Benchmark Electronics (NYSE:BHE) Rating Increased to Buy at StockNews.com

Benchmark Electronics (NYSE:BHE) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Separately, Needham & Company LLC raised their price objective on shares of Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Benchmark Electronics has an average rating of “Moderate Buy” and a consensus target price of $42.33.

Benchmark Electronics Stock Performance

Benchmark Electronics stock traded down $0.16 on Tuesday, reaching $46.16. 201,443 shares of the stock were exchanged, compared to its average volume of 170,736. The stock has a market cap of $1.66 billion, a PE ratio of 26.84 and a beta of 1.00. The firm has a fifty day moving average price of $47.50 and a two-hundred day moving average price of $43.97. Benchmark Electronics has a twelve month low of $25.35 and a twelve month high of $52.57. The company has a current ratio of 2.36, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25.

Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. The firm had revenue of $658.00 million during the quarter, compared to the consensus estimate of $650.00 million. Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%. The business’s revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 EPS.

Insider Buying and Selling

In other Benchmark Electronics news, SVP Rhonda R. Turner sold 6,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $46.98, for a total value of $281,880.00. Following the completion of the transaction, the senior vice president now directly owns 47,991 shares of the company’s stock, valued at approximately $2,254,617.18. The trade was a 11.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeff Benck sold 24,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $45.90, for a total transaction of $1,101,600.00. Following the sale, the chief executive officer now directly owns 424,173 shares in the company, valued at $19,469,540.70. This trade represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Benchmark Electronics

Several large investors have recently bought and sold shares of the business. Natixis Advisors LLC boosted its stake in Benchmark Electronics by 8.7% in the 2nd quarter. Natixis Advisors LLC now owns 25,155 shares of the technology company’s stock worth $993,000 after purchasing an additional 2,015 shares during the period. Rhumbline Advisers raised its position in Benchmark Electronics by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 115,465 shares of the technology company’s stock valued at $4,556,000 after buying an additional 692 shares during the last quarter. Quest Partners LLC bought a new stake in Benchmark Electronics in the 2nd quarter valued at approximately $41,000. ClariVest Asset Management LLC boosted its position in Benchmark Electronics by 2.8% during the 2nd quarter. ClariVest Asset Management LLC now owns 38,215 shares of the technology company’s stock worth $1,508,000 after acquiring an additional 1,027 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Benchmark Electronics by 176.6% during the 2nd quarter. American Century Companies Inc. now owns 615,036 shares of the technology company’s stock worth $24,269,000 after acquiring an additional 392,699 shares in the last quarter. 92.29% of the stock is currently owned by institutional investors and hedge funds.

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.