Benchmark Electronics (NYSE:BHE) Earns Hold Rating from Analysts at Needham & Company LLC

Needham & Company LLC assumed coverage on shares of Benchmark Electronics (NYSE:BHE) in a research note issued to investors on Thursday morning, TipRanks reports. The firm issued a hold rating on the technology company’s stock.

BHE has been the topic of several other reports. Sidoti lifted their target price on Benchmark Electronics from $24.00 to $28.00 and gave the stock a buy rating in a report on Thursday, June 4th. Lake Street Capital lifted their price objective on Benchmark Electronics from $24.00 to $28.00 in a research note on Thursday, April 30th.

Benchmark Electronics stock opened at $20.36 on Thursday. The business has a 50 day moving average of $20.58 and a 200-day moving average of $23.59. The company has a market capitalization of $741.43 million, a P/E ratio of 2,038.04 and a beta of 1.06. Benchmark Electronics has a 1 year low of $14.06 and a 1 year high of $37.36. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.60 and a quick ratio of 2.02.

Benchmark Electronics (NYSE:BHE) last posted its earnings results on Wednesday, July 29th. The technology company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.02). The business had revenue of $491.00 million for the quarter, compared to the consensus estimate of $474.33 million. Benchmark Electronics had a return on equity of 3.46% and a net margin of 0.03%. The company’s revenue was down 18.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 earnings per share.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Monday, June 29th. Benchmark Electronics’s dividend payout ratio (DPR) is 48.48%.

In related news, Director Jeffrey Stephen Mccreary bought 7,500 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average cost of $20.35 per share, with a total value of $152,625.00. Following the completion of the purchase, the director now directly owns 66,580 shares in the company, valued at $1,354,903. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of BHE. Federated Hermes Inc. grew its stake in Benchmark Electronics by 59.5% in the first quarter. Federated Hermes Inc. now owns 2,450 shares of the technology company’s stock valued at $49,000 after acquiring an additional 914 shares during the period. Advisor Group Holdings Inc. acquired a new stake in Benchmark Electronics in the 1st quarter valued at $125,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Benchmark Electronics by 146.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,745 shares of the technology company’s stock valued at $146,000 after purchasing an additional 4,012 shares in the last quarter. CWM Advisors LLC acquired a new position in Benchmark Electronics during the first quarter worth $196,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Benchmark Electronics in the second quarter valued at $202,000. 94.68% of the stock is currently owned by institutional investors and hedge funds.

Benchmark Electronics Company Profile

Benchmark Electronics, Inc, together with its subsidiaries, provides product design, engineering services, technology solutions, and advanced manufacturing services in the Americas, Asia, and Europe. The company offers engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing, and automation equipment design and build services.

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