Royce & Associates LP Sells 195,052 Shares of Benchmark Electronics, Inc. (BHE)
Royce & Associates LP reduced its position in Benchmark Electronics, Inc. (NYSE:BHE) by 19.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 787,742 shares of the technology company’s stock after selling 195,052 shares during the period. Royce & Associates LP owned 1.58% of Benchmark Electronics worth $25,444,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in BHE. BlackRock Inc. increased its stake in Benchmark Electronics by 43,795.9% in the first quarter. BlackRock Inc. now owns 6,102,845 shares of the technology company’s stock worth $194,070,000 after buying an additional 6,088,942 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Benchmark Electronics by 5.4% in the first quarter. Vanguard Group Inc. now owns 4,528,732 shares of the technology company’s stock valued at $144,013,000 after buying an additional 233,703 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Benchmark Electronics by 16.7% in the first quarter. JPMorgan Chase & Co. now owns 2,454,209 shares of the technology company’s stock valued at $78,044,000 after buying an additional 351,992 shares during the period. State Street Corp boosted its position 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 valued at $42,792,000 after buying an additional 11,303 shares during the period. Finally, Acadian Asset Management LLC boosted its position in shares of Benchmark Electronics by 8.3% in the second quarter. Acadian Asset Management LLC now owns 1,108,812 shares of the technology company’s stock valued at $35,813,000 after buying an additional 85,119 shares during the period. 95.00% of the stock is owned by institutional investors and hedge funds.
Shares of Benchmark Electronics, Inc. (NYSE BHE) opened at 31.85 on Tuesday. Benchmark Electronics, Inc. has a 1-year low of $23.22 and a 1-year high of $35.25. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 23.42 and a beta of 0.51. The company’s 50-day moving average price is $32.86 and its 200 day moving average price is $32.27.
Benchmark Electronics (NYSE:BHE) last released its earnings results on Wednesday, July 19th. The technology company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The business had revenue of $616.90 million during the quarter, compared to analysts’ expectations of $577 million. Benchmark Electronics had a net margin of 2.84% and a return on equity of 5.59%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.31 earnings per share. On average, analysts predict that Benchmark Electronics, Inc. will post $1.49 earnings per share for the current fiscal year.
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BHE has been the subject of several recent research reports. Citigroup Inc. reiterated a “neutral” rating and issued a $36.00 price target (up from $32.00) on shares of Benchmark Electronics in a research report on Friday, July 21st. BidaskClub cut Benchmark Electronics from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. Royal Bank Of Canada lifted their price objective 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, Needham & Company LLC lifted their price objective on Benchmark Electronics from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Two equities 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 stock. The stock has an average rating of “Hold” and a consensus price target of $33.25.
In related news, CFO Donald Francis Adam sold 61,572 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were 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 owns 112,856 shares of the company’s stock, valued at approximately $3,791,961.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Douglas G. Duncan sold 5,922 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $31.91, for a total transaction of $188,971.02. Following the sale, the director now directly owns 30,524 shares of the company’s stock, valued at approximately $974,020.84. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.
Benchmark Electronics Company Profile
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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