Benchmark Electronics (NYSE:BHE) Downgraded to Hold Rating by StockNews.com

Benchmark Electronics (NYSE:BHE) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other brokerages also recently issued reports on BHE. Needham & Company LLC cut their price target on shares of Benchmark Electronics from $50.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday. Lake Street Capital reduced their price target on shares of Benchmark Electronics from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday.

Benchmark Electronics Stock Up 3.8 %

Shares of NYSE:BHE opened at $34.95 on Friday. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 20.20 and a beta of 0.83. Benchmark Electronics has a fifty-two week low of $30.73 and a fifty-two week high of $52.57. The firm’s 50-day simple moving average is $37.41 and its 200-day simple moving average is $42.92. The company has a quick ratio of 1.46, a current ratio of 2.32 and a debt-to-equity ratio of 0.24.

Benchmark Electronics (NYSE:BHE) last released its earnings results on Tuesday, April 29th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. The company had revenue of $631.76 million for the quarter, compared to analysts’ expectations of $640.00 million. Benchmark Electronics had a return on equity of 6.68% and a net margin of 2.38%. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS.

Insider Activity at Benchmark Electronics

In related news, CEO Jeff Benck sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $38.82, for a total value of $232,920.00. Following the sale, the chief executive officer now owns 448,180 shares of the company’s stock, valued at approximately $17,398,347.60. This represents a 1.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Benchmark Electronics

A number of institutional investors have recently made changes to their positions in BHE. Parkside Financial Bank & Trust acquired a new stake in shares of Benchmark Electronics during the fourth quarter valued at $50,000. Versant Capital Management Inc grew its holdings in shares of Benchmark Electronics by 197.5% during the first quarter. Versant Capital Management Inc now owns 2,475 shares of the technology company’s stock worth $94,000 after buying an additional 1,643 shares in the last quarter. KBC Group NV raised its position in shares of Benchmark Electronics by 40.2% in the fourth quarter. KBC Group NV now owns 2,151 shares of the technology company’s stock valued at $98,000 after buying an additional 617 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Benchmark Electronics by 12.9% during the fourth quarter. GAMMA Investing LLC now owns 2,547 shares of the technology company’s stock valued at $116,000 after buying an additional 292 shares during the period. Finally, State of Wyoming boosted its position in Benchmark Electronics by 213.4% during the fourth quarter. State of Wyoming now owns 3,563 shares of the technology company’s stock worth $162,000 after acquiring an additional 2,426 shares during the last quarter. 92.29% of the stock is owned by institutional investors and hedge funds.

About Benchmark Electronics

Benchmark Electronics, Inc, together with its subsidiaries, offers product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company provides engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing and technology solutions, as well as automation equipment design and build services.