Insider Selling: Benchmark Electronics Inc. (BHE) Director Sells 40,000 Shares of Stock
Benchmark Electronics Inc. (NYSE:BHE) Director Douglas G. Duncan sold 40,000 shares of Benchmark Electronics stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $28.77, for a total value of $1,150,800.00. Following the completion of the transaction, the director now owns 41,774 shares of the company’s stock, valued at $1,201,837.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Benchmark Electronics Inc. (NYSE:BHE) traded up 0.52% during mid-day trading on Tuesday, hitting $28.85. The stock had a trading volume of 274,198 shares. Benchmark Electronics Inc. has a one year low of $18.36 and a one year high of $29.15. The stock has a market cap of $1.41 billion, a P/E ratio of 17.11 and a beta of 0.75. The company has a 50 day moving average price of $26.14 and a 200 day moving average price of $23.68.
Benchmark Electronics (NYSE:BHE) last released its quarterly earnings data on Thursday, October 20th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business earned $574 million during the quarter, compared to the consensus estimate of $584.17 million. Benchmark Electronics had a return on equity of 5.23% and a net margin of 3.65%. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 EPS. On average, equities analysts anticipate that Benchmark Electronics Inc. will post $1.39 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in BHE. Cornerstone Capital Management Holdings LLC. increased its stake in Benchmark Electronics by 87.4% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 210,500 shares of the company’s stock worth $5,251,000 after buying an additional 98,200 shares during the last quarter. Credit Suisse AG increased its stake in shares of Benchmark Electronics by 5.2% in the third quarter. Credit Suisse AG now owns 60,926 shares of the company’s stock valued at $1,520,000 after buying an additional 3,025 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Benchmark Electronics by 1,536.0% in the third quarter. Mackenzie Financial Corp now owns 220,293 shares of the company’s stock valued at $5,496,000 after buying an additional 206,828 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Benchmark Electronics during the third quarter valued at about $815,000. Finally, HBK Investments L P increased its stake in shares of Benchmark Electronics by 12.6% in the third quarter. HBK Investments L P now owns 52,800 shares of the company’s stock valued at $1,317,000 after buying an additional 5,897 shares in the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.
A number of brokerages have issued reports on BHE. Zacks Investment Research downgraded Benchmark Electronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 21st. B. Riley reaffirmed a “neutral” rating and set a $23.00 price target on shares of Benchmark Electronics in a report on Tuesday, October 18th. Needham & Company LLC lifted their price target on Benchmark Electronics from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, October 21st. Cross Research downgraded Benchmark Electronics from a “hold” rating to a “sell” rating in a report on Friday, October 21st. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and set a $26.00 price target (up from $24.00) on shares of Benchmark Electronics in a report on Monday, October 24th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $25.20.
Benchmark Electronics Company Profile
Benchmark Electronics, Inc is a provider of integrated electronic manufacturing services. The Company provides services to original equipment manufacturers of industrial control equipment, including equipment for the aerospace and defense industry; telecommunication equipment; computers and related products for business enterprises; medical devices, and testing and instrumentation products.
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