Benchmark Electronics (NYSE:BHE) Rating Lowered to Neutral at Sidoti

Benchmark Electronics (NYSE:BHE) was downgraded by equities research analysts at Sidoti from a “buy” rating to a “neutral” rating in a research report issued on Tuesday, The Fly reports. They currently have a $36.00 target price on the technology company’s stock. Sidoti’s target price suggests a potential upside of 7.66% from the stock’s current price.

Shares of BHE traded down $0.21 during midday trading on Tuesday, reaching $33.44. The stock had a trading volume of 238,879 shares, compared to its average volume of 313,964. The company’s 50-day moving average is $31.62 and its 200 day moving average is $27.18. Benchmark Electronics has a 12-month low of $20.01 and a 12-month high of $34.70. The company has a current ratio of 2.72, a quick ratio of 2.00 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 23.06 and a beta of 0.89.

Benchmark Electronics (NYSE:BHE) last posted its quarterly earnings data on Thursday, October 24th. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. Benchmark Electronics had a return on equity of 5.49% and a net margin of 2.40%. The firm had revenue of $555.00 million during the quarter, compared to analysts’ expectations of $539.55 million. During the same period in the prior year, the business earned $0.33 EPS. The company’s revenue for the quarter was down 13.4% compared to the same quarter last year.

In other news, VP Lisa K. Weeks sold 3,518 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $28.31, for a total value of $99,594.58. Following the completion of the transaction, the vice president now directly owns 24,224 shares in the company, valued at approximately $685,781.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Grantham Mayo Van Otterloo & Co. LLC raised its position in Benchmark Electronics by 844.6% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 228,600 shares of the technology company’s stock valued at $5,742,000 after purchasing an additional 204,400 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Benchmark Electronics by 4.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 243,598 shares of the technology company’s stock valued at $6,119,000 after purchasing an additional 11,441 shares during the last quarter. Stephens Inc. AR raised its position in Benchmark Electronics by 7.4% during the 2nd quarter. Stephens Inc. AR now owns 8,208 shares of the technology company’s stock valued at $206,000 after purchasing an additional 567 shares during the last quarter. Stone Ridge Asset Management LLC raised its position in Benchmark Electronics by 5.1% during the 2nd quarter. Stone Ridge Asset Management LLC now owns 26,877 shares of the technology company’s stock valued at $675,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in Benchmark Electronics by 4.0% during the 3rd quarter. Meeder Asset Management Inc. now owns 43,863 shares of the technology company’s stock valued at $1,275,000 after purchasing an additional 1,689 shares during the last quarter. 94.47% of the stock is owned by institutional investors and hedge funds.

Benchmark Electronics Company Profile

Benchmark Electronics, Inc, together with its subsidiaries, provides product design, engineering services, technology solutions, and advanced manufacturing services in the Americas, Asia, and Europe. The company offers engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing, and automation equipment design and build services.

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