Benchmark Electronics (NYSE:BHE) Receives "Buy" Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Benchmark Electronics (NYSE:BHE - Free Report) in a report issued on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a $48.00 price objective on the technology company's stock.

Separately, StockNews.com upgraded shares of Benchmark Electronics from a "hold" rating to a "buy" rating in a research note on Tuesday, January 7th. 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 MarketBeat, Benchmark Electronics has a consensus rating of "Moderate Buy" and a consensus target price of $42.33.

Benchmark Electronics Stock Up 2.8 %

BHE traded up $1.29 during trading on Tuesday, hitting $46.92. The stock had a trading volume of 171,479 shares, compared to its average volume of 178,360. The stock has a 50 day simple moving average of $47.57 and a two-hundred day simple moving average of $44.21. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 2.36. Benchmark Electronics has a twelve month low of $25.35 and a twelve month high of $52.57. The company has a market capitalization of $1.69 billion, a PE ratio of 27.28 and a beta of 1.00.

Benchmark Electronics (NYSE:BHE - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.03. Benchmark Electronics had a return on equity of 6.81% and a net margin of 2.32%. The company had revenue of $658.00 million during the quarter, compared to analysts' expectations of $650.00 million. During the same period last year, the business posted $0.57 earnings per share. The firm's revenue was down 8.6% compared to the same quarter last year.

Benchmark Electronics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.45%. The ex-dividend date is Tuesday, December 31st. Benchmark Electronics's payout ratio is 39.53%.

Insider Buying and Selling at Benchmark Electronics

In other Benchmark Electronics news, CEO Jeff Benck sold 24,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $45.90, for a total value of $1,101,600.00. Following the sale, the chief executive officer now directly owns 424,173 shares of the company's stock, valued at approximately $19,469,540.70. This trade represents a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rhonda R. Turner sold 6,000 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $46.98, for a total value of $281,880.00. Following the completion of the sale, the senior vice president now owns 47,991 shares of the company's stock, valued at $2,254,617.18. This trade represents a 11.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Benchmark Electronics

A number of institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC purchased a new stake in shares of Benchmark Electronics during the second quarter worth about $41,000. Quarry LP raised its holdings in shares of Benchmark Electronics by 172.5% during the second quarter. Quarry LP now owns 1,379 shares of the technology company's stock valued at $54,000 after acquiring an additional 873 shares during the last quarter. KBC Group NV lifted its position in shares of Benchmark Electronics by 125.3% in the third quarter. KBC Group NV now owns 1,534 shares of the technology company's stock valued at $68,000 after acquiring an additional 853 shares in the last quarter. CWM LLC boosted its stake in shares of Benchmark Electronics by 54.2% in the third quarter. CWM LLC now owns 1,706 shares of the technology company's stock worth $76,000 after acquiring an additional 600 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Benchmark Electronics by 161.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,255 shares of the technology company's stock valued at $100,000 after purchasing an additional 1,392 shares in the last quarter. Institutional investors and hedge funds own 92.29% of the company's stock.

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.