Systematic Financial Management LP decreased its holdings in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 44.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,064 shares of the technology company’s stock after selling 75,050 shares during the quarter. Systematic Financial Management LP owned about 0.19% of Benchmark Electronics worth $3,071,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Envestnet Asset Management Inc. boosted its stake in Benchmark Electronics by 36.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,388 shares of the technology company’s stock valued at $108,000 after purchasing an additional 898 shares during the period. Founders Capital Management bought a new stake in shares of Benchmark Electronics in the 1st quarter worth approximately $127,000. Ameritas Investment Partners Inc. bought a new stake in shares of Benchmark Electronics in the 1st quarter worth approximately $129,000. CIBC Asset Management Inc bought a new stake in shares of Benchmark Electronics in the 2nd quarter worth approximately $203,000. Finally, Citadel Advisors LLC bought a new stake in shares of Benchmark Electronics in the 1st quarter worth approximately $207,000. Hedge funds and other institutional investors own 95.00% of the company’s stock.
A number of brokerages have commented on BHE. BidaskClub downgraded Benchmark Electronics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Needham & Company LLC raised their price objective on Benchmark Electronics from $34.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Citigroup Inc. reiterated a “neutral” rating and issued a $36.00 price objective (up previously from $32.00) on shares of Benchmark Electronics in a research report on Friday, July 21st. Finally, Royal Bank Of Canada raised their price objective 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. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Benchmark Electronics currently has a consensus rating of “Hold” and an average target price of $33.25.
In other Benchmark Electronics news, CFO Donald Francis Adam sold 61,572 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $33.60, for a total transaction of $2,068,819.20. Following the completion of the transaction, the chief financial officer now directly owns 112,856 shares in the company, valued at $3,791,961.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Douglas G. Duncan sold 5,922 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $31.91, for a total transaction of $188,971.02. Following the transaction, the director now owns 30,524 shares of the company’s stock, valued at $974,020.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,494 shares of company stock valued at $2,289,850. Company insiders own 0.90% of the company’s stock.
Benchmark Electronics, Inc. (BHE) opened at 32.60 on Wednesday. Benchmark Electronics, Inc. has a one year low of $23.68 and a one year high of $35.25. The stock has a 50 day moving average price of $32.48 and a 200-day moving average price of $32.28. The firm has a market capitalization of $1.63 billion, a PE ratio of 23.97 and a beta of 0.52.
Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.04. The business had revenue of $616.90 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 earnings per share. On average, equities analysts forecast that Benchmark Electronics, Inc. will post $1.49 earnings per share for the current year.
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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