Lake Street Capital Boosts Benchmark Electronics (NYSE:BHE) Price Target to $46.00

Benchmark Electronics (NYSE:BHE) had its target price lifted by Lake Street Capital from $35.00 to $46.00 in a research note published on Wednesday morning, Benzinga reports. Lake Street Capital currently has a buy rating on the technology company’s stock.

BHE has been the topic of a number of other research reports. Fox Advisors lowered shares of Benchmark Electronics from an overweight rating to an equal weight rating in a research report on Wednesday, May 15th. StockNews.com lowered shares of Benchmark Electronics from a buy rating to a hold rating in a research report on Friday, July 19th. Sidoti lowered shares of Benchmark Electronics from a buy rating to a neutral rating and set a $33.00 price target on the stock. in a research report on Monday, April 29th. Finally, Needham & Company LLC lifted their price target on shares of Benchmark Electronics from $40.00 to $45.00 and gave the company a buy rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $41.33.

Benchmark Electronics Price Performance

Shares of BHE opened at $41.48 on Wednesday. The firm has a market cap of $1.50 billion, a PE ratio of 22.67 and a beta of 0.99. The firm’s 50 day moving average price is $41.03 and its 200 day moving average price is $34.82. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.41 and a current ratio of 2.35. Benchmark Electronics has a twelve month low of $22.66 and a twelve month high of $48.58.

Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.06. The firm had revenue of $666.00 million for the quarter, compared to analyst estimates of $635.75 million. Benchmark Electronics had a net margin of 2.45% and a return on equity of 7.17%. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 earnings per share.

Benchmark Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were paid a $0.165 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.66 annualized dividend and a dividend yield of 1.59%. Benchmark Electronics’s payout ratio is 36.07%.

Insider Transactions at Benchmark Electronics

In other news, CFO Arvind Kamal sold 783 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $38.38, for a total value of $30,051.54. Following the sale, the chief financial officer now owns 20,735 shares in the company, valued at $795,809.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Jan M. Janick sold 6,777 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $38.87, for a total value of $263,421.99. Following the sale, the senior vice president now owns 67,774 shares in the company, valued at $2,634,375.38. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Arvind Kamal sold 783 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $38.38, for a total transaction of $30,051.54. Following the completion of the sale, the chief financial officer now owns 20,735 shares in the company, valued at approximately $795,809.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,560 shares of company stock worth $688,374. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Benchmark Electronics

A number of institutional investors have recently bought and sold shares of BHE. Trust Point Inc. acquired a new stake in Benchmark Electronics during the fourth quarter worth $445,000. Camelot Portfolios LLC acquired a new stake in Benchmark Electronics during the fourth quarter worth $242,000. Nisa Investment Advisors LLC boosted its stake in Benchmark Electronics by 1.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 28,848 shares of the technology company’s stock worth $797,000 after buying an additional 500 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in Benchmark Electronics during the fourth quarter worth $495,000. Finally, Everence Capital Management Inc. acquired a new stake in Benchmark Electronics during the fourth quarter worth $223,000. Institutional investors and hedge funds own 92.29% of the company’s stock.

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.