Kennedy Capital Management Inc. decreased its position in Benchmark Electronics, Inc. (NYSE:BHE) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 117,640 shares of the technology company’s stock after selling 3,196 shares during the period. Kennedy Capital Management Inc. owned 0.24% of Benchmark Electronics worth $3,800,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in Benchmark Electronics by 8.2% in the second quarter. JPMorgan Chase & Co. now owns 2,656,154 shares of the technology company’s stock valued at $85,795,000 after acquiring an additional 201,945 shares during the last quarter. Swiss National Bank boosted its holdings in Benchmark Electronics by 3.2% in the second quarter. Swiss National Bank now owns 84,000 shares of the technology company’s stock valued at $2,713,000 after acquiring an additional 2,600 shares during the last quarter. Eagle Boston Investment Management Inc. boosted its holdings in Benchmark Electronics by 3.3% in the second quarter. Eagle Boston Investment Management Inc. now owns 223,062 shares of the technology company’s stock valued at $7,204,000 after acquiring an additional 7,069 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Benchmark Electronics by 0.4% in the second quarter. Principal Financial Group Inc. now owns 389,307 shares of the technology company’s stock valued at $12,574,000 after acquiring an additional 1,405 shares during the last quarter. Finally, IndexIQ Advisors LLC bought a new position in Benchmark Electronics in the second quarter valued at about $481,000. Institutional investors and hedge funds own 95.00% of the company’s stock.
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Benchmark Electronics, Inc. (BHE) opened at 32.60 on Friday. The company has a market cap of $1.63 billion, a PE ratio of 23.97 and a beta of 0.52. Benchmark Electronics, Inc. has a one year low of $24.01 and a one year high of $35.25. The firm’s 50-day moving average price is $32.33 and its 200-day moving average price is $32.28.
Benchmark Electronics (NYSE:BHE) last issued its earnings results on Wednesday, July 19th. The technology company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Benchmark Electronics had a return on equity of 5.59% and a net margin of 2.84%. The business had revenue of $616.90 million during the quarter, compared to analysts’ expectations of $577.00 million. During the same quarter in the prior year, the firm earned $0.31 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities research analysts forecast that Benchmark Electronics, Inc. will post $1.49 earnings per share for the current fiscal year.
In other Benchmark Electronics news, Director Douglas G. Duncan sold 5,922 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $31.91, for a total value of $188,971.02. Following the completion of the transaction, the director now owns 30,524 shares of the company’s stock, valued at approximately $974,020.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Scott R. Peterson sold 1,000 shares of the company’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 completion of the transaction, the vice president now directly owns 18,893 shares of the company’s stock, valued at approximately $605,709.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,494 shares of company stock valued at $2,289,850. Insiders own 0.90% of the company’s stock.
Several research firms recently issued reports on BHE. Royal Bank Of Canada raised their price target on Benchmark Electronics from $33.00 to $37.00 and gave the company a “sector perform” rating in a report on Thursday, July 20th. Needham & Company LLC raised their price target on Benchmark Electronics from $34.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. Citigroup Inc. reiterated a “neutral” rating and issued a $36.00 price target (up previously from $32.00) on shares of Benchmark Electronics in a report on Friday, July 21st. Finally, BidaskClub cut Benchmark Electronics from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $33.25.
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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