Benchmark Electronics (NYSE:BHE) Lowered to “Hold” Rating by StockNews.com

Benchmark Electronics (NYSE:BHE) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

BHE has been the subject of a number of other reports. Lake Street Capital increased their target price on shares of Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC increased their target price on shares of Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Benchmark Electronics has an average rating of “Hold” and a consensus target price of $42.33.

Benchmark Electronics Stock Down 0.4 %

Shares of NYSE BHE traded down $0.21 during trading hours on Monday, hitting $46.85. 210,711 shares of the stock were exchanged, compared to its average volume of 308,281. The company has a quick ratio of 1.45, a current ratio of 2.36 and a debt-to-equity ratio of 0.25. The company has a market cap of $1.69 billion, a PE ratio of 27.24 and a beta of 0.97. The firm has a fifty day moving average price of $44.64 and a 200-day moving average price of $42.31. Benchmark Electronics has a 12 month low of $24.75 and a 12 month high of $52.57.

Benchmark Electronics (NYSE:BHE) last released its earnings results on Wednesday, October 30th. The technology company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.03. The company had revenue of $658.00 million for the quarter, compared to the consensus estimate of $650.00 million. Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%. Benchmark Electronics’s revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 EPS.

Insider Transactions at Benchmark Electronics

In related news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the stock in a transaction dated 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 sale, the director now directly owns 42,027 shares of the company’s stock, valued at approximately $1,794,552.90. This represents a 14.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeff Benck sold 24,000 shares of the 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 directly owns 424,173 shares in the company, valued at approximately $19,469,540.70. This represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC increased its position in Benchmark Electronics by 13.8% during the first quarter. Janney Montgomery Scott LLC now owns 9,563 shares of the technology company’s stock worth $287,000 after buying an additional 1,161 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Benchmark Electronics during the first quarter worth $224,000. SG Americas Securities LLC bought a new stake in Benchmark Electronics during the first quarter worth $136,000. Sei Investments Co. lifted its stake in shares of Benchmark Electronics by 6.9% in the 1st quarter. Sei Investments Co. now owns 108,492 shares of the technology company’s stock valued at $3,256,000 after acquiring an additional 6,976 shares during the last quarter. Finally, ProShare Advisors LLC bought a new position in shares of Benchmark Electronics in the 1st quarter valued at $214,000. 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.