Benchmark Electronics (NYSE:BHE) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Benchmark Electronics (NYSE:BHE) from a buy rating to a hold rating in a research note released on Monday.

BHE has been the topic of several other reports. Lake Street Capital lifted their price objective on Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Needham & Company LLC lifted their price target on shares of Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Benchmark Electronics has a consensus rating of “Hold” and a consensus target price of $42.33.

Benchmark Electronics Trading Down 0.4 %

NYSE BHE opened at $46.85 on Monday. The stock has a market cap of $1.69 billion, a P/E ratio of 27.24 and a beta of 0.97. The company’s fifty day simple moving average is $44.64 and its 200-day simple moving average is $42.31. The company has a current ratio of 2.36, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. Benchmark Electronics has a 52 week low of $24.75 and a 52 week high of $52.57.

Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The firm had revenue of $658.00 million for the quarter, compared to analyst estimates of $650.00 million. Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%. The firm’s revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 EPS.

Benchmark Electronics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.68 annualized dividend and a yield of 1.45%. This is a boost from Benchmark Electronics’s previous quarterly dividend of $0.17. Benchmark Electronics’s dividend payout ratio is presently 39.53%.

Insider Transactions at Benchmark Electronics

In other Benchmark Electronics news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.70, for a total value of $302,017.10. Following the transaction, the director now owns 42,027 shares of the company’s stock, valued at $1,794,552.90. This trade represents a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeff Benck sold 24,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were 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 directly owns 424,173 shares of the company’s stock, valued at $19,469,540.70. The trade was a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Institutional Trading of Benchmark Electronics

Several hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. increased its holdings in shares of Benchmark Electronics by 65.7% during the second quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock valued at $27,000 after purchasing an additional 272 shares during the period. Quest Partners LLC bought a new stake in shares of Benchmark Electronics during the 2nd quarter worth about $41,000. CWM LLC boosted its holdings in shares of Benchmark Electronics by 81.9% in the second quarter. CWM LLC now owns 1,106 shares of the technology company’s stock valued at $44,000 after acquiring an additional 498 shares in the last quarter. Quarry LP raised 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 worth $54,000 after purchasing an additional 873 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Benchmark Electronics in the second quarter worth approximately $61,000. Institutional investors own 92.29% of the company’s stock.

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.