Benchmark Electronics, Inc. (NYSE:BHE) Stock Position Raised by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 55.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,439 shares of the technology company's stock after purchasing an additional 14,020 shares during the quarter. Victory Capital Management Inc. owned 0.11% of Benchmark Electronics worth $1,748,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Pacer Advisors Inc. purchased a new position in shares of Benchmark Electronics in the 2nd quarter worth approximately $70,424,000. American Century Companies Inc. increased its position in shares of Benchmark Electronics by 176.6% in the 2nd quarter. American Century Companies Inc. now owns 615,036 shares of the technology company's stock valued at $24,269,000 after acquiring an additional 392,699 shares during the period. Millennium Management LLC boosted its holdings in shares of Benchmark Electronics by 85.9% in the 2nd 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. boosted its stake in shares of 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. Finally, Raymond James & Associates acquired a new stake in Benchmark Electronics during the second quarter valued at $2,642,000. Hedge funds and other institutional investors own 92.29% of the company's stock.

Insider Activity at Benchmark Electronics

In related news, SVP Rhonda R. Turner sold 6,000 shares of the company's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $46.98, for a total transaction 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 $2,254,617.18. This represents a 11.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the chief executive officer now owns 424,173 shares of the company's stock, valued at $19,469,540.70. This represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

BHE has been the topic of several research reports. Lake Street Capital raised 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. Needham & Company LLC increased their price objective on shares of Benchmark Electronics from $45.00 to $48.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Finally, StockNews.com cut shares of Benchmark Electronics from a "buy" rating to a "hold" rating in a report on Monday, November 18th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $42.33.

Benchmark Electronics Price Performance

Shares of Benchmark Electronics stock traded up $0.30 on Monday, hitting $48.47. The company's stock had a trading volume of 278,972 shares, compared to its average volume of 306,563. The firm has a fifty day moving average price of $45.32 and a 200-day moving average price of $42.65. The company has a market capitalization of $1.74 billion, a P/E ratio of 28.01 and a beta of 0.97. Benchmark Electronics, Inc. has a 52-week low of $24.75 and a 52-week 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.

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

Benchmark Electronics Increases Dividend

The business 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. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.40%. This is a positive change from Benchmark Electronics's previous quarterly dividend of $0.17. Benchmark Electronics's dividend payout ratio (DPR) is 39.53%.

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.