Benchmark Electronics, Inc. $BHE Holdings Trimmed by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. lowered its stake in Benchmark Electronics, Inc. (NYSE:BHE) by 76.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,600 shares of the technology company’s stock after selling 45,200 shares during the period. Jefferies Financial Group Inc.’s holdings in Benchmark Electronics were worth $1,128,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BHE. First Eagle Investment Management LLC lifted its position in shares of Benchmark Electronics by 18.3% in the 2nd quarter. First Eagle Investment Management LLC now owns 350,964 shares of the technology company’s stock worth $34,630,000 after purchasing an additional 54,395 shares during the period. State Street Corp boosted its stake in shares of Benchmark Electronics by 3.5% during the 2nd quarter. State Street Corp now owns 1,433,075 shares of the technology company’s stock valued at $141,644,000 after purchasing an additional 47,835 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Benchmark Electronics during the second quarter valued at about $1,734,000. Deutsche Bank AG purchased a new position in shares of Benchmark Electronics during the second quarter valued at about $9,589,000. Finally, Bank of America Corp DE purchased a new position in shares of Benchmark Electronics during the second quarter valued at about $11,046,000. 92.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BHE has been the subject of several research analyst reports. Weiss Ratings lowered shares of Benchmark Electronics from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 23rd. Needham & Company LLC initiated coverage on Benchmark Electronics in a research report on Friday, October 23rd. They set a “buy” rating and a $85.00 price objective on the stock. Zacks Research upgraded Benchmark Electronics to a “hold” rating in a report on Monday, October 5th. Finally, Wall Street Zen lowered Benchmark Electronics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 31st. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Benchmark Electronics has a consensus rating of “Moderate Buy” and an average price target of $88.50.

Benchmark Electronics Stock Down 2.6%

Benchmark Electronics stock traded down $1.66 on Friday, hitting $63.15. 363,904 shares of the stock traded hands, compared to its average volume of 478,787. The company has a current ratio of 1.87, a quick ratio of 1.17 and a debt-to-equity ratio of 0.14. The firm has a market cap of $2.26 billion, a P/E ratio of 40.74, a price-to-earnings-growth ratio of 1.19 and a beta of 1.40. The business’s fifty day simple moving average is $74.14 and its 200 day simple moving average is $73.03. Benchmark Electronics, Inc. has a 1 year low of $41.69 and a 1 year high of $100.41.

Benchmark Electronics (NYSE:BHE) last announced its earnings results on Wednesday, October 28th. The technology company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. The firm had revenue of $810.90 million for the quarter, compared to analysts’ expectations of $776.65 million. Benchmark Electronics had a net margin of 1.90% and a return on equity of 7.71%. The company’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 EPS. As a group, sell-side analysts forecast that Benchmark Electronics, Inc. will post 2.48 earnings per share for the current year.

Benchmark Electronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 13th. Investors of record on Wednesday, September 30th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.68 annualized dividend and a yield of 1.1%. Benchmark Electronics’s payout ratio is presently 43.87%.

Benchmark Electronics Profile

Benchmark Electronics, Inc. is a provider of engineering, design, and manufacturing services for companies that develop complex products. Its services span product development and prototyping, electronics and precision manufacturing, testing, supply-chain management, and aftermarket support. The company serves customers in industries including aerospace and defense, medical technologies, industrial equipment, semiconductor capital equipment, and advanced computing and communications. Its work covers products ranging from electronic assemblies and precision components to complete systems; these are generally produced for customers rather than sold under Benchmark’s own consumer brand.