Jennison Associates LLC bought a new stake in Benchmark Electronics, Inc. (NYSE:BHE - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 27,102 shares of the technology company's stock, valued at approximately $1,201,000. Jennison Associates LLC owned 0.08% of Benchmark Electronics as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Benchmark Electronics by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 4,845,204 shares of the technology company's stock valued at $145,405,000 after purchasing an additional 159,716 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Benchmark Electronics by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,012,717 shares of the technology company's stock valued at $118,881,000 after acquiring an additional 12,112 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in Benchmark Electronics in the 2nd quarter worth approximately $70,424,000. Tributary Capital Management LLC increased its stake in Benchmark Electronics by 0.3% in the second quarter. Tributary Capital Management LLC now owns 646,142 shares of the technology company's stock valued at $25,497,000 after purchasing an additional 1,875 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Benchmark Electronics by 176.6% during the 2nd quarter. American Century Companies Inc. now owns 615,036 shares of the technology company's stock valued at $24,269,000 after acquiring an additional 392,699 shares during the last quarter. 92.29% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Benchmark Electronics
In other Benchmark Electronics news, SVP Rhonda R. Turner sold 6,000 shares of the firm's stock in a transaction 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 transaction, the senior vice president now directly owns 47,991 shares of the company's stock, valued at $2,254,617.18. This trade represents a 11.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeff Benck sold 24,000 shares of the company's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $45.90, for a total transaction of $1,101,600.00. Following the completion of the transaction, the chief executive officer now owns 424,173 shares of the company's stock, valued at $19,469,540.70. This trade represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,073 shares of company stock worth $1,685,497 over the last three months. 2.10% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on BHE shares. StockNews.com cut shares of Benchmark Electronics from a "buy" rating to a "hold" rating in a research report on Monday, November 18th. Lake Street Capital boosted their price target on Benchmark Electronics from $35.00 to $46.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Finally, Needham & Company LLC raised their target price on Benchmark Electronics from $45.00 to $48.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $42.33.
View Our Latest Stock Report on BHE
Benchmark Electronics Trading Up 1.1 %
Shares of Benchmark Electronics stock traded up $0.52 during trading on Friday, reaching $48.17. 217,599 shares of the company were exchanged, compared to its average volume of 265,445. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 28.01 and a beta of 0.97. Benchmark Electronics, Inc. has a twelve month low of $24.75 and a twelve month high of $52.57. The company has a quick ratio of 1.45, a current ratio of 2.36 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $45.32 and a 200-day moving average price of $42.63.
Benchmark Electronics (NYSE:BHE - Get Free Report) last announced its quarterly earnings data 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 net margin of 2.32% and a return on equity of 6.81%. The company had revenue of $658.00 million during the quarter, compared to the consensus estimate of $650.00 million. During the same quarter last year, the firm posted $0.57 EPS. The company's quarterly revenue was down 8.6% on a year-over-year basis.
Benchmark Electronics Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Monday, September 30th. This is a positive change from Benchmark Electronics's previous quarterly dividend of $0.17. Benchmark Electronics's payout ratio is 39.53%.
About Benchmark Electronics
(
Free Report)
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.
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