Benchmark Electronics, Inc. (NYSE:BHE)‘s stock had its “neutral” rating reiterated by stock analysts at Citigroup Inc. in a report issued on Friday. They presently have a $36.00 price objective on the technology company’s stock, up from their prior price objective of $32.00. Citigroup Inc.’s target price points to a potential upside of 7.46% from the company’s current price.
Other equities research analysts also recently issued reports about the company. Needham & Company LLC increased their price target on Benchmark Electronics from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. BidaskClub downgraded Benchmark Electronics from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Finally, Royal Bank Of Canada increased their price target on Benchmark Electronics from $33.00 to $37.00 and gave the stock a “sector perform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $32.00.
Benchmark Electronics (BHE) opened at 33.50 on Friday. The stock’s 50 day moving average price is $33.23 and its 200 day moving average price is $31.90. Benchmark Electronics has a 1-year low of $22.55 and a 1-year high of $35.25. The stock has a market capitalization of $1.67 billion, a PE ratio of 26.59 and a beta of 0.51.
Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings results 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 return on equity of 5.59% and a net margin of 2.84%. The firm had revenue of $616.90 million for the quarter, compared to the consensus estimate of $577 million. During the same period in the prior year, the business posted $0.31 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities research analysts predict that Benchmark Electronics will post $1.47 earnings per share for the current fiscal year.
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In other Benchmark Electronics news, insider Jon J. King sold 24,627 shares of the firm’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $31.40, for a total transaction of $773,287.80. Following the transaction, the insider now directly owns 51,848 shares in the company, valued at approximately $1,628,027.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BHE. Envestnet Asset Management Inc. increased its position in Benchmark Electronics by 36.1% in the first quarter. Envestnet Asset Management Inc. now owns 3,388 shares of the technology company’s stock valued at $108,000 after buying an additional 898 shares during the last quarter. Founders Capital Management purchased a new position in Benchmark Electronics during the first quarter valued at approximately $127,000. Ameritas Investment Partners Inc. purchased a new position in Benchmark Electronics during the first quarter valued at approximately $129,000. State of Alaska Department of Revenue increased its position 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 during the last quarter. Finally, Citadel Advisors LLC purchased a new position in Benchmark Electronics during the first quarter valued at approximately $207,000. Institutional investors own 96.60% of the company’s stock.
About Benchmark Electronics
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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