KBC Group NV trimmed its stake in Benchmark Electronics, Inc. (NYSE:BHE) by 79.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,254 shares of the technology company’s stock after selling 12,592 shares during the period. KBC Group NV’s holdings in Benchmark Electronics were worth $105,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the business. BNP Paribas Arbitrage SA grew its position in Benchmark Electronics by 47.2% in the second quarter. BNP Paribas Arbitrage SA now owns 20,427 shares of the technology company’s stock valued at $660,000 after acquiring an additional 6,547 shares during the period. SG Americas Securities LLC grew its position in Benchmark Electronics by 9.5% in the second quarter. SG Americas Securities LLC now owns 8,620 shares of the technology company’s stock valued at $278,000 after acquiring an additional 749 shares during the period. ClariVest Asset Management LLC grew its position in Benchmark Electronics by 28.3% in the second quarter. ClariVest Asset Management LLC now owns 208,800 shares of the technology company’s stock valued at $6,744,000 after acquiring an additional 46,000 shares during the period. Rhumbline Advisers grew its position in Benchmark Electronics by 0.4% in the second quarter. Rhumbline Advisers now owns 104,188 shares of the technology company’s stock valued at $3,365,000 after acquiring an additional 368 shares during the period. Finally, Arizona State Retirement System grew its position in Benchmark Electronics by 0.4% in the second quarter. Arizona State Retirement System now owns 25,948 shares of the technology company’s stock valued at $838,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 95.00% of the company’s stock.
A number of brokerages have weighed in on BHE. BidaskClub cut Benchmark Electronics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Needham & Company LLC upped their price target on Benchmark Electronics from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, July 18th. Citigroup Inc. reiterated a “neutral” rating and issued a $36.00 price target (up from $32.00) on shares of Benchmark Electronics in a research report on Friday, July 21st. Finally, Royal Bank Of Canada upped their price target on Benchmark Electronics from $33.00 to $37.00 and gave the company a “sector perform” rating in a research report on Thursday, July 20th. Two equities research 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 an average rating of “Hold” and an average target price of $33.25.
Benchmark Electronics, Inc. (BHE) opened at 32.60 on Wednesday. The firm 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 cap of $1.63 billion, a price-to-earnings ratio of 23.97 and a beta of 0.52. Benchmark Electronics, Inc. has a 1-year low of $23.68 and a 1-year high of $35.25.
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 Thomson Reuters’ consensus estimate of $0.34 by $0.04. Benchmark Electronics had a return on equity of 5.59% and a net margin of 2.84%. The company had revenue of $616.90 million for the quarter, compared to analyst estimates of $577.00 million. During the same quarter last year, the company posted $0.31 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts expect that Benchmark Electronics, Inc. will post $1.49 earnings per share for the current fiscal year.
In other news, CFO Donald Francis Adam sold 61,572 shares of Benchmark Electronics stock in a transaction 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 owns 112,856 shares in the company, valued at approximately $3,791,961.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Douglas G. Duncan sold 5,922 shares of Benchmark Electronics stock in a transaction on Thursday, August 17th. The shares were 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 in the company, valued at approximately $974,020.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,494 shares of company stock worth $2,289,850. Corporate insiders own 0.90% of the company’s stock.
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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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