Benchmark Electronics, Inc. (NYSE:BHE) Sees Large Growth in Short Interest

Benchmark Electronics, Inc. (NYSE:BHE - Get Free Report) was the target of a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 1,410,000 shares, a growth of 20.5% from the January 31st total of 1,170,000 shares. Currently, 4.1% of the company's stock are short sold. Based on an average daily trading volume, of 253,500 shares, the days-to-cover ratio is presently 5.6 days.

Benchmark Electronics Stock Performance

Shares of Benchmark Electronics stock traded down $0.04 during trading on Monday, hitting $38.17. 402,108 shares of the company's stock traded hands, compared to its average volume of 296,760. Benchmark Electronics has a 1 year low of $27.44 and a 1 year high of $52.57. The business has a 50-day simple moving average of $43.39 and a 200-day simple moving average of $44.58. The stock has a market capitalization of $1.37 billion, a P/E ratio of 22.06 and a beta of 0.97. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.32 and a quick ratio of 1.46.

Benchmark Electronics (NYSE:BHE - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.01). Benchmark Electronics had a net margin of 2.38% and a return on equity of 6.68%.

Remove Ads

Benchmark Electronics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.78%. Benchmark Electronics's dividend payout ratio (DPR) is presently 39.31%.

Insider Buying and Selling at Benchmark Electronics

In other news, CEO Jeff Benck sold 6,000 shares of the firm's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $45.31, for a total transaction of $271,860.00. Following the completion of the transaction, the chief executive officer now directly owns 418,173 shares in the company, valued at $18,947,418.63. This trade represents a 1.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Benchmark Electronics

Hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors grew its holdings in shares of Benchmark Electronics by 3.8% in the third quarter. Captrust Financial Advisors now owns 6,535 shares of the technology company's stock worth $290,000 after acquiring an additional 242 shares during the period. GAMMA Investing LLC boosted its position in Benchmark Electronics by 12.9% in the fourth quarter. GAMMA Investing LLC now owns 2,547 shares of the technology company's stock worth $116,000 after purchasing an additional 292 shares during the last quarter. Versor Investments LP grew its stake in shares of Benchmark Electronics by 2.2% during the 3rd quarter. Versor Investments LP now owns 14,115 shares of the technology company's stock valued at $626,000 after purchasing an additional 300 shares during the period. Heritage Family Offices LLP increased its position in shares of Benchmark Electronics by 5.7% during the 4th quarter. Heritage Family Offices LLP now owns 6,162 shares of the technology company's stock valued at $280,000 after purchasing an additional 334 shares during the last quarter. Finally, Highland Capital Management LLC lifted its stake in shares of Benchmark Electronics by 6.4% in the 4th quarter. Highland Capital Management LLC now owns 5,620 shares of the technology company's stock worth $255,000 after purchasing an additional 337 shares during the period. 92.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BHE shares. StockNews.com upgraded shares of Benchmark Electronics from a "hold" rating to a "buy" rating in a research note on Tuesday, January 7th. Needham & Company LLC increased their price target on shares of Benchmark Electronics from $48.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Benchmark Electronics has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.

Benchmark Electronics Company Profile

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.