Short Interest in Benchmark Electronics, Inc. (NYSE:BHE) Decreases By 6.4%

Benchmark Electronics, Inc. (NYSE:BHE) was the target of a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 1,170,000 shares, a drop of 6.4% from the January 15th total of 1,250,000 shares. Currently, 3.4% of the company’s stock are sold short. Based on an average daily trading volume, of 253,400 shares, the days-to-cover ratio is currently 4.6 days.

Insider Activity at Benchmark Electronics

In related news, CEO Jeff Benck sold 6,000 shares of Benchmark Electronics stock in a transaction on Monday, January 13th. The shares were sold at an average price of $45.31, for a total transaction of $271,860.00. Following the sale, the chief executive officer now owns 418,173 shares of the company’s stock, valued at $18,947,418.63. The trade was a 1.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Benchmark Electronics

A number of institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in Benchmark Electronics by 55.2% during 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 grew its stake in shares of Benchmark Electronics by 27.3% in the 3rd quarter. FMR LLC now owns 120,126 shares of the technology company’s stock worth $5,324,000 after purchasing an additional 25,769 shares during the last quarter. Geode Capital Management LLC raised 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 purchasing an additional 21,355 shares in the last quarter. Algert Global LLC lifted its stake in Benchmark Electronics by 428.1% during the third quarter. Algert Global LLC now owns 32,887 shares of the technology company’s stock valued at $1,458,000 after purchasing an additional 26,660 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Benchmark Electronics by 128.8% during the third quarter. Barclays PLC now owns 86,024 shares of the technology company’s stock worth $3,814,000 after buying an additional 48,425 shares in the last quarter. 92.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BHE shares. StockNews.com upgraded Benchmark Electronics from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Needham & Company LLC lifted their target price on Benchmark Electronics from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Benchmark Electronics Trading Up 1.2 %

Shares of BHE stock opened at $42.11 on Wednesday. Benchmark Electronics has a 1 year low of $27.44 and a 1 year high of $52.57. The firm has a market capitalization of $1.52 billion, a PE ratio of 24.34 and a beta of 0.99. The stock has a fifty day moving average of $45.39 and a two-hundred day moving average of $44.72. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.46 and a current ratio of 2.32.

Benchmark Electronics (NYSE:BHE) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Benchmark Electronics had a net margin of 2.38% and a return on equity of 6.68%.

Benchmark Electronics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were issued a dividend of $0.17 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.68 annualized dividend and a yield of 1.61%. Benchmark Electronics’s payout ratio is 39.31%.

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.