Benchmark Electronics, Inc. (NYSE:BHE) had its target price upped by Needham & Company LLC from $28.00 to $34.00 in a report issued on Thursday morning. Needham & Company LLC currently has a buy rating on the stock.
Other analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Benchmark Electronics from a sell rating to a hold rating in a report on Wednesday, December 21st. B. Riley reiterated a neutral rating and issued a $23.00 target price on shares of Benchmark Electronics in a report on Wednesday, November 2nd. RBC Capital Markets reiterated a sector perform rating and issued a $26.00 target price (up previously from $24.00) on shares of Benchmark Electronics in a report on Monday, October 24th. Finally, Cross Research downgraded shares of Benchmark Electronics from a hold rating to a sell rating in a report on Friday, October 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $27.50.
Benchmark Electronics (NYSE:BHE) opened at 32.15 on Thursday. The stock has a 50 day moving average price of $30.73 and a 200-day moving average price of $27.04. Benchmark Electronics has a 1-year low of $18.54 and a 1-year high of $33.44. The stock has a market capitalization of $1.58 billion, a P/E ratio of 24.92 and a beta of 0.65.
Benchmark Electronics (NYSE:BHE) last posted its earnings results on Wednesday, February 8th. The company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.04. Benchmark Electronics had a net margin of 2.77% and a return on equity of 5.14%. The firm earned $608 million during the quarter, compared to the consensus estimate of $598.39 million. During the same quarter last year, the firm earned $0.48 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. Equities research analysts expect that Benchmark Electronics will post $1.52 EPS for the current year.
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In other news, Director Douglas G. Duncan sold 40,000 shares of Benchmark Electronics stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $28.77, for a total transaction of $1,150,800.00. Following the completion of the sale, the director now directly owns 41,774 shares of the company’s stock, valued at approximately $1,201,837.98. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Flinton Capital Management LLC purchased a new stake in Benchmark Electronics during the fourth quarter valued at about $122,000. KBC Group NV boosted its stake in Benchmark Electronics by 138.0% in the third quarter. KBC Group NV now owns 5,921 shares of the company’s stock valued at $148,000 after buying an additional 3,433 shares during the period. Suntrust Banks Inc. purchased a new stake in Benchmark Electronics during the third quarter valued at about $200,000. Mason Street Advisors LLC purchased a new stake in Benchmark Electronics during the second quarter valued at about $204,000. Finally, Airain ltd purchased a new stake in Benchmark Electronics during the second quarter valued at about $215,000. 99.15% of the stock is owned by institutional investors and hedge funds.
Benchmark Electronics Company Profile
Benchmark Electronics, Inc is a provider of integrated electronic manufacturing services. The Company 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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