Schwab Charles Investment Management Inc. increased its position in Benchmark Electronics, Inc. (NYSE:BHE) by 9.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 523,185 shares of the technology company’s stock after buying an additional 43,481 shares during the period. Schwab Charles Investment Management Inc. owned approximately 1.05% of Benchmark Electronics worth $16,638,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Two Sigma Investments LP bought a new stake in Benchmark Electronics during the fourth quarter worth $285,000. Guggenheim Capital LLC raised its stake in Benchmark Electronics by 0.9% in the fourth quarter. Guggenheim Capital LLC now owns 169,165 shares of the technology company’s stock worth $5,159,000 after buying an additional 1,490 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Benchmark Electronics by 6.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 26,600 shares of the technology company’s stock worth $811,000 after buying an additional 1,700 shares in the last quarter. Meritage Portfolio Management acquired a new stake in shares of Benchmark Electronics during the first quarter valued at approximately $2,769,000. Finally, Acadian Asset Management LLC raised its stake in shares of Benchmark Electronics by 44.7% in the first quarter. Acadian Asset Management LLC now owns 1,023,693 shares of the technology company’s stock valued at $32,553,000 after buying an additional 316,215 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.
Shares of Benchmark Electronics, Inc. (NYSE:BHE) opened at 33.50 on Friday. The firm’s 50-day moving average price is $33.23 and its 200 day moving average price is $31.90. The firm has a market capitalization of $1.67 billion, a P/E ratio of 26.59 and a beta of 0.51. Benchmark Electronics, Inc. has a 12 month low of $22.55 and a 12 month high of $35.25.
Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.04. The firm had revenue of $616.90 million for the quarter, compared to the consensus estimate of $577 million. Benchmark Electronics had a net margin of 2.84% and a return on equity of 5.59%. Benchmark Electronics’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $0.31 EPS. Analysts anticipate that Benchmark Electronics, Inc. will post $1.47 earnings per share for the current fiscal year.
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Several brokerages have recently commented on BHE. Royal Bank Of Canada increased their price objective on Benchmark Electronics from $33.00 to $37.00 and gave the company a “sector perform” rating in a report on Thursday. Needham & Company LLC increased their price objective 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. reissued a “neutral” rating and issued a $36.00 target price (up from $32.00) on shares of Benchmark Electronics in a research report on Friday. Finally, BidaskClub downgraded Benchmark Electronics from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Benchmark Electronics has an average rating of “Hold” and a consensus target price of $32.00.
In related news, insider Jon J. King sold 24,627 shares of Benchmark Electronics stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $31.40, for a total value of $773,287.80. Following the sale, the insider now directly owns 51,848 shares in the company, valued at approximately $1,628,027.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.
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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