Legacy Capital Group California Inc. Cuts Stock Holdings in Benchmark Electronics, Inc. (NYSE:BHE)

Legacy Capital Group California Inc. reduced its position in Benchmark Electronics, Inc. (NYSE:BHE) by 20.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,581 shares of the technology company’s stock after selling 1,969 shares during the period. Legacy Capital Group California Inc.’s holdings in Benchmark Electronics were worth $299,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Texas Permanent School Fund Corp lifted its stake in Benchmark Electronics by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 31,229 shares of the technology company’s stock valued at $937,000 after acquiring an additional 405 shares during the period. CWM LLC boosted its holdings in Benchmark Electronics by 81.9% in the second quarter. CWM LLC now owns 1,106 shares of the technology company’s stock worth $44,000 after purchasing an additional 498 shares during the last quarter. Uncommon Cents Investing LLC grew its position in Benchmark Electronics by 4.5% in the 1st quarter. Uncommon Cents Investing LLC now owns 12,360 shares of the technology company’s stock worth $371,000 after purchasing an additional 530 shares during the period. Parallel Advisors LLC raised its stake in Benchmark Electronics by 97.9% during the 4th quarter. Parallel Advisors LLC now owns 1,144 shares of the technology company’s stock valued at $32,000 after buying an additional 566 shares during the last quarter. Finally, Keeley Teton Advisors LLC lifted its holdings in shares of Benchmark Electronics by 1.0% during the 4th quarter. Keeley Teton Advisors LLC now owns 62,915 shares of the technology company’s stock valued at $1,739,000 after buying an additional 597 shares during the period. 92.29% of the stock is owned by institutional investors.

Benchmark Electronics Price Performance

Shares of NYSE BHE traded up $0.57 during mid-day trading on Wednesday, reaching $42.01. The company’s stock had a trading volume of 93,031 shares, compared to its average volume of 330,968. The stock has a fifty day moving average of $40.83 and a two-hundred day moving average of $36.07. The firm has a market capitalization of $1.51 billion, a PE ratio of 22.64 and a beta of 0.99. Benchmark Electronics, Inc. has a 52 week low of $22.66 and a 52 week high of $48.58. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.35 and a quick ratio of 1.41.

Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. Benchmark Electronics had a net margin of 2.45% and a return on equity of 7.17%. The business had revenue of $666.00 million during the quarter, compared to analyst estimates of $635.75 million. During the same period last year, the firm posted $0.48 EPS. The company’s revenue was down 9.2% on a year-over-year basis.

Benchmark Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were given a dividend of $0.165 per share. The ex-dividend date was Friday, June 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.57%. Benchmark Electronics’s payout ratio is 36.07%.

Analysts Set New Price Targets

BHE has been the subject of a number of research reports. Lake Street Capital upped their price objective on Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Sidoti downgraded shares of Benchmark Electronics from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a report on Monday, April 29th. Needham & Company LLC boosted their price objective on shares of Benchmark Electronics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Fox Advisors cut Benchmark Electronics from an “overweight” rating to an “equal weight” rating in a report on Wednesday, May 15th. Finally, StockNews.com lowered Benchmark Electronics from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Benchmark Electronics currently has an average rating of “Hold” and an average target price of $41.33.

Benchmark Electronics Company Profile

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.