OppenheimerFunds Inc. increased its stake in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,721 shares of the technology company’s stock after acquiring an additional 4,212 shares during the period. OppenheimerFunds Inc. owned about 0.11% of Benchmark Electronics worth $1,592,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Employees Retirement System of Texas acquired a new stake in shares of Benchmark Electronics during the fourth quarter worth $378,000. Systematic Financial Management LP raised its holdings in shares of Benchmark Electronics by 105.5% during the fourth quarter. Systematic Financial Management LP now owns 145,774 shares of the technology company’s stock worth $4,242,000 after acquiring an additional 74,840 shares during the period. Royce & Associates LP raised its holdings in shares of Benchmark Electronics by 36.3% during the fourth quarter. Royce & Associates LP now owns 857,578 shares of the technology company’s stock worth $24,956,000 after acquiring an additional 228,298 shares during the period. BlackRock Inc. raised its holdings in shares of Benchmark Electronics by 1.0% during the fourth quarter. BlackRock Inc. now owns 6,617,833 shares of the technology company’s stock worth $192,579,000 after acquiring an additional 64,458 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of Benchmark Electronics by 13.9% during the fourth quarter. Rhumbline Advisers now owns 120,710 shares of the technology company’s stock worth $3,513,000 after acquiring an additional 14,772 shares during the period. Institutional investors and hedge funds own 98.03% of the company’s stock.
Separately, TheStreet upgraded shares of Benchmark Electronics from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $36.67.
Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.12. Benchmark Electronics had a negative net margin of 1.30% and a positive return on equity of 5.83%. The business had revenue of $679.86 million for the quarter.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 11th. Investors of record on Thursday, March 29th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Wednesday, March 28th.
Benchmark Electronics declared that its board has authorized a share repurchase plan on Wednesday, March 7th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the technology company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
Benchmark Electronics 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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