First Trust Advisors LP Sells 29,102 Shares of Benchmark Electronics, Inc. (BHE)
First Trust Advisors LP lowered its holdings in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 30.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,190 shares of the technology company’s stock after selling 29,102 shares during the quarter. First Trust Advisors LP owned about 0.14% of Benchmark Electronics worth $2,170,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in BHE. Envestnet Asset Management Inc. raised its holdings in shares of Benchmark Electronics by 36.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,388 shares of the technology company’s stock valued at $108,000 after purchasing an additional 898 shares in the last quarter. Founders Capital Management bought a new position in shares of Benchmark Electronics during the 1st quarter valued at $127,000. Ameritas Investment Partners Inc. bought a new position in shares of Benchmark Electronics during the 1st quarter valued at $129,000. CIBC Asset Management Inc bought a new position in shares of Benchmark Electronics during the 2nd quarter valued at $203,000. Finally, Citadel Advisors LLC bought a new position in shares of Benchmark Electronics during the 1st quarter valued at $207,000. Institutional investors and hedge funds own 95.00% of the company’s stock.
In related news, Director Douglas G. Duncan sold 5,922 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $31.91, for a total transaction of $188,971.02. Following the completion of the transaction, the director now owns 30,524 shares in the company, valued at $974,020.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott R. Peterson sold 1,000 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $32.06, for a total transaction of $32,060.00. Following the transaction, the vice president now owns 18,893 shares of the company’s stock, valued at approximately $605,709.58. The disclosure for this sale can be found here. Insiders have sold 68,494 shares of company stock valued at $2,289,850 in the last 90 days. 0.90% of the stock is currently owned by corporate insiders.
Benchmark Electronics, Inc. (NYSE:BHE) opened at 31.95 on Monday. Benchmark Electronics, Inc. has a 12-month low of $23.22 and a 12-month high of $35.25. The stock’s 50 day moving average is $32.51 and its 200-day moving average is $32.28. The company has a market cap of $1.60 billion, a P/E ratio of 23.49 and a beta of 0.52.
Benchmark Electronics (NYSE:BHE) last announced its earnings results on Wednesday, July 19th. The technology company reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.04. Benchmark Electronics had a net margin of 2.84% and a return on equity of 5.59%. The business had revenue of $616.90 million during the quarter, compared to analysts’ expectations of $577 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. Analysts predict that Benchmark Electronics, Inc. will post $1.49 earnings per share for the current fiscal year.
BHE has been the topic of a number of recent research reports. Citigroup Inc. restated a “neutral” rating and set a $36.00 price target (up previously from $32.00) on shares of Benchmark Electronics in a report on Friday, July 21st. BidaskClub downgraded shares of Benchmark Electronics from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Royal Bank Of Canada raised their price target on shares of Benchmark Electronics from $33.00 to $37.00 and gave the company a “sector perform” rating in a report on Thursday, July 20th. Finally, Needham & Company LLC raised their price target on shares of Benchmark Electronics from $34.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Benchmark Electronics currently has an average rating of “Hold” and a consensus target price of $33.25.
Benchmark Electronics Company Profile
Benchmark Electronics, Inc is a provider of electronic manufacturing services. The Company operates through three segments: the Americas, Asia and Europe. It 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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