Benchmark Electronics (NYSE:BHE) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Benchmark Electronics (NYSE:BHEFree Report) from a buy rating to a hold rating in a research note released on Friday.

Separately, Needham & Company LLC raised their price objective on Benchmark Electronics from $30.00 to $31.00 and gave the stock a buy rating in a report on Thursday, February 1st.

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Benchmark Electronics Price Performance

BHE stock opened at $30.71 on Friday. Benchmark Electronics has a 52-week low of $20.58 and a 52-week high of $31.09. The stock’s fifty day simple moving average is $27.30 and its 200-day simple moving average is $25.66. The company has a quick ratio of 1.33, a current ratio of 2.29 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 17.09 and a beta of 1.01.

Benchmark Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 29th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Thursday, December 28th. Benchmark Electronics’s dividend payout ratio is currently 36.67%.

Institutional Trading of Benchmark Electronics

Hedge funds have recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Benchmark Electronics by 8.1% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,267 shares of the technology company’s stock valued at $1,040,000 after buying an additional 3,022 shares during the last quarter. Boston Partners lifted its position in shares of Benchmark Electronics by 42.6% during the third quarter. Boston Partners now owns 149,208 shares of the technology company’s stock valued at $3,620,000 after purchasing an additional 44,579 shares in the last quarter. First Eagle Investment Management LLC raised its position in Benchmark Electronics by 119.4% in the third quarter. First Eagle Investment Management LLC now owns 249,809 shares of the technology company’s stock worth $6,060,000 after acquiring an additional 135,932 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Benchmark Electronics by 4.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,810 shares of the technology company’s stock worth $384,000 after purchasing an additional 739 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Benchmark Electronics during the third quarter valued at approximately $499,000. Institutional investors and hedge funds own 92.29% of the company’s stock.

Benchmark Electronics Company Profile

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Benchmark Electronics, Inc, together with its subsidiaries, provides product design, engineering services, technology solutions, and 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 technology solutions, as well as automation equipment design and build services.

Further Reading

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