Benchmark Electronics (NYSE:BHE) Upgraded to "Buy" at StockNews.com

Benchmark Electronics (NYSE:BHE - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Tuesday.

Separately, Needham & Company LLC upped their price target on shares of Benchmark Electronics from $45.00 to $48.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $42.33.

Benchmark Electronics Stock Performance

Shares of BHE stock traded up $0.51 during midday trading on Tuesday, hitting $46.85. 90,127 shares of the company were exchanged, compared to its average volume of 304,612. Benchmark Electronics has a 52 week low of $25.35 and a 52 week high of $52.57. The firm has a market capitalization of $1.69 billion, a P/E ratio of 27.24 and a beta of 0.99. The firm's 50 day moving average price is $47.04 and its two-hundred day moving average price is $43.52. 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 (NYSE:BHE - Get Free Report) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.03. The company had revenue of $658.00 million for the quarter, compared to analyst estimates of $650.00 million. Benchmark Electronics had a return on equity of 6.81% and a net margin of 2.32%. The firm's quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 earnings per share.

Insider Activity at Benchmark Electronics

In other news, SVP Rhonda R. Turner sold 6,000 shares of Benchmark Electronics stock in a transaction 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 transaction, the senior vice president now 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeff Benck sold 24,000 shares of the business's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $45.90, for a total value of $1,101,600.00. Following the transaction, the chief executive officer now directly owns 424,173 shares of the company's stock, valued at $19,469,540.70. This trade represents a 5.36 % 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

Hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its stake in Benchmark Electronics by 3.7% in the 3rd quarter. Principal Financial Group Inc. now owns 184,332 shares of the technology company's stock valued at $8,170,000 after purchasing an additional 6,561 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Benchmark Electronics by 0.6% during the third quarter. Franklin Resources Inc. now owns 1,897,568 shares of the technology company's stock worth $84,081,000 after buying an additional 11,738 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Benchmark Electronics by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 841,602 shares of the technology company's stock valued at $37,307,000 after acquiring an additional 21,355 shares during the last quarter. Vestcor Inc boosted its holdings 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 valued at $667,000 after acquiring an additional 5,054 shares in the last quarter. Finally, Barclays PLC grew its position in 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 acquiring an additional 48,425 shares during the last quarter. 92.29% of the stock is currently owned by institutional investors and hedge funds.

Benchmark Electronics Company 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.