QS Investors LLC cut its holdings in Benchmark Electronics, Inc. (NYSE:BHE) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 217,706 shares of the technology company’s stock after selling 8,588 shares during the quarter. QS Investors LLC owned approximately 0.44% of Benchmark Electronics worth $6,335,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. boosted its position in 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 last quarter. JPMorgan Chase & Co. boosted its position in Benchmark Electronics by 3.3% during the third quarter. JPMorgan Chase & Co. now owns 2,743,437 shares of the technology company’s stock worth $94,786,000 after acquiring an additional 87,283 shares during the last quarter. Royce & Associates LP boosted its position in 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 last quarter. Victory Capital Management Inc. boosted its position in Benchmark Electronics by 2.8% during the fourth quarter. Victory Capital Management Inc. now owns 834,727 shares of the technology company’s stock worth $24,290,000 after acquiring an additional 22,759 shares during the last quarter. Finally, Thrivent Financial For Lutherans boosted its position in Benchmark Electronics by 398.5% during the fourth quarter. Thrivent Financial For Lutherans now owns 726,022 shares of the technology company’s stock worth $21,127,000 after acquiring an additional 580,392 shares during the last quarter. Institutional investors and hedge funds own 98.03% of the company’s stock.
Shares of Benchmark Electronics, Inc. (BHE) opened at $31.80 on Wednesday. Benchmark Electronics, Inc. has a 1 year low of $27.05 and a 1 year high of $35.80. The stock has a market cap of $1,566.63, a P/E ratio of -48.18 and a beta of 0.39. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.55 and a current ratio of 3.38.
The company 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 dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.60 dividend on an annualized basis and a yield of 1.89%.
Benchmark Electronics declared that its board has authorized a share buyback program on Wednesday, March 7th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Separately, TheStreet lowered shares of Benchmark Electronics from a “b-” rating to a “c” rating in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $36.67.
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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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