Cigna Investments Inc. New Invests $825,000 in Benchmark Electronics, Inc. (NYSE:BHE)
Cigna Investments Inc. New acquired a new position in shares of Benchmark Electronics, Inc. (NYSE:BHE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,535 shares of the technology company’s stock, valued at approximately $825,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its stake in Benchmark Electronics by 36.1% in the first quarter. Envestnet Asset Management Inc. now owns 3,388 shares of the technology company’s stock worth $108,000 after buying an additional 898 shares in the last quarter. Founders Capital Management purchased a new stake in Benchmark Electronics during the first quarter worth about $127,000. Ameritas Investment Partners Inc. purchased a new stake in Benchmark Electronics during the first quarter worth about $129,000. State of Alaska Department of Revenue boosted its stake in Benchmark Electronics by 3.4% in the first quarter. State of Alaska Department of Revenue now owns 5,480 shares of the technology company’s stock worth $174,000 after buying an additional 180 shares in the last quarter. Finally, CIBC Asset Management Inc purchased a new stake in Benchmark Electronics during the second quarter worth about $203,000. Institutional investors and hedge funds own 97.32% of the company’s stock.
Shares of Benchmark Electronics, Inc. (NYSE:BHE) opened at 31.95 on Friday. Benchmark Electronics, Inc. has a 52 week low of $23.22 and a 52 week high of $35.25. The company has a 50-day moving average price of $33.16 and a 200 day moving average price of $32.19. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 23.49 and a beta of 0.51.
Benchmark Electronics (NYSE:BHE) last posted its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.04. Benchmark Electronics had a return on equity of 5.59% and a net margin of 2.84%. The firm had revenue of $616.90 million for the quarter, compared to analyst estimates of $577 million. During the same quarter last year, the company earned $0.31 EPS. The company’s revenue was up 6.5% on a year-over-year basis. Analysts expect that Benchmark Electronics, Inc. will post $1.49 EPS for the current fiscal year.
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A number of research firms have recently issued reports on BHE. Needham & Company LLC boosted their price objective on Benchmark Electronics from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, July 18th. BidaskClub cut Benchmark Electronics from a “hold” rating to a “sell” rating in a research report on Tuesday. Royal Bank Of Canada boosted their price target on Benchmark Electronics from $33.00 to $37.00 and gave the company a “sector perform” rating in a research note on Thursday, July 20th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $36.00 price target (up previously from $32.00) on shares of Benchmark Electronics in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $33.25.
In other Benchmark Electronics 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 transaction, the chief financial officer now owns 112,856 shares in the company, valued at approximately $3,791,961.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.90% of the stock is owned by company insiders.
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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