Legal & General Group Plc cut its stake in Benchmark Electronics, Inc. (NYSE:BHE) by 5.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,027 shares of the technology company’s stock after selling 6,913 shares during the quarter. Legal & General Group Plc owned about 0.27% of Benchmark Electronics worth $4,266,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Benchmark Electronics by 43,795.9% in the first quarter. BlackRock Inc. now owns 6,102,845 shares of the technology company’s stock valued at $194,070,000 after purchasing an additional 6,088,942 shares during the period. Morgan Stanley raised its position in Benchmark Electronics by 111.8% in the first quarter. Morgan Stanley now owns 375,217 shares of the technology company’s stock valued at $11,932,000 after purchasing an additional 198,078 shares during the period. Geode Capital Management LLC raised its position in Benchmark Electronics by 5.1% in the first quarter. Geode Capital Management LLC now owns 642,740 shares of the technology company’s stock valued at $20,439,000 after purchasing an additional 31,227 shares during the period. State Street Corp raised its position in Benchmark Electronics by 0.8% in the first quarter. State Street Corp now owns 1,345,668 shares of the technology company’s stock valued at $42,792,000 after purchasing an additional 11,303 shares during the period. Finally, Founders Capital Management purchased a new position in Benchmark Electronics in the first quarter valued at about $127,000. 95.00% of the stock is currently owned by institutional investors.
In other Benchmark Electronics news, VP Scott R. Peterson sold 1,000 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $32.06, for a total transaction of $32,060.00. Following the completion of the transaction, the vice president now owns 18,893 shares of the company’s stock, valued at approximately $605,709.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Donald Francis Adam sold 61,572 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was 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 of the company’s stock, valued at approximately $3,791,961.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,494 shares of company stock valued at $2,289,850. Company insiders own 0.90% of the company’s stock.
Several research analysts have commented on the company. BidaskClub lowered Benchmark Electronics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Citigroup Inc. reissued a “neutral” rating and issued a $36.00 price objective (up from $32.00) on shares of Benchmark Electronics in a research report on Friday, July 21st. Royal Bank Of Canada raised their price objective on Benchmark Electronics from $33.00 to $37.00 and gave the company a “sector perform” rating in a research report on Thursday, July 20th. Finally, Needham & Company LLC raised their price objective on Benchmark Electronics from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $33.25.
Shares of Benchmark Electronics, Inc. (NYSE:BHE) opened at 32.60 on Wednesday. Benchmark Electronics, Inc. has a 52 week low of $23.68 and a 52 week high of $35.25. The stock’s 50 day moving average price is $32.48 and its 200 day moving average price is $32.28. The firm has a market capitalization of $1.63 billion, a P/E ratio of 23.97 and a beta of 0.52.
Benchmark Electronics (NYSE:BHE) last released its earnings results on Wednesday, July 19th. The technology company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.04. The firm had revenue of $616.90 million during the quarter, compared to analyst estimates of $577.00 million. Benchmark Electronics had a net margin of 2.84% and a return on equity of 5.59%. The business’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 EPS. On average, analysts predict that Benchmark Electronics, Inc. will post $1.49 EPS for the current fiscal year.
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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