According to Zacks, “Benchmark Electronics, Inc. provides contract electronics manufacturing and design services to original equipment manufacturers in select industries, including medical devices, communications equipment, industrial and business computers, testing instrumentation and industrial controls. They specializes in manufacturing high quality, technologically complex printed circuit board assemblies with computer-automated equipment using surface mount and pin-through-hole interconnection technologies for customers requiring low to medium volume production runs. “
Several other equities analysts have also recently commented on the stock. Needham & Company LLC lifted their target price on shares of Benchmark Electronics from $23.00 to $26.00 and gave the stock a buy rating in a research report on Friday, July 22nd. TheStreet raised shares of Benchmark Electronics from a hold rating to a buy rating in a research report on Monday, July 25th. Finally, B. Riley reissued a neutral rating and set a $23.00 target price on shares of Benchmark Electronics in a research report on Monday, July 25th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $24.00.
Shares of Benchmark Electronics (NYSE:BHE) opened at 24.81 on Wednesday. Benchmark Electronics has a 12-month low of $18.36 and a 12-month high of $25.08. The company’s 50-day moving average price is $24.27 and its 200 day moving average price is $22.21. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 15.07 and a beta of 0.71.
Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Benchmark Electronics had a net margin of 3.51% and a return on equity of 5.52%. The business earned $579 million during the quarter, compared to the consensus estimate of $582.89 million. During the same period in the previous year, the business posted $0.42 EPS. Benchmark Electronics’s revenue was down 12.8% compared to the same quarter last year. Equities analysts predict that Benchmark Electronics will post $1.34 earnings per share for the current year.
In other news, CFO Donald Francis Adam sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $23.46, for a total transaction of $938,400.00. Following the completion of the sale, the chief financial officer now owns 126,513 shares in the company, valued at approximately $2,967,994.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gayla J. Delly sold 25,497 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $24.22, for a total transaction of $617,537.34. Following the sale, the chief executive officer now owns 276,264 shares of the company’s stock, valued at approximately $6,691,114.08. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
Large investors have recently modified their holdings of the company. Capital Research Global Investors bought a new stake in shares of Benchmark Electronics during the second quarter valued at about $13,145,000. Norges Bank bought a new stake in shares of Benchmark Electronics during the fourth quarter valued at about $12,560,000. Emerald Acquisition Ltd. bought a new stake in shares of Benchmark Electronics during the second quarter valued at about $9,622,000. JPMorgan Chase & Co. raised its stake in shares of Benchmark Electronics by 20.5% in the second quarter. JPMorgan Chase & Co. now owns 2,026,524 shares of the company’s stock valued at $42,861,000 after buying an additional 344,807 shares during the last quarter. Finally, Hillcrest Asset Management LLC bought a new stake in shares of Benchmark Electronics during the first quarter valued at about $7,357,000. Institutional investors own 96.18% of the company’s stock.
About Benchmark Electronics
Benchmark Electronics, Inc is a provider of integrated electronic manufacturing services. The Company 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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