Benchmark Electronics (NYSE:BHE) Price Target Raised to $48.00 at Needham & Company LLC

Benchmark Electronics (NYSE:BHE - Get Free Report) had its price target hoisted by equities researchers at Needham & Company LLC from $45.00 to $48.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. Needham & Company LLC's price objective suggests a potential upside of 4.60% from the stock's current price.

A number of other analysts have also recently issued reports on the company. Lake Street Capital increased their target price on Benchmark Electronics from $35.00 to $46.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. StockNews.com raised shares of Benchmark Electronics from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $42.33.

Benchmark Electronics Stock Up 6.0 %

NYSE BHE traded up $2.59 during trading hours on Friday, reaching $45.89. 346,655 shares of the company's stock were exchanged, compared to its average volume of 309,842. The company's 50-day moving average is $43.09 and its two-hundred day moving average is $40.73. Benchmark Electronics has a one year low of $23.62 and a one year high of $48.58. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.42 and a current ratio of 2.35. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 26.62 and a beta of 0.98.

Benchmark Electronics (NYSE:BHE - Get Free Report) last posted its earnings results on Tuesday, July 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.06. Benchmark Electronics had a return on equity of 6.84% and a net margin of 2.32%. The business had revenue of $666.00 million during the quarter, compared to analysts' expectations of $635.75 million. During the same period in the prior year, the business earned $0.48 EPS. Benchmark Electronics's revenue for the quarter was down 9.2% compared to the same quarter last year.

Insider Buying and Selling at Benchmark Electronics

In other Benchmark Electronics news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.70, for a total transaction of $302,017.10. Following the completion of the sale, the director now owns 42,027 shares of the company's stock, valued at $1,794,552.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Benchmark Electronics

Hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. acquired a new position in Benchmark Electronics in the second quarter valued at about $70,424,000. American Century Companies Inc. raised its stake in Benchmark Electronics by 176.6% in the second quarter. American Century Companies Inc. now owns 615,036 shares of the technology company's stock valued at $24,269,000 after purchasing an additional 392,699 shares in the last quarter. Millennium Management LLC grew its position in Benchmark Electronics by 85.9% in 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 during the last quarter. Vanguard Group Inc. grew its position in Benchmark Electronics by 3.4% in the first quarter. Vanguard Group Inc. now owns 4,845,204 shares of the technology company's stock valued at $145,405,000 after acquiring an additional 159,716 shares during the last quarter. Finally, Advisors Preferred LLC bought a new position in Benchmark Electronics in the first quarter valued at about $2,883,000. Institutional investors and hedge funds own 92.29% of the company's stock.

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.