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

Benchmark Electronics, Inc. (NYSE:BHE)’s stock price reached a new 52-week high 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.

Wall Street Analyst Weigh In

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

Benchmark Electronics Stock Up 10.8 %

The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 27.05 and a beta of 0.97. The firm’s fifty day moving average is $43.29 and its two-hundred day moving average is $41.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.36 and a quick ratio of 1.45.

Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.57 earnings per share 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 the consensus estimate of $650.00 million. During the same period in the prior year, the company earned $0.57 EPS. Benchmark Electronics’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. Shareholders of record on Monday, September 30th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from Benchmark Electronics’s previous quarterly dividend of $0.17. This represents a $0.68 dividend on an annualized basis and a yield of 1.32%. Benchmark Electronics’s dividend payout ratio is currently 39.53%.

Insider Activity

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $42.70, for a total value of $302,017.10. Following the transaction, the director now owns 42,027 shares in the company, valued at $1,794,552.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Benchmark Electronics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Miller Howard Investments Inc. NY boosted its position in shares of Benchmark Electronics by 1.8% in the second quarter. Miller Howard Investments Inc. NY now owns 15,244 shares of the technology company’s stock valued at $602,000 after acquiring an additional 263 shares during the period. UMB Bank n.a. boosted its position 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 valued at $27,000 after acquiring an additional 272 shares during the period. Versor Investments LP boosted its position in shares of Benchmark Electronics by 2.2% in the third quarter. Versor Investments LP now owns 14,115 shares of the technology company’s stock valued at $626,000 after acquiring an additional 300 shares during the period. Inspire Investing LLC boosted its position in shares of Benchmark Electronics by 4.0% in the third quarter. Inspire Investing LLC now owns 9,346 shares of the technology company’s stock valued at $414,000 after acquiring an additional 362 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in shares of Benchmark Electronics by 2.3% in the second quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the technology company’s stock valued at $714,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 92.29% of the company’s stock.

Benchmark Electronics Company Profile

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.