Benchmark Electronics (NYSE:BHE) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Benchmark Electronics (NYSE:BHE) from a hold rating to a buy rating in a report issued on Tuesday morning.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC increased their price target on shares of Benchmark Electronics from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Lake Street Capital upped their price objective on shares of Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Benchmark Electronics currently has a consensus rating of “Moderate Buy” and an average target price of $42.33.

Benchmark Electronics Stock Performance

NYSE BHE opened at $48.05 on Tuesday. Benchmark Electronics has a 52-week low of $24.75 and a 52-week high of $52.57. The company has a fifty day moving average of $45.71 and a 200-day moving average of $42.84. The company has a market capitalization of $1.73 billion, a P/E ratio of 27.94 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 issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. The firm had revenue of $658.00 million during the quarter, compared to analyst estimates of $650.00 million. Benchmark Electronics had a return on equity of 6.81% and a net margin of 2.32%. The company’s revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share.

Benchmark Electronics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.68 annualized dividend and a yield of 1.42%. This is an increase from Benchmark Electronics’s previous quarterly dividend of $0.17. Benchmark Electronics’s payout ratio is presently 39.53%.

Insider Activity

In other news, CEO Jeff Benck sold 24,000 shares of the 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 completion of the sale, the chief executive officer now directly owns 424,173 shares in the company, valued at approximately $19,469,540.70. This represents a 5.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Rhonda R. Turner sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $46.98, for a total value of $281,880.00. Following the completion of the sale, the senior vice president now directly owns 47,991 shares in the company, valued at $2,254,617.18. The trade was a 11.11 % 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.

Hedge Funds Weigh In On Benchmark Electronics

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Benchmark Electronics by 3.4% in the first quarter. Vanguard Group Inc. now owns 4,845,204 shares of the technology company’s stock valued at $145,405,000 after acquiring an additional 159,716 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Benchmark Electronics by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,012,717 shares of the technology company’s stock worth $118,881,000 after purchasing an additional 12,112 shares during the period. Pacer Advisors Inc. lifted its position in shares of Benchmark Electronics by 8.9% in the 3rd quarter. Pacer Advisors Inc. now owns 1,944,347 shares of the technology company’s stock worth $86,173,000 after purchasing an additional 159,659 shares during the period. Franklin Resources Inc. boosted its stake in shares of Benchmark Electronics by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,897,568 shares of the technology company’s stock valued at $84,081,000 after purchasing an additional 11,738 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Benchmark Electronics by 2.6% during the third quarter. Geode Capital Management LLC now owns 841,602 shares of the technology company’s stock valued at $37,307,000 after buying an additional 21,355 shares during the period. 92.29% of the stock is owned by hedge funds and other 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.