Benchmark Electronics, Inc. (NYSE:BHE) had its target price lifted by research analysts at Needham & Company LLC from $34.00 to $37.00 in a report released on Tuesday, July 18th, MarketBeat.com reports. The firm presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 11.28% from the company’s current price.
Separately, BidaskClub downgraded 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, five have issued a hold rating and one has assigned a buy rating to the stock. Benchmark Electronics presently has a consensus rating of “Hold” and a consensus target price of $33.25.
Benchmark Electronics (NYSE:BHE) opened at 33.25 on Tuesday. The stock has a market cap of $1.65 billion, a PE ratio of 24.45 and a beta of 0.51. Benchmark Electronics has a 12 month low of $23.19 and a 12 month high of $35.25. The firm has a 50-day moving average of $33.28 and a 200 day moving average of $32.03.
Benchmark Electronics (NYSE:BHE) last released its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. Benchmark Electronics had a net margin of 2.84% and a return on equity of 5.59%. The company had revenue of $616.90 million during the quarter, compared to the consensus estimate of $577 million. During the same period in the previous year, the firm earned $0.31 earnings per share. Benchmark Electronics’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts anticipate that Benchmark Electronics will post $1.49 EPS for the current year.
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In other news, CFO Donald Francis Adam sold 61,572 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $33.60, for a total value of $2,068,819.20. Following the completion of the transaction, the chief financial officer now directly owns 112,856 shares in the company, valued at $3,791,961.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Texas Permanent School Fund increased its position in Benchmark Electronics by 1.1% in the second quarter. Texas Permanent School Fund now owns 36,313 shares of the technology company’s stock worth $1,173,000 after buying an additional 382 shares during the period. CIBC Asset Management Inc bought a new position in Benchmark Electronics during the second quarter worth approximately $203,000. Great West Life Assurance Co. Can increased its position in Benchmark Electronics by 3.3% in the second quarter. Great West Life Assurance Co. Can now owns 73,163 shares of the technology company’s stock worth $2,359,000 after buying an additional 2,350 shares during the period. Municipal Employees Retirement System of Michigan increased its position in Benchmark Electronics by 4.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 11,720 shares of the technology company’s stock worth $379,000 after buying an additional 550 shares during the period. Finally, Meritage Portfolio Management increased its position in Benchmark Electronics by 91.9% in the second quarter. Meritage Portfolio Management now owns 167,036 shares of the technology company’s stock worth $5,395,000 after buying an additional 79,975 shares during the period. Hedge funds and other institutional investors own 96.63% of the company’s stock.
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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