Benchmark Electronics (NYSE:BHE) Reaches New 52-Week High – Still a Buy?

Benchmark Electronics, Inc. (NYSE:BHE) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $50.67 and last traded at $50.67, with a volume of 3718 shares trading hands. The stock had previously closed at $46.53.

Analyst Upgrades and Downgrades

BHE has been the subject of a number of research reports. StockNews.com downgraded shares of Benchmark Electronics from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Lake Street Capital raised their price objective on Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Needham & Company LLC boosted their price objective on shares of Benchmark Electronics from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $42.33.

Benchmark Electronics Price Performance

The stock’s fifty day moving average is $43.65 and its 200-day moving average is $41.37. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.36 and a quick ratio of 1.45. The stock has a market capitalization of $1.87 billion, a P/E ratio of 29.90 and a beta of 0.97.

Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%. The company had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $650.00 million. During the same quarter in the prior year, the company posted $0.57 EPS. The business’s revenue was down 8.6% on a year-over-year basis.

Benchmark Electronics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.31%. This is a positive change from Benchmark Electronics’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, September 30th. Benchmark Electronics’s dividend payout ratio (DPR) is presently 39.53%.

Insider Buying and Selling

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $42.70, for a total transaction of $302,017.10. Following the completion of the transaction, the director now directly owns 42,027 shares of the company’s stock, valued at $1,794,552.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Benchmark Electronics news, CEO Jeff Benck sold 24,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $45.90, for a total transaction of $1,101,600.00. Following the sale, the chief executive officer now directly owns 424,173 shares of the company’s stock, valued at $19,469,540.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey Stephen Mccreary sold 7,073 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.70, for a total value of $302,017.10. Following the completion of the transaction, the director now directly owns 42,027 shares in the company, valued at $1,794,552.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

Institutional Trading of Benchmark Electronics

Several institutional investors and hedge funds have recently made changes to their positions in BHE. UMB Bank n.a. lifted its holdings in shares of Benchmark Electronics by 65.7% in the second quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock worth $27,000 after buying an additional 272 shares in the last quarter. Quest Partners LLC bought a new position in shares of Benchmark Electronics in the second quarter worth approximately $41,000. CWM LLC lifted its stake in Benchmark Electronics by 81.9% in the second quarter. CWM LLC now owns 1,106 shares of the technology company’s stock worth $44,000 after acquiring an additional 498 shares during the period. Quarry LP lifted its stake in Benchmark Electronics by 172.5% in the second quarter. Quarry LP now owns 1,379 shares of the technology company’s stock worth $54,000 after acquiring an additional 873 shares during the period. Finally, Innealta Capital LLC purchased a new position in Benchmark Electronics during the second quarter valued at $61,000. Hedge funds and other institutional investors 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.