Needham & Company LLC Forecasts Strong Price Appreciation for Benchmark Electronics (NYSE:BHE) Stock

Benchmark Electronics (NYSE:BHE) had its price objective raised by analysts at Needham & Company LLC from $45.00 to $48.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 4.53% from the company’s previous close.

A number of other brokerages have also issued reports on BHE. StockNews.com upgraded shares of Benchmark Electronics from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Lake Street Capital boosted their price target on shares of Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Benchmark Electronics presently has an average rating of “Hold” and an average target price of $42.33.

Benchmark Electronics Stock Up 6.1 %

Shares of NYSE:BHE opened at $45.92 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.35 and a quick ratio of 1.42. The firm has a market capitalization of $1.66 billion, a PE ratio of 26.70 and a beta of 0.98. The firm’s 50-day moving average is $43.15 and its two-hundred day moving average is $40.92. Benchmark Electronics has a 1 year low of $23.62 and a 1 year high of $48.58.

Insider Transactions at Benchmark Electronics

In related news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $42.70, for a total value of $302,017.10. Following the completion of the transaction, the director now directly owns 42,027 shares of the company’s stock, valued at $1,794,552.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Benchmark Electronics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BHE. UMB Bank n.a. boosted its holdings in Benchmark Electronics by 65.7% in the second quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock valued at $27,000 after purchasing an additional 272 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Benchmark Electronics in the second quarter valued at approximately $41,000. CWM LLC boosted its holdings in shares of Benchmark Electronics by 81.9% in the second quarter. CWM LLC now owns 1,106 shares of the technology company’s stock valued at $44,000 after acquiring an additional 498 shares during the period. Quarry LP boosted its holdings in shares of 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 acquiring an additional 873 shares during the period. Finally, Innealta Capital LLC acquired a new stake in shares of Benchmark Electronics in the second quarter valued at approximately $61,000. 92.29% of the stock is 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.