StockNews.com Upgrades Benchmark Electronics (NYSE:BHE) to “Buy”

Benchmark Electronics (NYSE:BHE) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

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

Benchmark Electronics Stock Up 1.1 %

Shares of NYSE:BHE opened at $46.85 on Tuesday. Benchmark Electronics has a 52-week low of $25.35 and a 52-week high of $52.57. The stock has a market cap of $1.69 billion, a P/E ratio of 27.24 and a beta of 0.99. The business has a fifty day moving average of $47.11 and a two-hundred day moving average of $43.56. The company has a quick ratio of 1.45, a current ratio of 2.36 and a debt-to-equity ratio of 0.25.

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

Insider Activity at Benchmark Electronics

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

Hedge Funds Weigh In On Benchmark Electronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. grew its position in shares of Benchmark Electronics by 65.7% during the second quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock worth $27,000 after buying an additional 272 shares in the last quarter. Quest Partners LLC acquired a new position in Benchmark Electronics during the 2nd quarter worth approximately $41,000. Quarry LP increased its position in shares of Benchmark Electronics by 172.5% in the 2nd quarter. Quarry LP now owns 1,379 shares of the technology company’s stock valued at $54,000 after purchasing an additional 873 shares during the last quarter. KBC Group NV raised its holdings in shares of Benchmark Electronics by 125.3% in the 3rd quarter. KBC Group NV now owns 1,534 shares of the technology company’s stock valued at $68,000 after purchasing an additional 853 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Benchmark Electronics in the 2nd quarter valued at $61,000. Hedge funds and other institutional investors own 92.29% of the company’s stock.

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.