Benchmark Electronics (NYSE:BHE) Upgraded at StockNews.com

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

Separately, Needham & Company LLC raised their target price on Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.33.

Benchmark Electronics Stock Performance

Shares of NYSE BHE opened at $47.18 on Tuesday. Benchmark Electronics has a 52 week low of $25.35 and a 52 week high of $52.57. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 2.36. The business’s 50-day simple moving average is $47.16 and its 200-day simple moving average is $43.59. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 27.43 and a beta of 0.99.

Benchmark Electronics (NYSE:BHE) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. Benchmark Electronics had a return on equity of 6.81% and a net margin of 2.32%. The business had revenue of $658.00 million for the quarter, compared to analyst estimates of $650.00 million. During the same period in the previous year, the company posted $0.57 earnings per share. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis.

Benchmark Electronics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.68 dividend on an annualized basis and a yield of 1.44%. Benchmark Electronics’s dividend payout ratio is 39.53%.

Insider Activity at Benchmark Electronics

In other Benchmark Electronics news, SVP Rhonda R. Turner sold 6,000 shares of the business’s 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 approximately $2,254,617.18. The trade was a 11.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeff Benck sold 24,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 424,173 shares in the company, valued at approximately $19,469,540.70. The trade was a 5.36 % 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 company insiders.

Institutional Investors Weigh In On Benchmark Electronics

Several hedge funds have recently bought and sold shares of BHE. Raymond James & Associates bought a new position in Benchmark Electronics during the 2nd quarter worth about $2,642,000. Louisiana State Employees Retirement System increased its holdings in shares of Benchmark Electronics by 2.3% in the second quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the technology company’s stock valued at $714,000 after purchasing an additional 400 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Benchmark Electronics by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 481,062 shares of the technology company’s stock valued at $18,983,000 after acquiring an additional 12,789 shares during the period. Miller Howard Investments Inc. NY increased its stake in shares of Benchmark Electronics by 1.8% during the second quarter. Miller Howard Investments Inc. NY now owns 15,244 shares of the technology company’s stock worth $602,000 after purchasing an additional 263 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Benchmark Electronics by 96.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,827 shares of the technology company’s stock worth $388,000 after buying an additional 4,828 shares during the period. 92.29% of the stock is currently owned by institutional investors and hedge funds.

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.