Benchmark Electronics (NYSE:BHE) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Benchmark Electronics (NYSE:BHE) from a hold rating to a buy rating in a report issued on Friday morning.

Several other research firms have also issued reports on BHE. Needham & Company LLC lifted their price objective on Benchmark Electronics from $30.00 to $31.00 and gave the company a buy rating in a research note on Thursday, February 1st. Sidoti downgraded shares of Benchmark Electronics from a buy rating to a neutral rating and set a $33.00 price target for the company. in a research note on Monday, April 29th.

Benchmark Electronics Stock Performance

BHE traded up $0.67 on Friday, hitting $36.43. The company’s stock had a trading volume of 523,448 shares, compared to its average volume of 293,076. The company’s 50 day simple moving average is $30.28 and its 200-day simple moving average is $27.85. The company has a quick ratio of 1.33, a current ratio of 2.36 and a debt-to-equity ratio of 0.29. Benchmark Electronics has a 12 month low of $20.58 and a 12 month high of $37.41. The firm has a market cap of $1.31 billion, a P/E ratio of 19.91 and a beta of 1.00.

Benchmark Electronics (NYSE:BHE) last posted its earnings results on Wednesday, January 31st. The technology company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Benchmark Electronics had a return on equity of 7.20% and a net margin of 2.34%. The business had revenue of $691.35 million during the quarter.

Benchmark Electronics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were given a dividend of $0.165 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.66 dividend on an annualized basis and a yield of 1.81%. Benchmark Electronics’s dividend payout ratio (DPR) is currently 36.07%.

Institutional Investors Weigh In On Benchmark Electronics

A number of institutional investors have recently modified their holdings of BHE. Vanguard Group Inc. raised its stake in shares of Benchmark Electronics by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 4,685,488 shares of the technology company’s stock worth $129,507,000 after purchasing an additional 58,266 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Benchmark Electronics by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,996,161 shares of the technology company’s stock valued at $82,815,000 after purchasing an additional 21,170 shares in the last quarter. Franklin Resources Inc. grew its holdings in Benchmark Electronics by 1.8% during the fourth quarter. Franklin Resources Inc. now owns 2,351,157 shares of the technology company’s stock valued at $64,986,000 after purchasing an additional 42,570 shares during the period. Invesco Ltd. increased its position in Benchmark Electronics by 17.6% in the third quarter. Invesco Ltd. now owns 1,328,401 shares of the technology company’s stock worth $32,227,000 after buying an additional 199,263 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Benchmark Electronics by 36.9% in the fourth quarter. First Trust Advisors LP now owns 902,475 shares of the technology company’s stock worth $24,944,000 after buying an additional 243,480 shares during the period. 92.29% of the stock is owned by hedge funds and other institutional investors.

Benchmark Electronics Company Profile

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.