Benchmark Electronics (NYSE:BHE) Downgraded to “Hold” Rating by StockNews.com

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

BHE has been the subject of several other reports. Lake Street Capital raised their target price on shares of Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $42.33.

Benchmark Electronics Price Performance

BHE stock opened at $46.85 on Monday. The firm has a 50 day moving average of $44.64 and a 200-day moving average of $42.31. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 27.24 and a beta of 0.97. 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 12-month low of $24.75 and a 12-month high of $52.57.

Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings data 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 analysts’ expectations 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 was down 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.57 earnings per share.

Benchmark Electronics Increases Dividend

The company also recently declared 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. 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 1.45%. The ex-dividend date was Monday, September 30th. Benchmark Electronics’s dividend payout ratio (DPR) is currently 39.53%.

Insider Buying and Selling at Benchmark Electronics

In other Benchmark Electronics news, CEO Jeff Benck sold 24,000 shares of Benchmark Electronics stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $45.90, for a total value of $1,101,600.00. Following the transaction, the chief executive officer now owns 424,173 shares in the company, valued at $19,469,540.70. This trade represents a 5.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey Stephen Mccreary sold 7,073 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.70, for a total value of $302,017.10. Following the sale, the director now owns 42,027 shares of the company’s stock, valued at approximately $1,794,552.90. The trade was a 14.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Benchmark Electronics

A number of institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its stake in shares of Benchmark Electronics by 65.7% in the 2nd 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 in the last quarter. Quest Partners LLC acquired a new position in Benchmark Electronics during the second quarter valued at approximately $41,000. CWM LLC grew its stake in Benchmark Electronics by 81.9% during the second quarter. CWM LLC now owns 1,106 shares of the technology company’s stock worth $44,000 after buying an additional 498 shares during the period. Quarry LP increased its position in shares of Benchmark Electronics by 172.5% in the second quarter. Quarry LP now owns 1,379 shares of the technology company’s stock worth $54,000 after acquiring an additional 873 shares in the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Benchmark Electronics in the 2nd quarter valued at $61,000. Hedge funds and other 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.