Benchmark Electronics (NYSE:BHE) Given New $48.00 Price Target at Needham & Company LLC

Benchmark Electronics (NYSE:BHE) had its price target hoisted by Needham & Company LLC from $45.00 to $48.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 10.85% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. StockNews.com upgraded Benchmark Electronics from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Lake Street Capital increased their target price on shares of Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.33.

Benchmark Electronics Stock Performance

Shares of Benchmark Electronics stock opened at $43.30 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.42 and a current ratio of 2.35. Benchmark Electronics has a 1 year low of $23.62 and a 1 year high of $48.58. The firm’s 50-day simple moving average is $43.09 and its 200-day simple moving average is $40.73. The firm has a market cap of $1.56 billion, a PE ratio of 25.17 and a beta of 0.98.

Benchmark Electronics (NYSE:BHE) last released its earnings results on Tuesday, July 30th. The technology company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. Benchmark Electronics had a return on equity of 6.84% and a net margin of 2.32%. The company had revenue of $666.00 million for the quarter, compared to the consensus estimate of $635.75 million. During the same quarter last year, the business posted $0.48 EPS. Benchmark Electronics’s quarterly revenue was down 9.2% compared to the same quarter last year.

Insiders Place Their Bets

In related news, Director Jeffrey Stephen Mccreary sold 7,073 shares of Benchmark Electronics stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.70, for a total value of $302,017.10. Following the sale, the director now directly owns 42,027 shares in the company, valued at $1,794,552.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Benchmark Electronics

Large investors have recently added to or reduced their stakes in the business. UMB Bank n.a. increased its stake in Benchmark Electronics by 65.7% during the 2nd quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock valued at $27,000 after buying an additional 272 shares during the period. Quest Partners LLC acquired a new position in shares of Benchmark Electronics during the second quarter valued at approximately $41,000. CWM LLC raised its holdings 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 purchasing an additional 498 shares in the last quarter. Quarry LP lifted its position in 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 purchasing an additional 873 shares during the period. Finally, Innealta Capital LLC bought a new position in Benchmark Electronics during the 2nd quarter valued at $61,000. 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.