valued at $2,769,000. Finally, Acadian Asset Management LLC increased its stake in Benchmark Electronics by 44.7% in the first quarter. Acadian Asset Management LLC now owns 1,023,693 shares of the technology company’s stock valued at $32,553,000 after buying an additional 316,215 shares during the period. 96.00% of the stock is currently owned by institutional investors.
Benchmark Electronics Company Profile
Benchmark Electronics, Inc is a provider of electronic manufacturing services. The Company operates through three segments: the Americas, Asia and Europe. It provides services to original equipment manufacturers of industrial control equipment, including equipment for the aerospace and defense industry; telecommunication equipment; computers and related products for business enterprises; medical devices, and testing and instrumentation products.
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