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

StockNews.com upgraded shares of Benchmark Electronics (NYSE:BHE) from a hold rating to a buy rating in a research note released on Wednesday.

Several other equities analysts have also weighed in on the stock. Sidoti lowered shares of Benchmark Electronics from a buy rating to a neutral rating and set a $33.00 price objective on the stock. in a report on Monday, April 29th. Needham & Company LLC increased their price objective on shares of Benchmark Electronics from $40.00 to $45.00 and gave the company a buy rating in a report on Wednesday. Fox Advisors lowered shares of Benchmark Electronics from an overweight rating to an equal weight rating in a report on Wednesday, May 15th. Finally, Lake Street Capital increased their price objective on shares of Benchmark Electronics from $35.00 to $46.00 and gave the company a buy rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Benchmark Electronics currently has a consensus rating of Moderate Buy and a consensus price target of $41.33.

Benchmark Electronics Price Performance

BHE opened at $41.48 on Wednesday. Benchmark Electronics has a one year low of $22.66 and a one year high of $48.58. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.35 and a quick ratio of 1.41. The company’s 50 day simple moving average is $41.03 and its 200-day simple moving average is $34.82. The stock has a market capitalization of $1.50 billion, a P/E ratio of 22.67 and a beta of 0.99.

Benchmark Electronics (NYSE:BHE) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.51 by $0.06. Benchmark Electronics had a net margin of 2.45% and a return on equity of 7.17%. The business had revenue of $666.00 million for the quarter, compared to analysts’ expectations of $635.75 million. During the same period in the prior year, the firm earned $0.48 earnings per share. Benchmark Electronics’s revenue was down 9.2% compared to the same quarter last year.

Benchmark Electronics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders 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 annualized dividend and a yield of 1.59%. Benchmark Electronics’s dividend payout ratio (DPR) is presently 36.07%.

Insiders Place Their Bets

In other news, CFO Arvind Kamal sold 783 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $38.38, for a total transaction of $30,051.54. Following the completion of the sale, the chief financial officer now owns 20,735 shares of the company’s stock, valued at $795,809.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Benchmark Electronics news, CFO Arvind Kamal sold 783 shares of Benchmark Electronics stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $38.38, for a total value of $30,051.54. Following the sale, the chief financial officer now directly owns 20,735 shares in the company, valued at approximately $795,809.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey Stephen Mccreary sold 10,000 shares of Benchmark Electronics stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $39.49, for a total transaction of $394,900.00. Following the completion of the sale, the director now owns 45,062 shares in the company, valued at $1,779,498.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,560 shares of company stock worth $688,374. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BHE. Trust Point Inc. acquired a new position in shares of Benchmark Electronics during the 4th quarter worth about $445,000. Camelot Portfolios LLC bought a new stake in shares of Benchmark Electronics during the 4th quarter worth about $242,000. Nisa Investment Advisors LLC boosted its holdings in shares of Benchmark Electronics by 1.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 28,848 shares of the technology company’s stock worth $797,000 after buying an additional 500 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of Benchmark Electronics during the 4th quarter worth about $495,000. Finally, Everence Capital Management Inc. bought a new stake in shares of Benchmark Electronics during the 4th quarter worth about $223,000. 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.