Benchmark Electronics, Inc. (NYSE:BHE) had its target price boosted by equities research analysts at Royal Bank Of Canada from $33.00 to $37.00 in a research report issued on Thursday. The firm currently has a “sector perform” rating on the technology company’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 5.71% from the stock’s current price.
Several other equities analysts have also issued reports on the stock. Needham & Company LLC boosted their price target on shares of Benchmark Electronics from $34.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday. BidaskClub lowered shares of Benchmark Electronics from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $31.00.
Shares of Benchmark Electronics (NYSE:BHE) opened at 35.00 on Thursday. The firm has a market capitalization of $1.74 billion, a PE ratio of 27.78 and a beta of 0.51. The stock’s 50 day moving average price is $33.21 and its 200-day moving average price is $31.89. Benchmark Electronics has a 12 month low of $22.46 and a 12 month high of $35.25.
Benchmark Electronics (NYSE:BHE) last posted its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. Benchmark Electronics had a net margin of 2.69% and a return on equity of 5.38%. The firm had revenue of $616.90 million during the quarter, compared to analysts’ expectations of $577 million. During the same quarter in the previous year, the company posted $0.31 EPS. Benchmark Electronics’s revenue was up 6.5% on a year-over-year basis. On average, equities analysts anticipate that Benchmark Electronics will post $1.47 earnings per share for the current fiscal year.
In other news, insider Jon J. King sold 24,627 shares of the company’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $31.40, for a total value of $773,287.80. Following the sale, the insider now directly owns 51,848 shares of the company’s stock, valued at approximately $1,628,027.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.90% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System boosted its stake in Benchmark Electronics by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 20,300 shares of the technology company’s stock valued at $656,000 after buying an additional 100 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in Benchmark Electronics by 1.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 11,170 shares of the technology company’s stock valued at $355,000 after buying an additional 160 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Benchmark Electronics by 3.4% in the first quarter. State of Alaska Department of Revenue now owns 5,480 shares of the technology company’s stock valued at $174,000 after buying an additional 180 shares in the last quarter. Texas Permanent School Fund boosted its stake in Benchmark Electronics by 0.8% in the first quarter. Texas Permanent School Fund now owns 35,931 shares of the technology company’s stock valued at $1,143,000 after buying an additional 281 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Benchmark Electronics by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 27,720 shares of the technology company’s stock valued at $881,000 after buying an additional 332 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors.
Benchmark Electronics Company Profile
Benchmark Electronics, Inc is a provider of electronic manufacturing services. The Company operates through three segments: the Americas, Asia and Europe. It provides services to original equipment manufacturers of industrial control equipment, including equipment for the aerospace and defense industry; telecommunication equipment; computers and related products for business enterprises; medical devices, and testing and instrumentation products.
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