Benchmark Electronics (NYSE:BHE) Rating Lowered to "Hold" at StockNews.com

StockNews.com downgraded shares of Benchmark Electronics (NYSE:BHE - Free Report) from a buy rating to a hold rating in a report released on Wednesday.

Separately, Needham & Company LLC upped their price target 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 investment 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.com, Benchmark Electronics presently has an average rating of "Hold" and a consensus target price of $42.33.

Benchmark Electronics Price Performance

NYSE:BHE traded down $0.16 during trading hours on Wednesday, hitting $48.79. The company's stock had a trading volume of 175,089 shares, compared to its average volume of 303,951. The business's 50-day moving average is $46.00 and its two-hundred day moving average is $43.04. The company has a market capitalization of $1.76 billion, a PE ratio of 28.46 and a beta of 0.99. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 2.36. Benchmark Electronics has a 52-week low of $24.93 and a 52-week high of $52.57.

Benchmark Electronics (NYSE:BHE - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.03. The business had revenue of $658.00 million during the quarter, compared to analysts' expectations of $650.00 million. Benchmark Electronics had a return on equity of 6.81% and a net margin of 2.32%. The business's revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter last year, the business posted $0.57 earnings per share.

Benchmark Electronics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $0.17 dividend. This is a boost from Benchmark Electronics's previous quarterly dividend of $0.17. This represents a $0.68 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Monday, September 30th. Benchmark Electronics's dividend payout ratio (DPR) is 39.53%.

Insider Buying and Selling

In related news, CEO Jeff Benck sold 24,000 shares of the company's stock in a transaction dated 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Rhonda R. Turner sold 6,000 shares of the company's stock in a transaction that occurred 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 sale, the senior vice president now owns 47,991 shares in the company, valued at $2,254,617.18. This represents a 11.11 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Benchmark Electronics

A number of large investors have recently added to or reduced their stakes in BHE. Franklin Resources Inc. raised its position in Benchmark Electronics by 0.6% during 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 during the last quarter. Geode Capital Management LLC boosted its stake 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 purchasing an additional 21,355 shares during the last quarter. Vestcor Inc lifted its position in shares of Benchmark Electronics by 50.5% during the 3rd quarter. Vestcor Inc now owns 15,054 shares of the technology company's stock worth $667,000 after buying an additional 5,054 shares in the last quarter. Barclays PLC lifted its position in shares of Benchmark Electronics by 128.8% during the 3rd quarter. Barclays PLC now owns 86,024 shares of the technology company's stock worth $3,814,000 after buying an additional 48,425 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC raised its holdings in shares of Benchmark Electronics by 10.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 193,205 shares of the technology company's stock worth $8,555,000 after purchasing an additional 17,697 shares during the period. 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.