Benchmark Electronics, Inc. (NYSE:BHE) Short Interest Up 6.5% in September

Benchmark Electronics, Inc. (NYSE:BHE) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 906,700 shares, an increase of 6.5% from the August 31st total of 851,100 shares. Based on an average trading volume of 284,800 shares, the days-to-cover ratio is presently 3.2 days. Currently, 2.6% of the company’s shares are sold short.

Benchmark Electronics Stock Performance

BHE opened at $43.06 on Wednesday. The company has a market cap of $1.55 billion, a P/E ratio of 23.51 and a beta of 0.98. The company has a quick ratio of 1.42, a current ratio of 2.35 and a debt-to-equity ratio of 0.26. The firm’s 50-day moving average price is $42.18 and its 200-day moving average price is $38.57. Benchmark Electronics has a 52-week low of $22.66 and a 52-week high of $48.58.

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

Benchmark Electronics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.58%. This is a boost from Benchmark Electronics’s previous quarterly dividend of $0.17. Benchmark Electronics’s payout ratio is currently 37.16%.

Insider Buying and Selling

In related news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.70, for a total transaction of $302,017.10. Following the transaction, the director now owns 42,027 shares in the company, valued at $1,794,552.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Benchmark Electronics

Institutional investors have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Benchmark Electronics in the second quarter valued at approximately $1,144,000. Truist Financial Corp lifted its holdings in Benchmark Electronics by 51.4% during the 2nd quarter. Truist Financial Corp now owns 10,965 shares of the technology company’s stock worth $433,000 after buying an additional 3,721 shares during the last quarter. Quarry LP boosted its holdings in Benchmark Electronics by 172.5% in the second quarter. Quarry LP now owns 1,379 shares of the technology company’s stock valued at $54,000 after purchasing an additional 873 shares in the last quarter. Creative Planning lifted its position 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 buying an additional 13,041 shares during the last quarter. Finally, Algert Global LLC acquired a new position in shares of Benchmark Electronics in the 2nd quarter valued at $246,000. 92.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on BHE. Lake Street Capital boosted their target price on Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC lifted their target price on Benchmark Electronics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, StockNews.com lowered Benchmark Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $41.33.

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.