Benchmark Electronics (NYSE:BHE) Price Target Increased to $46.00 by Analysts at Lake Street Capital

Benchmark Electronics (NYSE:BHE) had its price objective lifted by research analysts at Lake Street Capital from $35.00 to $46.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Lake Street Capital’s price objective indicates a potential downside of 2.27% from the stock’s previous close.

A number of other research analysts have also issued reports on the company. Fox Advisors lowered Benchmark Electronics from an “overweight” rating to an “equal weight” rating in a report on Wednesday, May 15th. StockNews.com lowered shares of Benchmark Electronics from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Sidoti lowered shares of Benchmark Electronics from a “buy” rating to a “neutral” rating and set a $33.00 price target for the company. in a report on Monday, April 29th. Finally, Needham & Company LLC increased their target price on shares of Benchmark Electronics from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Benchmark Electronics has a consensus rating of “Hold” and an average price target of $41.33.

Benchmark Electronics Stock Up 15.7 %

Shares of BHE stock traded up $6.38 during mid-day trading on Wednesday, hitting $47.07. 321,862 shares of the stock traded hands, compared to its average volume of 337,228. The stock’s fifty day moving average is $40.95 and its two-hundred day moving average is $34.51. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.36 and a quick ratio of 1.41. Benchmark Electronics has a 52-week low of $22.66 and a 52-week high of $48.19. The stock has a market cap of $1.70 billion, a P/E ratio of 26.32 and a beta of 0.99.

Benchmark Electronics (NYSE:BHE) last posted its earnings results on Tuesday, July 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. The business had revenue of $666.00 million for the quarter, compared to analyst estimates of $635.75 million. Benchmark Electronics had a net margin of 2.34% and a return on equity of 7.20%. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 EPS.

Insider Buying and Selling at Benchmark Electronics

In other news, CFO Arvind Kamal sold 783 shares of the company’s 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 transaction, the chief financial officer now directly owns 20,735 shares in the company, valued at $795,809.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Jan M. Janick sold 6,777 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $38.87, for a total transaction of $263,421.99. Following the sale, the senior vice president now owns 67,774 shares in the company, valued at approximately $2,634,375.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Arvind Kamal sold 783 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $38.38, for a total transaction of $30,051.54. Following the sale, the chief financial officer now owns 20,735 shares of the company’s stock, valued at $795,809.30. The disclosure for this sale can be found here. Insiders sold 17,560 shares of company stock valued at $688,374 in the last quarter. 2.10% of the stock is currently owned by insiders.

Institutional Trading of Benchmark Electronics

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Benchmark Electronics by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 4,845,204 shares of the technology company’s stock worth $145,405,000 after acquiring an additional 159,716 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Benchmark Electronics by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,996,161 shares of the technology company’s stock valued at $82,815,000 after purchasing an additional 21,170 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Benchmark Electronics by 1.8% in the 4th quarter. Franklin Resources Inc. now owns 2,351,157 shares of the technology company’s stock valued at $64,986,000 after acquiring an additional 42,570 shares during the period. First Trust Advisors LP boosted its position in Benchmark Electronics by 36.9% in the 4th quarter. First Trust Advisors LP now owns 902,475 shares of the technology company’s stock valued at $24,944,000 after buying an additional 243,480 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Benchmark Electronics by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 892,102 shares of the technology company’s stock valued at $24,658,000 after purchasing an additional 30,941 shares in the last quarter. 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.