Shell Asset Management Co. maintained its stake in Benchmark Electronics, Inc. (NYSE:BHE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,886 shares of the technology company’s stock at the end of the second quarter. Shell Asset Management Co. owned approximately 0.14% of Benchmark Electronics worth $2,225,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new stake in Benchmark Electronics during the fourth quarter worth approximately $215,000. Two Sigma Investments LP purchased a new stake in Benchmark Electronics during the fourth quarter worth approximately $285,000. Norges Bank bought a new position in shares of Benchmark Electronics during the fourth quarter worth $22,908,000. Teachers Advisors LLC raised its position in shares of Benchmark Electronics by 45.3% in the fourth quarter. Teachers Advisors LLC now owns 117,825 shares of the technology company’s stock worth $3,594,000 after buying an additional 36,714 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of Benchmark Electronics by 3.1% in the first quarter. Louisiana State Employees Retirement System now owns 20,200 shares of the technology company’s stock worth $642,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 97.32% of the company’s stock.
Benchmark Electronics, Inc. (NYSE:BHE) traded down 0.93% during trading on Friday, hitting $31.95. 264,032 shares of the stock were exchanged. Benchmark Electronics, Inc. has a 52 week low of $23.22 and a 52 week high of $35.25. The firm has a market cap of $1.60 billion, a PE ratio of 23.49 and a beta of 0.51. The firm’s 50-day moving average is $33.16 and its 200 day moving average is $32.19.
Benchmark Electronics (NYSE:BHE) last released its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. Benchmark Electronics had a net margin of 2.84% and a return on equity of 5.59%. The business had revenue of $616.90 million for the quarter, compared to analysts’ expectations of $577 million. During the same period in the previous year, the company earned $0.31 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Analysts expect that Benchmark Electronics, Inc. will post $1.49 earnings per share for the current fiscal year.
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A number of equities analysts recently weighed in on BHE shares. Citigroup Inc. reaffirmed a “neutral” rating and issued a $36.00 target price (up from $32.00) on shares of Benchmark Electronics in a research note on Friday, July 21st. BidaskClub lowered shares of Benchmark Electronics from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. Royal Bank Of Canada upped their target price on shares of Benchmark Electronics from $33.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 20th. Finally, Needham & Company LLC upped their target price on shares of Benchmark Electronics from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $33.25.
In related news, CFO Donald Francis Adam sold 61,572 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $33.60, for a total transaction of $2,068,819.20. Following the transaction, the chief financial officer now directly owns 112,856 shares in the company, valued at $3,791,961.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.90% of the stock is currently owned by insiders.
About Benchmark Electronics
Benchmark Electronics, Inc is a provider of electronic manufacturing services. The Company operates through three segments: the Americas, Asia and Europe. It provides services to original equipment manufacturers of industrial control equipment, including equipment for the aerospace and defense industry; telecommunication equipment; computers and related products for business enterprises; medical devices, and testing and instrumentation products.
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