Credit Suisse AG Sells 17,103 Shares of Benchmark Electronics, Inc. (BHE)
Credit Suisse AG cut its position in Benchmark Electronics, Inc. (NYSE:BHE) by 21.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 63,050 shares of the technology company’s stock after selling 17,103 shares during the period. Credit Suisse AG’s holdings in Benchmark Electronics were worth $2,005,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Sensato Investors LLC boosted its stake in shares of Benchmark Electronics by 717.1% in the first quarter. Sensato Investors LLC now owns 179,767 shares of the technology company’s stock worth $5,717,000 after buying an additional 157,767 shares during the period. AQR Capital Management LLC boosted its stake in shares of Benchmark Electronics by 5.5% in the first quarter. AQR Capital Management LLC now owns 431,867 shares of the technology company’s stock worth $13,734,000 after buying an additional 22,626 shares during the period. Gotham Asset Management LLC boosted its stake in shares of Benchmark Electronics by 0.7% in the first quarter. Gotham Asset Management LLC now owns 328,496 shares of the technology company’s stock worth $10,446,000 after buying an additional 2,347 shares during the period. Highbridge Capital Management LLC acquired a new stake in shares of Benchmark Electronics during the first quarter worth $763,000. Finally, State Street Corp boosted its stake in shares of Benchmark Electronics by 0.8% in the first quarter. State Street Corp now owns 1,345,668 shares of the technology company’s stock worth $42,792,000 after buying an additional 11,303 shares during the period. Institutional investors and hedge funds own 97.32% of the company’s stock.
Benchmark Electronics, Inc. (NYSE BHE) traded down 0.46% during midday trading on Thursday, hitting $32.35. 20,611 shares of the stock were exchanged. Benchmark Electronics, Inc. has a 12 month low of $23.22 and a 12 month high of $35.25. The firm’s 50 day moving average price is $33.20 and its 200 day moving average price is $32.18. The company has a market cap of $1.61 billion, a PE ratio of 23.79 and a beta of 0.51.
Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Benchmark Electronics had a net margin of 2.84% and a return on equity of 5.59%. The firm had revenue of $616.90 million for the quarter, compared to the consensus estimate of $577 million. During the same quarter in the previous year, the firm earned $0.31 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts forecast that Benchmark Electronics, Inc. will post $1.49 earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on the stock. BidaskClub cut shares of Benchmark Electronics from a “hold” rating to a “sell” rating in a report on Tuesday. Citigroup Inc. reiterated a “neutral” rating and set a $36.00 price target (up previously from $32.00) on shares of Benchmark Electronics in a report on Friday, July 21st. Royal Bank Of Canada increased their price target on shares of Benchmark Electronics from $33.00 to $37.00 and gave the company a “sector perform” rating in a report on Thursday, July 20th. Finally, Needham & Company LLC increased their price target on shares of Benchmark Electronics from $34.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $33.25.
In other news, CFO Donald Francis Adam sold 61,572 shares of Benchmark Electronics stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $33.60, for a total value of $2,068,819.20. Following the transaction, the chief financial officer now owns 112,856 shares of the company’s stock, valued at approximately $3,791,961.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by 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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