Benchmark Electronics (NYSE:BHE) Given New $50.00 Price Target at Needham & Company LLC

Benchmark Electronics (NYSE:BHE) had its price target boosted by Needham & Company LLC from $48.00 to $50.00 in a report published on Thursday,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Separately, StockNews.com upgraded Benchmark Electronics from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Benchmark Electronics Stock Down 2.5 %

BHE opened at $42.55 on Thursday. Benchmark Electronics has a twelve month low of $27.04 and a twelve month high of $52.57. The company’s 50-day moving average price is $46.95 and its two-hundred day moving average price is $44.73. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 24.74 and a beta of 1.00. 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) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%.

Benchmark Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.68 annualized dividend and a yield of 1.60%. Benchmark Electronics’s dividend payout ratio is currently 39.53%.

Insider Activity

In other news, CEO Jeff Benck sold 6,000 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $45.31, for a total value of $271,860.00. Following the transaction, the chief executive officer now owns 418,173 shares of the company’s stock, valued at $18,947,418.63. This represents a 1.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 36,000 shares of company stock worth $1,655,340 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Benchmark Electronics

Several institutional investors have recently modified their holdings of the company. Quarry LP boosted its stake in Benchmark Electronics by 172.5% in the second quarter. Quarry LP now owns 1,379 shares of the technology company’s stock worth $54,000 after buying an additional 873 shares in the last quarter. KBC Group NV grew its holdings in shares of Benchmark Electronics by 125.3% during the 3rd quarter. KBC Group NV now owns 1,534 shares of the technology company’s stock valued at $68,000 after purchasing an additional 853 shares during the last quarter. CWM LLC grew its holdings in shares of Benchmark Electronics by 54.2% during the 3rd quarter. CWM LLC now owns 1,706 shares of the technology company’s stock valued at $76,000 after purchasing an additional 600 shares during the last quarter. GAMMA Investing LLC raised its position in Benchmark Electronics by 161.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,255 shares of the technology company’s stock worth $100,000 after purchasing an additional 1,392 shares during the period. Finally, Highland Capital Management LLC bought a new stake in Benchmark Electronics in the third quarter worth $234,000. 92.29% of the stock is currently owned by institutional investors.

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.