Published On: Fri, Sep 16th, 2016

Benchmark Electronics Inc. (BHE) Hits New 12-Month High at $24.60

Shares of Benchmark Electronics Inc. (NYSE:BHE) reached a new 52-week high on Thursday . The company traded as high as $24.60 and last traded at $24.59, with a volume of 329,454 shares traded. The stock had previously closed at $23.82.
A number of analysts recently weighed in on the company. Zacks Investment Research upgraded Benchmark Electronics from a “hold” rating to a “strong-buy” rating and set a $27.00 target price for the company in a research report on Monday, July 25th. TheStreet upgraded Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Monday, July 25th. B. Riley restated a “neutral” rating and issued a $23.00 target price on shares of Benchmark Electronics in a research report on Monday, July 25th. Finally, Needham & Company LLC boosted their target price on Benchmark Electronics from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, July 22nd. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $24.00.
The company has a market capitalization of $1.20 billion, a PE ratio of 14.94 and a beta of 0.71. The firm’s 50 day moving average is $24.06 and its 200 day moving average is $22.08.

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Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by $0.01. Benchmark Electronics had a net margin of 3.51% and a return on equity of 5.52%. The company had revenue of $579 million for the quarter, compared to the consensus estimate of $582.89 million. During the same quarter in the previous year, the business earned $0.42 EPS. The company’s quarterly revenue was down 12.8% compared to the same quarter last year. Analysts forecast that Benchmark Electronics Inc. will post $1.34 EPS for the current fiscal year.
In related news, insider Jon J. King sold 12,774 shares of Benchmark Electronics stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $23.57, for a total transaction of $301,083.18. Following the completion of the sale, the insider now owns 40,624 shares in the company, valued at approximately $957,507.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Donald Francis Adam sold 40,000 shares of Benchmark Electronics stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $23.46, for a total transaction of $938,400.00. Following the sale, the chief financial officer now owns 126,513 shares of the company’s stock, valued at approximately $2,967,994.98. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Benchmark Electronics by 2.1% in the second quarter. Vanguard Group Inc. now owns 4,071,733 shares of the company’s stock worth $86,118,000 after buying an additional 84,702 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Benchmark Electronics by 0.9% in the second quarter. BlackRock Fund Advisors now owns 3,220,773 shares of the company’s stock worth $68,119,000 after buying an additional 27,676 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Benchmark Electronics by 20.5% in the second quarter. JPMorgan Chase & Co. now owns 2,026,524 shares of the company’s stock worth $42,861,000 after buying an additional 344,807 shares during the last quarter. LSV Asset Management raised its stake in shares of Benchmark Electronics by 6.3% in the second quarter. LSV Asset Management now owns 1,892,055 shares of the company’s stock worth $40,016,000 after buying an additional 112,014 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Benchmark Electronics by 11.1% in the second quarter. Victory Capital Management Inc. now owns 1,649,564 shares of the company’s stock worth $34,889,000 after buying an additional 165,450 shares during the last quarter. Institutional investors own 96.90% of the company’s stock.
About Benchmark Electronics
Benchmark Electronics, Inc is a provider of integrated electronic manufacturing services. The Company 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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