Benchmark Electronics (NYSE:BHE) Price Target Increased to $45.00 by Analysts at Needham & Company LLC

Benchmark Electronics (NYSE:BHE) had its price target lifted by Needham & Company LLC from $40.00 to $45.00 in a research note published on Wednesday, Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

A number of other research firms also recently weighed in on BHE. Sidoti downgraded shares of Benchmark Electronics from a buy rating to a neutral rating and set a $33.00 price target for the company. in a research report on Monday, April 29th. Fox Advisors cut Benchmark Electronics from an overweight rating to an equal weight rating in a research note on Wednesday, May 15th. Finally, StockNews.com cut Benchmark Electronics from a buy rating to a hold rating in a research note on Friday, July 19th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $41.33.

Benchmark Electronics Stock Down 5.0 %

Shares of NYSE:BHE opened at $41.48 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 0.26. Benchmark Electronics has a 52-week low of $22.66 and a 52-week high of $48.58. The company has a 50 day moving average of $41.03 and a two-hundred day moving average of $34.82. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 22.67 and a beta of 0.99.

Benchmark Electronics (NYSE:BHE) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. Benchmark Electronics had a net margin of 2.45% and a return on equity of 7.17%. The business had revenue of $666.00 million during the quarter, compared to the consensus estimate of $635.75 million. During the same quarter last year, the company earned $0.48 earnings per share. The business’s quarterly revenue was down 9.2% compared to the same quarter last year.

Benchmark Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Friday, June 28th. Benchmark Electronics’s payout ratio is 36.07%.

Insider Buying and Selling at Benchmark Electronics

In other Benchmark Electronics news, CFO Arvind Kamal sold 783 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $38.38, for a total value of $30,051.54. Following the sale, the chief financial officer now directly owns 20,735 shares in the company, valued at $795,809.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Jeffrey Stephen Mccreary sold 10,000 shares of Benchmark Electronics stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $39.49, for a total transaction of $394,900.00. Following the sale, the director now directly owns 45,062 shares in the company, valued at $1,779,498.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Arvind Kamal sold 783 shares of Benchmark Electronics stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $38.38, for a total transaction of $30,051.54. Following the sale, the chief financial officer now owns 20,735 shares in the company, valued at $795,809.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,560 shares of company stock worth $688,374. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Benchmark Electronics

A number of hedge funds and other institutional investors have recently modified their holdings of BHE. Trust Point Inc. bought a new stake in shares of Benchmark Electronics during the fourth quarter valued at about $445,000. Camelot Portfolios LLC acquired a new position in Benchmark Electronics during the fourth quarter worth about $242,000. Nisa Investment Advisors LLC grew its holdings in Benchmark Electronics by 1.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 28,848 shares of the technology company’s stock worth $797,000 after acquiring an additional 500 shares during the period. Louisiana State Employees Retirement System acquired a new position in Benchmark Electronics during the fourth quarter worth about $495,000. Finally, Everence Capital Management Inc. acquired a new position in Benchmark Electronics during the fourth quarter worth about $223,000. 92.29% of the stock is currently owned by institutional investors.

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.