Needham & Company LLC Boosts Benchmark Electronics (NYSE:BHE) Price Target to $50.00

Benchmark Electronics (NYSE:BHE) had its price objective boosted by investment analysts at Needham & Company LLC from $48.00 to $50.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 14.28% from the stock’s previous close.

Separately, StockNews.com raised Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Benchmark Electronics has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Benchmark Electronics Price Performance

Shares of Benchmark Electronics stock opened at $43.75 on Thursday. The company has a current ratio of 2.36, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. The firm has a fifty day simple moving average of $47.05 and a 200-day simple moving average of $44.74. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 25.44 and a beta of 1.00. Benchmark Electronics has a 1-year low of $26.93 and a 1-year high of $52.57.

Benchmark Electronics (NYSE:BHE) last released its earnings results on Wednesday, January 29th. The technology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Benchmark Electronics had a return on equity of 6.81% and a net margin of 2.32%.

Insider Activity at Benchmark Electronics

In other Benchmark Electronics news, CEO Jeff Benck sold 6,000 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $45.31, for a total value of $271,860.00. Following the sale, the chief executive officer now directly owns 418,173 shares in the company, valued at $18,947,418.63. This represents a 1.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 36,000 shares of company stock valued at $1,655,340 over the last quarter. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Benchmark Electronics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in Benchmark Electronics by 55.2% in the third quarter. Victory Capital Management Inc. now owns 39,439 shares of the technology company’s stock valued at $1,748,000 after buying an additional 14,020 shares in the last quarter. FMR LLC raised its stake in shares of Benchmark Electronics by 27.3% in the third quarter. FMR LLC now owns 120,126 shares of the technology company’s stock valued at $5,324,000 after acquiring an additional 25,769 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Benchmark Electronics by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 841,602 shares of the technology company’s stock worth $37,307,000 after acquiring an additional 21,355 shares in the last quarter. Algert Global LLC grew its position in Benchmark Electronics by 428.1% during the 3rd quarter. Algert Global LLC now owns 32,887 shares of the technology company’s stock worth $1,458,000 after acquiring an additional 26,660 shares during the last quarter. Finally, Barclays PLC increased its holdings in Benchmark Electronics by 128.8% during the 3rd quarter. Barclays PLC now owns 86,024 shares of the technology company’s stock valued at $3,814,000 after purchasing an additional 48,425 shares in the last quarter. Institutional investors and hedge funds own 92.29% of the company’s stock.

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.