Benchmark Electronics, Inc. (BHE) Stake Decreased by Heartland Advisors Inc.
Heartland Advisors Inc. lowered its position in Benchmark Electronics, Inc. (NYSE:BHE) by 15.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 301,426 shares of the technology company’s stock after selling 55,502 shares during the period. Heartland Advisors Inc. owned 0.61% of Benchmark Electronics worth $9,736,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Eagle Boston Investment Management Inc. increased its stake in shares of Benchmark Electronics by 5.6% in the first quarter. Eagle Boston Investment Management Inc. now owns 215,993 shares of the technology company’s stock worth $6,868,000 after buying an additional 11,425 shares during the last quarter. Texas Permanent School Fund increased its stake in shares of Benchmark Electronics by 0.8% in the first quarter. Texas Permanent School Fund now owns 35,931 shares of the technology company’s stock worth $1,143,000 after buying an additional 281 shares during the last quarter. Sei Investments Co. increased its stake in shares of Benchmark Electronics by 187.9% in the first quarter. Sei Investments Co. now owns 22,562 shares of the technology company’s stock worth $717,000 after buying an additional 14,725 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of Benchmark Electronics during the first quarter worth about $700,000. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Benchmark Electronics by 12.0% in the first quarter. UBS Asset Management Americas Inc. now owns 31,910 shares of the technology company’s stock worth $1,015,000 after buying an additional 3,429 shares during the last quarter. 95.00% of the stock is owned by hedge funds and other institutional investors.
Benchmark Electronics, Inc. (NYSE BHE) opened at 32.50 on Friday. The company’s 50-day moving average price is $32.77 and its 200-day moving average price is $32.29. Benchmark Electronics, Inc. has a one year low of $23.22 and a one year high of $35.25. The stock has a market capitalization of $1.62 billion, a PE ratio of 23.90 and a beta of 0.51.
Benchmark Electronics (NYSE:BHE) last released its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. The business had revenue of $616.90 million during the quarter, compared to analyst estimates of $577 million. Benchmark Electronics had a return on equity of 5.59% and a net margin of 2.84%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $0.31 EPS. Equities research analysts predict that Benchmark Electronics, Inc. will post $1.49 EPS for the current year.
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A number of brokerages recently issued reports on BHE. Royal Bank Of Canada raised their price objective on Benchmark Electronics from $33.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 20th. Needham & Company LLC raised their price objective on Benchmark Electronics from $34.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Citigroup Inc. reissued a “neutral” rating and set a $36.00 price objective (up from $32.00) on shares of Benchmark Electronics in a research report on Friday, July 21st. Finally, BidaskClub cut Benchmark Electronics from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $33.25.
In other news, CFO Donald Francis Adam sold 61,572 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 112,856 shares of the company’s stock, valued at approximately $3,791,961.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Douglas G. Duncan sold 5,922 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $31.91, for a total value of $188,971.02. Following the sale, the director now directly owns 30,524 shares of the company’s stock, valued at $974,020.84. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.
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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