Maverick Capital Ltd. Makes New $703,000 Investment in Benchmark Electronics, Inc. $BHE

Maverick Capital Ltd. bought a new stake in Benchmark Electronics, Inc. (NYSE:BHE) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,535 shares of the technology company’s stock, valued at approximately $703,000.

Several other large investors have also recently made changes to their positions in BHE. ProShare Advisors LLC lifted its holdings in Benchmark Electronics by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 6,952 shares of the technology company’s stock valued at $297,000 after purchasing an additional 214 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Benchmark Electronics by 4.6% in the first quarter. Pictet Asset Management Holding SA now owns 5,097 shares of the technology company’s stock valued at $286,000 after buying an additional 226 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Benchmark Electronics by 3.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 7,158 shares of the technology company’s stock worth $306,000 after buying an additional 228 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake 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 buying an additional 250 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in Benchmark Electronics by 28.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,446 shares of the technology company’s stock worth $62,000 after acquiring an additional 322 shares during the last quarter. 92.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BHE shares. Lake Street Capital reaffirmed a “buy” rating and set a $92.00 price objective on shares of Benchmark Electronics in a research note on Thursday, April 30th. Weiss Ratings restated a “hold (c)” rating on shares of Benchmark Electronics in a research report on Friday, July 17th. Finally, Needham & Company LLC increased their price target on Benchmark Electronics from $62.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

Insider Transactions at Benchmark Electronics

In other Benchmark Electronics news, CEO David Moezidis sold 12,500 shares of Benchmark Electronics stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $87.57, for a total value of $1,094,625.00. Following the sale, the chief executive officer owned 85,564 shares in the company, valued at $7,492,839.48. The trade was a 12.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth T. Lamneck sold 24,263 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $81.49, for a total value of $1,977,191.87. Following the completion of the transaction, the director directly owned 47,418 shares in the company, valued at approximately $3,864,092.82. This trade represents a 33.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 86,352 shares of company stock valued at $7,312,806 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Benchmark Electronics Price Performance

Shares of BHE stock opened at $76.81 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.18 and a quick ratio of 1.42. The firm’s 50-day moving average is $86.43 and its two-hundred day moving average is $69.58. Benchmark Electronics, Inc. has a 12 month low of $34.44 and a 12 month high of $100.41. The company has a market capitalization of $2.76 billion, a PE ratio of 80.86 and a beta of 1.24.

Benchmark Electronics (NYSE:BHE) last posted its earnings results on Wednesday, April 29th. The technology company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.02. Benchmark Electronics had a net margin of 1.27% and a return on equity of 6.63%. The company had revenue of $677.28 million for the quarter, compared to analyst estimates of $676.25 million. During the same period in the previous year, the business posted $0.52 EPS. Benchmark Electronics’s revenue was up 7.1% on a year-over-year basis.

Benchmark Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Benchmark Electronics’s payout ratio is presently 71.58%.

Benchmark Electronics Profile

Benchmark Electronics, Inc is a global provider of comprehensive electronics manufacturing services (EMS) and integrated engineering solutions. The company offers a full suite of services that span the entire product lifecycle, from early‐stage design and prototyping to high‐volume production and aftermarket support. Benchmark serves diverse end markets, including industrial automation, medical devices, communications, aerospace and defense, and semiconductor equipment.

At the core of Benchmark’s offering are printed circuit board assemblies (PCBA), system integration, box build assemblies and turnkey manufacturing.