Benchmark Electronics, Inc. (BHE) Reaches New 1-Year High at $35.30
Benchmark Electronics, Inc. (NYSE:BHE) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $35.30 and last traded at $35.20, with a volume of 266,681 shares changing hands. The stock had previously closed at $35.00.
Several equities research analysts have weighed in on the company. BidaskClub cut Benchmark Electronics from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Royal Bank Of Canada lifted their price objective on Benchmark Electronics from $33.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 20th. Needham & Company LLC boosted their target price on Benchmark Electronics from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Finally, Citigroup Inc. reissued a “neutral” rating and set a $36.00 target price (up from $32.00) on shares of Benchmark Electronics in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $33.25.
The company has a market capitalization of $1.76 billion, a PE ratio of 25.88 and a beta of 0.55. The company has a 50 day moving average of $32.61 and a 200-day moving average of $32.49.
Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.04. Benchmark Electronics had a return on equity of 5.59% and a net margin of 2.84%. The company had revenue of $616.90 million for the quarter, compared to the consensus estimate of $577.00 million. During the same quarter in the prior year, the company posted $0.31 EPS. Benchmark Electronics’s quarterly revenue was up 6.5% on a year-over-year basis. Equities analysts predict that Benchmark Electronics, Inc. will post $1.49 earnings per share for the current year.
In related news, VP Scott R. Peterson sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $32.06, for a total value of $32,060.00. Following the completion of the sale, the vice president now owns 18,893 shares in the company, valued at $605,709.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Donald Francis Adam sold 61,572 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $33.60, for a total value of $2,068,819.20. Following the completion of the sale, the chief financial officer now owns 112,856 shares of the company’s stock, valued at approximately $3,791,961.60. The disclosure for this sale can be found here. Insiders have sold 68,494 shares of company stock valued at $2,289,850 over the last three months. Insiders own 0.90% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its holdings in Benchmark Electronics by 36.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,388 shares of the technology company’s stock worth $108,000 after purchasing an additional 898 shares during the period. Ameritas Investment Partners Inc. bought a new stake in Benchmark Electronics during the 1st quarter valued at $129,000. Riverhead Capital Management LLC raised its position in Benchmark Electronics by 71.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,663 shares of the technology company’s stock valued at $183,000 after purchasing an additional 2,363 shares in the last quarter. Flinton Capital Management LLC raised its position in Benchmark Electronics by 70.7% during the 2nd quarter. Flinton Capital Management LLC now owns 5,746 shares of the technology company’s stock valued at $186,000 after purchasing an additional 2,380 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new stake in Benchmark Electronics during the 2nd quarter valued at $203,000. 94.98% of the stock is currently owned by institutional investors.
About Benchmark Electronics
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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