Benchmark Electronics (NYSE:BHE) Share Price Breaks Above 200 Day Moving Average – What’s Next?

Benchmark Electronics, Inc. (NYSE:BHE)’s share price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $72.03 and traded as high as $73.60. Benchmark Electronics shares last traded at $73.28, with a volume of 452,988 shares.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BHE shares. Weiss Ratings lowered Benchmark Electronics from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 23rd. Needham & Company LLC assumed coverage on Benchmark Electronics in a report on Friday, October 23rd. They set a “buy” rating and a $85.00 price target for the company. Finally, Zacks Research upgraded shares of Benchmark Electronics to a “hold” rating in a report on Monday, October 5th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Benchmark Electronics currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.50.

Benchmark Electronics Trading Down 5.4%

The company has a market capitalization of $2.45 billion, a P/E ratio of 30.77, a price-to-earnings-growth ratio of 1.37 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.87 and a quick ratio of 1.31. The firm has a fifty day moving average price of $75.55 and a 200-day moving average price of $72.28.

Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings results on Wednesday, October 28th. The technology company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.05. The business had revenue of $810.90 million for the quarter, compared to analyst estimates of $776.65 million. Benchmark Electronics had a return on equity of 7.71% and a net margin of 1.90%. Benchmark Electronics’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period last year, the company posted $0.62 earnings per share. On average, equities research analysts anticipate that Benchmark Electronics, Inc. will post 2.40 earnings per share for the current year.

Benchmark Electronics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 13th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.17 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. Benchmark Electronics’s dividend payout ratio (DPR) is presently 46.26%.

Hedge Funds Weigh In On Benchmark Electronics

Several institutional investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. boosted its holdings in shares of Benchmark Electronics by 69.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 609 shares of the technology company’s stock worth $26,000 after acquiring an additional 250 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Benchmark Electronics during the 2nd quarter valued at $64,000. Group One Trading LLC bought a new stake in shares of Benchmark Electronics during the 2nd quarter valued at $73,000. Sterling Capital Management LLC lifted its holdings in Benchmark Electronics by 107.6% during the 3rd quarter. Sterling Capital Management LLC now owns 930 shares of the technology company’s stock worth $77,000 after purchasing an additional 482 shares in the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in Benchmark Electronics during the 2nd quarter worth about $112,000. Hedge funds and other institutional investors own 92.29% of the company’s stock.

Benchmark Electronics Company Profile

Benchmark Electronics, Inc is a provider of integrated electronics manufacturing and engineering services. The company helps original equipment manufacturers design, develop, test, manufacture and support complex electronic products and systems.

Its services include product design and engineering, prototyping, printed circuit board assembly, systems integration, precision machining, testing, supply chain management, and aftermarket support. Benchmark serves customers in industries such as aerospace and defense, medical technology, industrial equipment, semiconductor capital equipment, and advanced computing.

Headquartered in Tempe, Arizona, Benchmark operates manufacturing and engineering facilities across North America, Europe and Asia.