Victory Capital Management Inc. Reduces Holdings in Benchmark Electronics, Inc. (NYSE:BHE)

Victory Capital Management Inc. cut its stake in Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 46.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,419 shares of the technology company's stock after selling 21,943 shares during the period. Victory Capital Management Inc. owned 0.07% of Benchmark Electronics worth $1,003,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BHE. Vanguard Group Inc. raised its holdings 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 worth $145,405,000 after buying an additional 159,716 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Benchmark Electronics by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,996,161 shares of the technology company's stock worth $82,815,000 after purchasing an additional 21,170 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Benchmark Electronics by 1.8% during the fourth quarter. Franklin Resources Inc. now owns 2,351,157 shares of the technology company's stock valued at $64,986,000 after purchasing an additional 42,570 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Benchmark Electronics by 36.9% in the fourth quarter. First Trust Advisors LP now owns 902,475 shares of the technology company's stock worth $24,944,000 after acquiring an additional 243,480 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Benchmark Electronics by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 892,102 shares of the technology company's stock worth $24,658,000 after acquiring an additional 30,941 shares during the period. Institutional investors own 92.29% of the company's stock.

Analyst Ratings Changes

BHE has been the topic of several analyst reports. Needham & Company LLC lifted their price target on shares of Benchmark Electronics from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Lake Street Capital increased their target price on Benchmark Electronics from $35.00 to $46.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Finally, StockNews.com cut shares of Benchmark Electronics from a "buy" rating to a "hold" rating in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Benchmark Electronics has an average rating of "Hold" and an average price target of $41.33.

Insider Buying and Selling at Benchmark Electronics

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the 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 in the company, valued at approximately $1,794,552.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.10% of the stock is owned by insiders.

Benchmark Electronics Trading Down 1.2 %

Shares of NYSE:BHE traded down $0.55 during trading on Friday, reaching $43.98. 1,110,075 shares of the company were exchanged, compared to its average volume of 324,433. The business's fifty day simple moving average is $41.85 and its 200-day simple moving average is $37.89. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.35 and a quick ratio of 1.42. Benchmark Electronics, Inc. has a 12-month low of $22.66 and a 12-month high of $48.58. The firm has a market capitalization of $1.59 billion, a PE ratio of 24.03 and a beta of 0.98.

Benchmark Electronics (NYSE:BHE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.06. Benchmark Electronics had a net margin of 2.45% and a return on equity of 7.17%. The company had revenue of $666.00 million for the quarter, compared to analyst estimates of $635.75 million. During the same period last year, the company posted $0.48 earnings per share. Benchmark Electronics's revenue was down 9.2% compared to the same quarter last year.

Benchmark Electronics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a dividend of $0.17 per share. This is a boost from Benchmark Electronics's previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.55%. Benchmark Electronics's dividend payout ratio is presently 37.16%.

Benchmark Electronics 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.