Benchmark Electronics, Inc. (NYSE:BHE) Short Interest Update

Benchmark Electronics, Inc. (NYSE:BHEGet Free Report) saw a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 757,600 shares, a growth of 7.6% from the April 15th total of 703,900 shares. Approximately 2.2% of the shares of the company are sold short. Based on an average daily volume of 333,200 shares, the days-to-cover ratio is currently 2.3 days.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Fox Advisors cut Benchmark Electronics from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. Sidoti downgraded Benchmark Electronics from a “buy” rating to a “neutral” rating and set a $33.00 target price for the company. in a research report on Monday, April 29th. StockNews.com raised Benchmark Electronics from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Finally, Needham & Company LLC boosted their price target on Benchmark Electronics from $31.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, May 6th.

Get Our Latest Stock Analysis on Benchmark Electronics

Benchmark Electronics Price Performance

NYSE:BHE traded up $0.42 during mid-day trading on Friday, reaching $41.21. The stock had a trading volume of 251,908 shares, compared to its average volume of 302,966. Benchmark Electronics has a 12 month low of $21.71 and a 12 month high of $41.58. The stock has a market capitalization of $1.49 billion, a PE ratio of 22.52 and a beta of 1.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.36 and a quick ratio of 1.41. The stock has a 50-day simple moving average of $32.17 and a two-hundred day simple moving average of $29.00.

Benchmark Electronics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were paid a $0.165 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.66 annualized dividend and a dividend yield of 1.60%. Benchmark Electronics’s payout ratio is 36.07%.

Insider Activity

In other news, CFO Arvind Kamal sold 783 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $38.38, for a total transaction of $30,051.54. Following the completion of the sale, the chief financial officer now owns 20,735 shares in the company, valued at $795,809.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Arvind Kamal sold 783 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $38.38, for a total value of $30,051.54. Following the completion of the sale, the chief financial officer now owns 20,735 shares of the company’s stock, valued at $795,809.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jan M. Janick sold 6,777 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $38.87, for a total transaction of $263,421.99. Following the completion of the transaction, the senior vice president now owns 67,774 shares in the company, valued at $2,634,375.38. The disclosure for this sale can be found here. Insiders have sold 17,560 shares of company stock valued at $688,374 over the last ninety days. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Benchmark Electronics

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in shares of Benchmark Electronics during the fourth quarter worth $7,012,000. First Trust Advisors LP increased its holdings in Benchmark Electronics by 36.9% in the 4th quarter. First Trust Advisors LP now owns 902,475 shares of the technology company’s stock worth $24,944,000 after purchasing an additional 243,480 shares in the last quarter. Circumference Group LLC bought a new position in Benchmark Electronics in the fourth quarter valued at about $6,558,000. Invesco Ltd. boosted its stake in shares of Benchmark Electronics by 17.6% during the third quarter. Invesco Ltd. now owns 1,328,401 shares of the technology company’s stock valued at $32,227,000 after purchasing an additional 199,263 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Benchmark Electronics by 3.4% during the first quarter. Vanguard Group Inc. now owns 4,845,204 shares of the technology company’s stock worth $145,405,000 after purchasing an additional 159,716 shares during the last quarter. 92.29% of the stock is currently owned by institutional investors.

About Benchmark Electronics

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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.

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