Benchmark Electronics Inc. (NYSE:BHE) issued an update on its third quarter earnings guidance on Friday morning. The company provided earnings per share guidance of $0.33-0.38 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.36. The company issued revenue guidance of $570-600, compared to the consensus revenue estimate of $584.72 million.

Benchmark Electronics Inc. (NYSE:BHE) opened at 24.36 on Tuesday. The stock has a market cap of $1.19 billion, a PE ratio of 14.80 and a beta of 0.71. Benchmark Electronics Inc. has a 12-month low of $18.36 and a 12-month high of $24.60. The firm has a 50-day moving average price of $24.10 and a 200-day moving average price of $22.12.

Benchmark Electronics (NYSE:BHE) last posted its earnings results on Thursday, July 21st. The company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The company had revenue of $579 million for the quarter, compared to the consensus estimate of $582.89 million. Benchmark Electronics had a return on equity of 5.52% and a net margin of 3.51%. Benchmark Electronics’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 EPS. Analysts forecast that Benchmark Electronics Inc. will post $1.34 EPS for the current fiscal year.

BHE has been the subject of several analyst reports. Zacks Investment Research upgraded Benchmark Electronics from a sell rating to a hold rating in a research report on Wednesday, June 22nd. Needham & Company LLC raised their target price on Benchmark Electronics from $23.00 to $26.00 and gave the stock a buy rating in a research report on Friday, July 22nd. B. Riley restated a neutral rating and set a $23.00 target price on shares of Benchmark Electronics in a research report on Monday, July 25th. Finally, TheStreet upgraded Benchmark Electronics from a hold rating to a buy rating in a research report on Monday, July 25th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Benchmark Electronics presently has an average rating of Buy and an average target price of $24.00.

In other news, CEO Gayla J. Delly sold 25,497 shares of Benchmark Electronics stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $24.22, for a total value of $617,537.34. Following the completion of the sale, the chief executive officer now directly owns 276,264 shares of the company’s stock, valued at approximately $6,691,114.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon J. King sold 12,774 shares of Benchmark Electronics stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $23.57, for a total value of $301,083.18. Following the completion of the sale, the insider now directly owns 40,624 shares of the company’s stock, valued at $957,507.68. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. KCG Holdings Inc. boosted its stake in Benchmark Electronics by 14.5% in the second quarter. KCG Holdings Inc. now owns 11,741 shares of the company’s stock valued at $248,000 after buying an additional 1,487 shares during the period. Clinton Group Inc. purchased a new stake in Benchmark Electronics during the second quarter valued at approximately $907,000. Mackenzie Financial Corp purchased a new stake in Benchmark Electronics during the second quarter valued at approximately $285,000. Hsbc Holdings PLC boosted its stake in Benchmark Electronics by 0.8% in the second quarter. Hsbc Holdings PLC now owns 10,892 shares of the company’s stock valued at $230,000 after buying an additional 91 shares during the period. Finally, Profund Advisors LLC boosted its stake in Benchmark Electronics by 2.3% in the second quarter. Profund Advisors LLC now owns 15,992 shares of the company’s stock valued at $338,000 after buying an additional 358 shares during the period. 96.90% of the stock is owned by institutional investors.

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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