Insider Selling: Benchmark Electronics, Inc. (BHE) VP Sells 1,000 Shares of Stock
Benchmark Electronics, Inc. (NYSE:BHE) VP Scott R. Peterson sold 1,000 shares of Benchmark Electronics stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $32.06, for a total value of $32,060.00. Following the completion of the transaction, the vice president now owns 18,893 shares in the company, valued at $605,709.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Benchmark Electronics, Inc. (BHE) traded down 0.47% during trading on Thursday, hitting $31.95. The stock had a trading volume of 103,375 shares. Benchmark Electronics, Inc. has a 12-month low of $23.22 and a 12-month high of $35.25. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 23.49 and a beta of 0.52. The stock has a 50 day moving average price of $32.63 and a 200 day moving average price of $32.28.
Benchmark Electronics (NYSE:BHE) last issued its earnings results on Wednesday, July 19th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.04. The company had revenue of $616.90 million for the quarter, compared to analysts’ expectations of $577 million. Benchmark Electronics had a net margin of 2.84% and a return on equity of 5.59%. Benchmark Electronics’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 EPS. Equities research analysts forecast that Benchmark Electronics, Inc. will post $1.49 earnings per share for the current year.
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A number of equities analysts have recently commented on BHE shares. Citigroup Inc. reiterated a “neutral” rating and issued a $36.00 price objective (up from $32.00) on shares of Benchmark Electronics in a research note on Friday, July 21st. BidaskClub lowered Benchmark Electronics from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. 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 research note on Thursday, July 20th. 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 research note on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $33.25.
Several hedge funds have recently modified their holdings of BHE. BlackRock Inc. raised its holdings in shares of Benchmark Electronics by 43,795.9% in the 1st quarter. BlackRock Inc. now owns 6,102,845 shares of the technology company’s stock valued at $194,070,000 after purchasing an additional 6,088,942 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Benchmark Electronics by 16.7% in the 1st quarter. JPMorgan Chase & Co. now owns 2,454,209 shares of the technology company’s stock valued at $78,044,000 after purchasing an additional 351,992 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Benchmark Electronics by 43.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,041,005 shares of the technology company’s stock valued at $33,102,000 after purchasing an additional 316,526 shares during the period. Vanguard Group Inc. raised its holdings in shares of Benchmark Electronics by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 4,528,732 shares of the technology company’s stock valued at $144,013,000 after purchasing an additional 233,703 shares during the period. Finally, Hancock Holding Co. bought a new stake in shares of Benchmark Electronics in the 2nd quarter valued at about $7,210,000. 95.00% of the stock is currently owned by institutional investors.
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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