Benchmark Electronics (NYSE:BHE) Reaches New 52-Week High – Still a Buy?

Benchmark Electronics, Inc. (NYSE:BHE) reached a new 52-week high during trading on Wednesday . The company traded as high as $50.67 and last traded at $50.67, with a volume of 3718 shares. The stock had previously closed at $46.53.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Lake Street Capital increased their target price on shares of Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com downgraded shares of Benchmark Electronics from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Finally, 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 issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $42.33.

Benchmark Electronics Price Performance

The company’s 50 day moving average price is $43.65 and its 200-day moving average price is $41.37. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 29.90 and a beta of 0.97. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 2.36.

Benchmark Electronics (NYSE:BHE) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The business 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%. Benchmark Electronics’s revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share.

Benchmark Electronics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from Benchmark Electronics’s previous quarterly dividend of $0.17. This represents a $0.68 annualized dividend and a dividend yield of 1.31%. Benchmark Electronics’s dividend payout ratio (DPR) is currently 39.53%.

Insider Activity at Benchmark Electronics

In related news, CEO Jeff Benck sold 24,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $45.90, for a total value of $1,101,600.00. Following the sale, the chief executive officer now directly owns 424,173 shares in the company, valued at $19,469,540.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other 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 completion of the sale, the director now directly owns 42,027 shares of the company’s stock, valued at approximately $1,794,552.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeff Benck sold 24,000 shares of Benchmark Electronics stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $45.90, for a total transaction of $1,101,600.00. Following the completion of the sale, the chief executive officer now owns 424,173 shares of the company’s stock, valued at $19,469,540.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

Institutional Trading of Benchmark Electronics

A number of institutional investors and hedge funds have recently bought and sold shares of BHE. Empowered Funds LLC lifted its holdings in Benchmark Electronics by 61.4% during the 1st quarter. Empowered Funds LLC now owns 75,682 shares of the technology company’s stock valued at $2,271,000 after buying an additional 28,784 shares in the last quarter. UniSuper Management Pty Ltd purchased a new stake in shares of Benchmark Electronics in the first quarter worth about $430,000. Millennium Management LLC grew its position in shares of Benchmark Electronics by 85.9% during the 2nd quarter. Millennium Management LLC now owns 446,176 shares of the technology company’s stock valued at $17,606,000 after acquiring an additional 206,114 shares during the period. Raymond James & Associates purchased a new stake in shares of Benchmark Electronics during the second quarter worth about $2,642,000. Finally, Versor Investments LP acquired a new stake in shares of Benchmark Electronics in the second quarter valued at about $545,000. 92.29% of the stock is currently owned by institutional investors.

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.