Pacad Investment Ltd. lowered its holdings in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 30.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,952 shares of the technology company’s stock after selling 2,200 shares during the quarter. Pacad Investment Ltd.’s holdings in Benchmark Electronics were worth $160,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in BHE. Russell Investments Group Ltd. raised its position in shares of Benchmark Electronics by 0.4% during the first quarter. Russell Investments Group Ltd. now owns 339,387 shares of the technology company’s stock worth $10,793,000 after purchasing an additional 1,328 shares during the period. Great West Life Assurance Co. Can raised its position in shares of Benchmark Electronics by 8.4% during the first quarter. Great West Life Assurance Co. Can now owns 70,813 shares of the technology company’s stock worth $2,248,000 after purchasing an additional 5,487 shares during the period. First Trust Advisors LP raised its position in shares of Benchmark Electronics by 0.5% during the first quarter. First Trust Advisors LP now owns 96,292 shares of the technology company’s stock worth $3,062,000 after purchasing an additional 480 shares during the period. Bank of New York Mellon Corp raised its position in shares of Benchmark Electronics by 43.7% during the first quarter. Bank of New York Mellon Corp now owns 1,041,005 shares of the technology company’s stock worth $33,102,000 after purchasing an additional 316,526 shares during the period. Finally, Comerica Bank raised its position in shares of Benchmark Electronics by 5.4% during the first quarter. Comerica Bank now owns 55,225 shares of the technology company’s stock worth $1,784,000 after purchasing an additional 2,821 shares during the period. 95.00% of the stock is currently owned by institutional investors.
Shares of Benchmark Electronics, Inc. (NYSE:BHE) opened at 32.40 on Friday. Benchmark Electronics, Inc. has a 52-week low of $23.81 and a 52-week high of $35.25. The stock’s 50 day moving average price is $32.36 and its 200-day moving average price is $32.28. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 23.82 and a beta of 0.52.
Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The company had revenue of $616.90 million for the quarter, compared to the consensus estimate of $577.00 million. Benchmark Electronics had a return on equity of 5.59% and a net margin of 2.84%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 EPS. On average, analysts forecast that Benchmark Electronics, Inc. will post $1.49 EPS for the current year.
A number of equities research analysts have recently commented on BHE shares. Citigroup Inc. reaffirmed a “neutral” rating and set a $36.00 price target (up previously from $32.00) on shares of Benchmark Electronics in a research report on Friday, July 21st. BidaskClub lowered Benchmark Electronics from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. Royal Bank Of Canada raised their price target on Benchmark Electronics from $33.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 20th. Finally, Needham & Company LLC raised their price target on Benchmark Electronics from $34.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $33.25.
In other news, VP Scott R. Peterson sold 1,000 shares of the business’s 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 transaction, the vice president now directly owns 18,893 shares of the company’s stock, valued at approximately $605,709.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Donald Francis Adam sold 61,572 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $33.60, for a total value of $2,068,819.20. Following the transaction, the chief financial officer now directly owns 112,856 shares in the company, valued at $3,791,961.60. The disclosure for this sale can be found here. Insiders sold a total of 68,494 shares of company stock worth $2,289,850 over the last three months. 0.90% of the stock is owned by company insiders.
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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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