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

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

Other equities analysts have also issued reports about the company. Lake Street Capital increased their price target on Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Needham & Company LLC upped their price objective on Benchmark Electronics from $45.00 to $48.00 and gave the company 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 given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $42.33.

Benchmark Electronics Stock Performance

BHE opened at $46.53 on Friday. Benchmark Electronics has a 12-month low of $23.62 and a 12-month high of $48.58. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 27.05 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. The company’s 50 day moving average is $43.29 and its 200 day moving average is $41.23.

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, beating analysts’ consensus estimates of $0.54 by $0.03. Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%. The firm had revenue of $658.00 million during the quarter, compared to the consensus estimate of $650.00 million. During the same quarter in the previous year, the firm posted $0.57 EPS. The company’s revenue for the quarter was down 8.6% compared to the same quarter last year.

Benchmark Electronics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Monday, September 30th. This is a positive change from Benchmark Electronics’s previous quarterly dividend of $0.17. Benchmark Electronics’s payout ratio is 39.53%.

Insider Transactions at Benchmark Electronics

In other Benchmark Electronics news, Director Jeffrey Stephen Mccreary sold 7,073 shares of Benchmark Electronics stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $42.70, for a total transaction of $302,017.10. Following the completion of 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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BHE. Vanguard Group Inc. increased its stake in Benchmark Electronics by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 4,685,488 shares of the technology company’s stock worth $129,507,000 after buying an additional 58,266 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Benchmark Electronics by 15.3% during the 1st quarter. BNP Paribas Financial Markets now owns 49,710 shares of the technology company’s stock worth $1,492,000 after buying an additional 6,592 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Benchmark Electronics by 13.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,563 shares of the technology company’s stock worth $287,000 after purchasing an additional 1,161 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in Benchmark Electronics by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 31,229 shares of the technology company’s stock valued at $937,000 after acquiring an additional 405 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in shares of Benchmark Electronics during the first quarter worth $224,000. 92.29% of the stock is currently 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.