Insider Selling: Benchmark Electronics, Inc. (BHE) Director Sells 5,922 Shares of Stock
Benchmark Electronics, Inc. (NYSE:BHE) Director Douglas G. Duncan sold 5,922 shares of Benchmark Electronics stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $31.91, for a total value of $188,971.02. Following the completion of the sale, the director now owns 30,524 shares of the company’s stock, valued at $974,020.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Benchmark Electronics, Inc. (NYSE BHE) traded up 0.16% during midday trading on Friday, reaching $31.35. The company had a trading volume of 236,391 shares. Benchmark Electronics, Inc. has a 1-year low of $23.22 and a 1-year high of $35.25. The firm has a 50-day moving average of $33.01 and a 200 day moving average of $32.23. The company has a market capitalization of $1.57 billion, a P/E ratio of 23.05 and a beta of 0.51.
Benchmark Electronics (NYSE:BHE) last released its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. Benchmark Electronics had a return on equity of 5.59% and a net margin of 2.84%. The company had revenue of $616.90 million during the quarter, compared to analysts’ expectations of $577 million. During the same period last year, the business posted $0.31 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts forecast that Benchmark Electronics, Inc. will post $1.49 EPS for the current year.
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Several equities research analysts recently commented on BHE shares. Royal Bank Of Canada lifted their price objective on Benchmark Electronics from $33.00 to $37.00 and gave the stock a “sector perform” rating in a report on Thursday, July 20th. BidaskClub downgraded Benchmark Electronics from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Citigroup Inc. reiterated a “neutral” rating and issued a $36.00 price objective (up from $32.00) on shares of Benchmark Electronics in a report on Friday, July 21st. Finally, Needham & Company LLC lifted their price objective on Benchmark Electronics from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $33.25.
Several hedge funds and other institutional investors have recently made changes to their positions in BHE. Comerica Bank raised its position in shares of Benchmark Electronics by 5.4% in the first quarter. Comerica Bank now owns 55,225 shares of the technology company’s stock worth $1,784,000 after buying an additional 2,821 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Benchmark Electronics by 43.7% in the first quarter. Bank of New York Mellon Corp now owns 1,041,005 shares of the technology company’s stock worth $33,102,000 after buying an additional 316,526 shares in the last quarter. First Trust Advisors LP raised its position in shares of Benchmark Electronics by 0.5% in the first quarter. First Trust Advisors LP now owns 96,292 shares of the technology company’s stock worth $3,062,000 after buying an additional 480 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of Benchmark Electronics by 8.4% in the first quarter. Great West Life Assurance Co. Can now owns 70,813 shares of the technology company’s stock worth $2,248,000 after buying an additional 5,487 shares in the last quarter. Finally, Adams Diversified Equity Fund Inc. raised its position in shares of Benchmark Electronics by 7.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 40,200 shares of the technology company’s stock worth $1,278,000 after buying an additional 2,900 shares in the last quarter. 96.00% of the stock is currently owned by institutional investors and hedge funds.
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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