Needham & Company LLC Raises Benchmark Electronics (NYSE:BHE) Price Target to $50.00

Benchmark Electronics (NYSE:BHE - Free Report) had its price target lifted by Needham & Company LLC from $48.00 to $50.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the technology company's stock.

Separately, StockNews.com raised Benchmark Electronics from a "hold" rating to a "buy" rating in a research report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $43.00.

Benchmark Electronics Stock Performance

Benchmark Electronics stock traded up $0.12 during trading on Thursday, hitting $42.63. The stock had a trading volume of 289,347 shares, compared to its average volume of 236,525. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 24.54 and a beta of 1.00. Benchmark Electronics has a 1 year low of $27.04 and a 1 year 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 stock's 50 day moving average is $46.95 and its two-hundred day moving average is $44.73.

Benchmark Electronics (NYSE:BHE - Get Free Report) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.55 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.01). Benchmark Electronics had a return on equity of 6.71% and a net margin of 2.38%.

Benchmark Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Tuesday, December 31st. Benchmark Electronics's payout ratio is 39.31%.

Insider Buying and Selling at Benchmark Electronics

In other Benchmark Electronics news, CEO Jeff Benck sold 24,000 shares of the business's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $45.90, for a total value of $1,101,600.00. Following the completion of the sale, the chief executive officer now directly owns 424,173 shares of the company's stock, valued at $19,469,540.70. The trade was a 5.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Rhonda R. Turner sold 6,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 in the company, valued at approximately $2,254,617.18. This trade represents a 11.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,000 shares of company stock valued at $1,655,340 over the last ninety days. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BHE. Pacer Advisors Inc. boosted its stake in Benchmark Electronics by 8.9% in the third quarter. Pacer Advisors Inc. now owns 1,944,347 shares of the technology company's stock valued at $86,173,000 after acquiring an additional 159,659 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Benchmark Electronics by 0.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,897,568 shares of the technology company's stock worth $84,081,000 after purchasing an additional 11,738 shares in the last quarter. Geode Capital Management LLC increased its position in Benchmark Electronics by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 841,602 shares of the technology company's stock valued at $37,307,000 after buying an additional 21,355 shares in the last quarter. Wasatch Advisors LP boosted its holdings in Benchmark Electronics by 19.5% in the third quarter. Wasatch Advisors LP now owns 820,493 shares of the technology company's stock worth $36,364,000 after acquiring an additional 133,602 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Benchmark Electronics by 85.9% during the second quarter. Millennium Management LLC now owns 446,176 shares of the technology company's stock valued at $17,606,000 after acquiring an additional 206,114 shares in the last quarter. 92.29% of the stock is currently owned by institutional investors.

About Benchmark Electronics

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.