StockNews.com Downgrades Benchmark Electronics (NYSE:BHE) to Hold

Benchmark Electronics (NYSE:BHE) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Separately, Needham & Company LLC lifted their price objective on Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $42.33.

Benchmark Electronics Stock Down 0.8 %

Shares of BHE stock opened at $48.40 on Wednesday. The firm has a market capitalization of $1.74 billion, a PE ratio of 28.14 and a beta of 0.99. Benchmark Electronics has a fifty-two week low of $24.93 and a fifty-two week high of $52.57. The stock’s 50-day simple moving average is $46.17 and its 200-day simple moving average is $43.12. 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 analysts’ consensus estimates of $0.54 by $0.03. The company had revenue of $658.00 million for the quarter, compared to the consensus estimate of $650.00 million. Benchmark Electronics had a return on equity of 6.81% and a net margin of 2.32%. Benchmark Electronics’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.57 earnings per share.

Insider Activity

In other Benchmark Electronics news, SVP Rhonda R. Turner sold 6,000 shares of Benchmark Electronics stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $46.98, for a total transaction of $281,880.00. Following the completion of the sale, the senior vice president now directly owns 47,991 shares of the company’s stock, valued at $2,254,617.18. The trade was a 11.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeff Benck sold 24,000 shares of Benchmark Electronics stock in a transaction dated 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 of the company’s stock, valued at $19,469,540.70. This trade represents 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

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in Benchmark Electronics by 0.4% during 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. grew its holdings 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 acquiring an additional 159,659 shares during the period. Franklin Resources Inc. grew its holdings in shares of Benchmark Electronics by 0.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,897,568 shares of the technology company’s stock worth $84,081,000 after acquiring an additional 11,738 shares during the period. Geode Capital Management LLC lifted its stake in Benchmark Electronics by 2.6% in the 3rd 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 in the last quarter. Finally, Wasatch Advisors LP lifted its stake in Benchmark Electronics by 19.5% in the 3rd quarter. Wasatch Advisors LP now owns 820,493 shares of the technology company’s stock valued at $36,364,000 after buying an additional 133,602 shares in the last quarter. 92.29% of the stock is owned by hedge funds and other institutional investors.

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.