Benchmark Electronics (NYSE:BHE) Shares Gap Up Following Analyst Upgrade

Benchmark Electronics, Inc. (NYSE:BHE)’s stock price gapped up before the market opened on Thursday after Needham & Company LLC raised their price target on the stock from $48.00 to $50.00. The stock had previously closed at $43.64, but opened at $46.00. Needham & Company LLC currently has a buy rating on the stock. Benchmark Electronics shares last traded at $44.80, with a volume of 43,632 shares changing hands.

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

Insider Buying and Selling at Benchmark Electronics

In related news, SVP Rhonda R. Turner sold 6,000 shares of Benchmark Electronics stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $46.98, for a total transaction of $281,880.00. Following the sale, the senior vice president now owns 47,991 shares of the company’s stock, valued at approximately $2,254,617.18. This trade represents a 11.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeff Benck sold 24,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $45.90, for a total value of $1,101,600.00. Following the transaction, the chief executive officer now owns 424,173 shares of the company’s stock, valued at approximately $19,469,540.70. The trade was a 5.36 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,000 shares of company stock worth $1,655,340. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Benchmark Electronics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new position in Benchmark Electronics during the second quarter valued at $2,459,000. Millennium Management LLC grew its stake in shares of Benchmark Electronics by 85.9% during the second quarter. Millennium Management LLC now owns 446,176 shares of the technology company’s stock valued at $17,606,000 after buying an additional 206,114 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Benchmark Electronics in the second quarter worth approximately $246,000. Creative Planning lifted its stake in shares of Benchmark Electronics by 36.2% during the 2nd quarter. Creative Planning now owns 49,045 shares of the technology company’s stock worth $1,935,000 after acquiring an additional 13,041 shares during the last quarter. Finally, Quarry LP grew its position in Benchmark Electronics by 172.5% in the 2nd quarter. Quarry LP now owns 1,379 shares of the technology company’s stock valued at $54,000 after acquiring an additional 873 shares during the last quarter. 92.29% of the stock is owned by institutional investors.

Benchmark Electronics Price Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 2.36 and a quick ratio of 1.45. The firm has a fifty day moving average of $47.05 and a two-hundred day moving average of $44.74. The stock has a market capitalization of $1.62 billion, a P/E ratio of 26.15 and a beta of 1.00.

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

Benchmark Electronics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were issued a $0.17 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.51%. Benchmark Electronics’s dividend payout ratio is presently 39.53%.

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.