California State Teachers Retirement System Sells 1,931 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

California State Teachers Retirement System lessened its stake in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 5.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,655 shares of the technology company’s stock after selling 1,931 shares during the quarter. California State Teachers Retirement System owned about 0.10% of Benchmark Electronics worth $1,070,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Caxton Associates LP bought a new position in shares of Benchmark Electronics in the 1st quarter worth $272,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Benchmark Electronics by 3.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,852 shares of the technology company’s stock valued at $956,000 after buying an additional 1,167 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Benchmark Electronics during the first quarter valued at about $166,000. Keeley Teton Advisors LLC increased its position in shares of Benchmark Electronics by 12.8% during the first quarter. Keeley Teton Advisors LLC now owns 70,984 shares of the technology company’s stock worth $2,130,000 after acquiring an additional 8,069 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of Benchmark Electronics during the first quarter worth about $111,000. Institutional investors own 92.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BHE shares. Lake Street Capital raised their price target on shares of 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 lifted their target price on Benchmark Electronics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com lowered Benchmark Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Sidoti lowered shares of Benchmark Electronics from a “buy” rating to a “neutral” rating and set a $33.00 target price for the company. in a research note on Monday, April 29th. Finally, Fox Advisors downgraded shares of Benchmark Electronics from an “overweight” rating to an “equal weight” rating in a report on Wednesday, May 15th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.33.

Benchmark Electronics Stock Performance

Shares of BHE opened at $41.64 on Wednesday. The stock has a 50 day moving average of $40.71 and a 200 day moving average of $35.48. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 0.26. Benchmark Electronics, Inc. has a 12 month low of $22.66 and a 12 month high of $48.58. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 22.75 and a beta of 0.99.

Benchmark Electronics (NYSE:BHE) last announced its earnings results 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. The firm had revenue of $666.00 million during the quarter, compared to analyst estimates of $635.75 million. Benchmark Electronics had a return on equity of 7.17% and a net margin of 2.45%. The business’s revenue was down 9.2% compared to the same quarter last year. During the same period last year, the firm posted $0.48 EPS.

Benchmark Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were issued a $0.165 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.59%. Benchmark Electronics’s dividend payout ratio (DPR) is presently 36.07%.

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.