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

Benchmark Electronics (NYSE:BHE) had its price objective decreased by Lake Street Capital from $52.00 to $46.00 in a research note published on Wednesday,Benzinga reports. Lake Street Capital currently has a buy rating on the technology company’s stock.

A number of other equities analysts have also weighed in on BHE. Needham & Company LLC reduced their target price on shares of Benchmark Electronics from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday. StockNews.com raised Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th.

Benchmark Electronics Stock Up 3.8 %

Shares of Benchmark Electronics stock opened at $34.95 on Wednesday. The company has a market capitalization of $1.26 billion, a P/E ratio of 20.20 and a beta of 0.83. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.32 and a quick ratio of 1.46. The business has a 50-day moving average of $37.41 and a two-hundred day moving average of $42.92. Benchmark Electronics has a 1 year low of $30.73 and a 1 year high of $52.57.

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

Benchmark Electronics Announces Dividend

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

Insider Activity at Benchmark Electronics

In related news, CEO Jeff Benck sold 6,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $38.82, for a total value of $232,920.00. Following the completion of the transaction, the chief executive officer now directly owns 448,180 shares of the company’s stock, valued at approximately $17,398,347.60. This trade represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is owned by company insiders.

Institutional Trading of Benchmark Electronics

A number of large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Benchmark Electronics by 12.9% in the 4th quarter. GAMMA Investing LLC now owns 2,547 shares of the technology company’s stock valued at $116,000 after purchasing an additional 292 shares during the period. Heritage Family Offices LLP raised its stake in Benchmark Electronics by 5.7% in the fourth quarter. Heritage Family Offices LLP now owns 6,162 shares of the technology company’s stock valued at $280,000 after buying an additional 334 shares during the period. Highland Capital Management LLC lifted its position in shares of Benchmark Electronics by 6.4% in the fourth quarter. Highland Capital Management LLC now owns 5,620 shares of the technology company’s stock valued at $255,000 after buying an additional 337 shares during the last quarter. Mariner LLC boosted its stake in shares of Benchmark Electronics by 2.4% during the 4th quarter. Mariner LLC now owns 14,846 shares of the technology company’s stock worth $676,000 after acquiring an additional 353 shares during the period. Finally, Martingale Asset Management L P increased its holdings in shares of Benchmark Electronics by 0.5% during the 4th quarter. Martingale Asset Management L P now owns 73,047 shares of the technology company’s stock worth $3,316,000 after acquiring an additional 356 shares during the last quarter. Institutional investors and hedge funds own 92.29% of the company’s stock.

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.