Bayesian Capital Management LP Acquires Shares of 5,550 Benchmark Electronics, Inc. (NYSE:BHE)

Bayesian Capital Management LP bought a new stake in Benchmark Electronics, Inc. (NYSE:BHE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,550 shares of the technology company’s stock, valued at approximately $252,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Parkside Financial Bank & Trust acquired a new position in Benchmark Electronics in the fourth quarter worth $50,000. KBC Group NV boosted its holdings in shares of Benchmark Electronics by 40.2% in the 4th quarter. KBC Group NV now owns 2,151 shares of the technology company’s stock valued at $98,000 after buying an additional 617 shares during the period. GAMMA Investing LLC grew its position in shares of Benchmark Electronics by 12.9% during the 4th quarter. GAMMA Investing LLC now owns 2,547 shares of the technology company’s stock valued at $116,000 after buying an additional 292 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Benchmark Electronics by 94.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,693 shares of the technology company’s stock worth $213,000 after acquiring an additional 2,278 shares during the period. Finally, Bank of Montreal Can lifted its holdings in Benchmark Electronics by 10.7% in the fourth quarter. Bank of Montreal Can now owns 5,100 shares of the technology company’s stock worth $232,000 after acquiring an additional 495 shares during the last quarter. 92.29% of the stock is currently owned by hedge funds and other institutional investors.

Benchmark Electronics Stock Performance

BHE opened at $34.91 on Friday. The company has a current ratio of 2.32, a quick ratio of 1.46 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $37.03 and its 200-day moving average is $42.67. The stock has a market cap of $1.26 billion, a PE ratio of 20.18 and a beta of 0.92. Benchmark Electronics, Inc. has a twelve month low of $30.73 and a twelve month high of $52.57.

Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings results on Tuesday, April 29th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The company had revenue of $631.76 million during the quarter, compared to analyst estimates of $640.00 million. Benchmark Electronics had a return on equity of 6.68% and a net margin of 2.38%. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS.

Benchmark Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Monday, March 31st were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.68 annualized dividend and a yield of 1.95%. Benchmark Electronics’s payout ratio is 46.90%.

Insiders Place Their Bets

In other news, CEO Jeff Benck sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $38.82, for a total value of $232,920.00. Following the completion of the sale, the chief executive officer now owns 448,180 shares in the company, valued at $17,398,347.60. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BHE has been the subject of several recent research reports. Lake Street Capital lowered their target price on Benchmark Electronics from $52.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. StockNews.com downgraded Benchmark Electronics from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Finally, Needham & Company LLC cut their target price on Benchmark Electronics from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th.

About Benchmark Electronics

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