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

Benchmark Electronics (NYSE:BHE) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

BHE has been the subject of several other reports. Lake Street Capital raised their target price on shares of Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Needham & Company LLC lifted their price objective on Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.33.

Benchmark Electronics Price Performance

BHE stock opened at $48.02 on Tuesday. The firm has a 50 day moving average of $45.55 and a 200-day moving average of $42.77. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 28.07 and a beta of 0.97. The company has a current ratio of 2.36, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. Benchmark Electronics has a 12-month low of $24.75 and a 12-month high of $52.57.

Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. The firm 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%. 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 earnings per share.

Insider Transactions at Benchmark Electronics

In other news, CEO Jeff Benck sold 24,000 shares of Benchmark Electronics 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 completion of the sale, the chief executive officer now owns 424,173 shares of the company’s stock, valued at $19,469,540.70. The trade was a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Rhonda R. Turner sold 6,000 shares of the stock in a transaction dated 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 $2,254,617.18. This trade represents a 11.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Benchmark Electronics

A number of institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. raised its stake in 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 purchasing an additional 11,738 shares during the period. Geode Capital Management LLC increased its holdings in shares of Benchmark Electronics by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 841,602 shares of the technology company’s stock worth $37,307,000 after buying an additional 21,355 shares during the last quarter. Vestcor Inc raised its position in shares of Benchmark Electronics by 50.5% in 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 during the period. Barclays PLC boosted its holdings in Benchmark Electronics by 128.8% in the third quarter. Barclays PLC now owns 86,024 shares of the technology company’s stock valued at $3,814,000 after acquiring an additional 48,425 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its holdings in Benchmark Electronics by 10.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 193,205 shares of the technology company’s stock valued at $8,555,000 after acquiring an additional 17,697 shares during the last quarter. 92.29% of the stock is currently owned by hedge funds and other institutional investors.

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.