Benchmark Electronics Inc. (NYSE:BHE) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Benchmark Electronics, Inc. provides contract electronics manufacturing and design services to original equipment manufacturers in select industries, including medical devices, communications equipment, industrial and business computers, testing instrumentation and industrial controls. They specializes in manufacturing high quality, technologically complex printed circuit board assemblies with computer-automated equipment using surface mount and pin-through-hole interconnection technologies for customers requiring low to medium volume production runs. “

A number of other research analysts have also recently commented on BHE. TheStreet upgraded shares of Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Monday, July 25th. B. Riley reiterated a “neutral” rating and set a $23.00 price target on shares of Benchmark Electronics in a research report on Monday, July 25th. Finally, Needham & Company LLC increased their price target on shares of Benchmark Electronics from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, July 22nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Benchmark Electronics presently has a consensus rating of “Hold” and a consensus target price of $24.00.

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Benchmark Electronics (NYSE:BHE) traded up 1.77% on Wednesday, hitting $24.74. 206,874 shares of the company were exchanged. The stock has a 50 day moving average of $24.12 and a 200 day moving average of $22.14. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 15.03 and a beta of 0.71. Benchmark Electronics has a 52 week low of $18.36 and a 52 week high of $24.82.

Benchmark Electronics (NYSE:BHE) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The company earned $579 million during the quarter, compared to the consensus estimate of $582.89 million. Benchmark Electronics had a return on equity of 5.52% and a net margin of 3.51%. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter last year, the company posted $0.42 earnings per share. Analysts predict that Benchmark Electronics will post $1.34 EPS for the current fiscal year.

In other news, CEO Gayla J. Delly sold 25,497 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $24.22, for a total value of $617,537.34. Following the transaction, the chief executive officer now owns 276,264 shares in the company, valued at $6,691,114.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Donald Francis Adam sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $23.46, for a total transaction of $938,400.00. Following the completion of the transaction, the chief financial officer now owns 126,513 shares in the company, valued at approximately $2,967,994.98. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. HBK Investments L P purchased a new position in shares of Benchmark Electronics during the first quarter valued at about $588,000. Wellington Management Group LLP raised its stake in shares of Benchmark Electronics by 17.6% in the first quarter. Wellington Management Group LLP now owns 15,095 shares of the company’s stock worth $348,000 after buying an additional 2,264 shares during the last quarter. Adirondack Research & Management Inc. raised its stake in shares of Benchmark Electronics by 9.6% in the first quarter. Adirondack Research & Management Inc. now owns 88,273 shares of the company’s stock worth $2,035,000 after buying an additional 7,700 shares during the last quarter. State Street Corp raised its stake in shares of Benchmark Electronics by 5.0% in the first quarter. State Street Corp now owns 1,224,445 shares of the company’s stock worth $28,221,000 after buying an additional 57,814 shares during the last quarter. Finally, Spark Investment Management LLC raised its stake in shares of Benchmark Electronics by 298.1% in the first quarter. Spark Investment Management LLC now owns 107,500 shares of the company’s stock worth $2,477,000 after buying an additional 80,500 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

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.

5 Day Chart for NYSE:BHE

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