Wells Fargo & Company MN increased its holdings in Benchmark Electronics (NYSE:BHE) by 15.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 86,505 shares of the technology company’s stock after acquiring an additional 11,544 shares during the period. Wells Fargo & Company MN owned approximately 0.17% of Benchmark Electronics worth $2,517,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC acquired a new position in Benchmark Electronics during the third quarter worth $230,000. Fox Run Management L.L.C. acquired a new stake in Benchmark Electronics in the fourth quarter valued at $323,000. Macquarie Group Ltd. acquired a new stake in Benchmark Electronics in the third quarter valued at $478,000. Alambic Investment Management L.P. raised its stake in Benchmark Electronics by 32.7% in the fourth quarter. Alambic Investment Management L.P. now owns 15,000 shares of the technology company’s stock valued at $437,000 after buying an additional 3,700 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in Benchmark Electronics in the fourth quarter valued at $504,000. Institutional investors own 97.98% of the company’s stock.
Separately, TheStreet raised Benchmark Electronics from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. Benchmark Electronics presently has a consensus rating of “Hold” and a consensus target price of $36.67.
NYSE BHE opened at $31.30 on Thursday. Benchmark Electronics has a 52-week low of $27.05 and a 52-week high of $35.80. The stock has a market cap of $1,522.78, a P/E ratio of 19.53 and a beta of 0.38. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.55 and a current ratio of 3.38.
Benchmark Electronics (NYSE:BHE) last posted its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.12. Benchmark Electronics had a negative net margin of 1.30% and a positive return on equity of 5.83%. The company had revenue of $679.86 million during the quarter.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 11th. Investors of record on Thursday, March 29th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, March 28th. This represents a $0.60 annualized dividend and a dividend yield of 1.92%. Benchmark Electronics’s dividend payout ratio is currently 37.27%.
Benchmark Electronics announced that its board has approved a stock buyback program on Wednesday, March 7th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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Benchmark Electronics Company Profile
Benchmark Electronics, Inc, together with its subsidiaries, provides engineering services, integrated technology solutions, and 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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