Benchmark Electronics (NYSE:BHE) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Benchmark Electronics (NYSE:BHE - Free Report) from a hold rating to a buy rating in a research report sent to investors on Tuesday.

A number of other equities analysts have also recently weighed in on the stock. Lake Street Capital upped their price objective on shares of Benchmark Electronics from $35.00 to $46.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Needham & Company LLC upped their price objective on shares of Benchmark Electronics from $45.00 to $48.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $42.33.

Benchmark Electronics Trading Down 0.4 %

BHE traded down $0.19 during trading on Tuesday, hitting $48.28. The company's stock had a trading volume of 202,234 shares, compared to its average volume of 306,773. The firm's 50 day moving average price is $45.45 and its 200-day moving average price is $42.71. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.36 and a quick ratio of 1.45. The stock has a market cap of $1.74 billion, a PE ratio of 28.21 and a beta of 0.97. Benchmark Electronics has a twelve month low of $24.75 and a twelve month high of $52.57.

Benchmark Electronics (NYSE:BHE - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.57 EPS for the quarter, topping 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 business had revenue of $658.00 million during the quarter, compared to the consensus estimate of $650.00 million. During the same period in the prior year, the firm posted $0.57 EPS. The business's revenue for the quarter was down 8.6% on a year-over-year basis.

Benchmark Electronics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from Benchmark Electronics's previous quarterly dividend of $0.17. Benchmark Electronics's dividend payout ratio (DPR) is currently 39.53%.

Insider Buying and Selling

In other news, SVP Rhonda R. Turner sold 6,000 shares of the business's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $46.98, for a total transaction of $281,880.00. Following the transaction, the senior vice president now directly owns 47,991 shares in the company, valued at $2,254,617.18. The trade was a 11.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeff Benck sold 24,000 shares of the business's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $45.90, for a total transaction of $1,101,600.00. Following the transaction, the chief executive officer now owns 424,173 shares in the company, valued at approximately $19,469,540.70. This represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Benchmark Electronics

Several institutional investors and hedge funds have recently modified their holdings of BHE. UMB Bank n.a. lifted its stake in shares of Benchmark Electronics by 65.7% in the 2nd quarter. UMB Bank n.a. now owns 686 shares of the technology company's stock valued at $27,000 after purchasing an additional 272 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Benchmark Electronics in the 2nd quarter valued at $41,000. CWM LLC lifted its stake in shares of Benchmark Electronics by 81.9% in the 2nd quarter. CWM LLC now owns 1,106 shares of the technology company's stock valued at $44,000 after purchasing an additional 498 shares during the last quarter. Quarry LP lifted its stake in shares of Benchmark Electronics by 172.5% in the 2nd quarter. Quarry LP now owns 1,379 shares of the technology company's stock valued at $54,000 after purchasing an additional 873 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Benchmark Electronics in the 2nd quarter valued at $61,000. 92.29% of the stock is currently owned by hedge funds and other institutional investors.

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.