Swiss National Bank Boosts Position in Benchmark Electronics, Inc. (BHE)
Swiss National Bank increased its holdings in Benchmark Electronics, Inc. (NYSE:BHE) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,000 shares of the technology company’s stock after acquiring an additional 2,600 shares during the period. Swiss National Bank owned about 0.17% of Benchmark Electronics worth $2,713,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its holdings in Benchmark Electronics by 36.1% during the first quarter. Envestnet Asset Management Inc. now owns 3,388 shares of the technology company’s stock valued at $108,000 after purchasing an additional 898 shares during the period. Ameritas Investment Partners Inc. bought a new position in Benchmark Electronics during the first quarter valued at $129,000. CIBC Asset Management Inc bought a new position in Benchmark Electronics during the second quarter valued at $203,000. Citadel Advisors LLC bought a new position in Benchmark Electronics during the first quarter valued at $207,000. Finally, Two Sigma Securities LLC bought a new position in Benchmark Electronics during the first quarter valued at $232,000. 94.98% of the stock is owned by institutional investors.
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BHE has been the topic of several recent research reports. Royal Bank Of Canada increased 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. BidaskClub downgraded Benchmark Electronics from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. Citigroup Inc. reiterated a “neutral” rating and issued a $36.00 price objective (up previously from $32.00) on shares of Benchmark Electronics in a research report on Friday, July 21st. Finally, Needham & Company LLC increased 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. 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 stock. The company presently has a consensus rating of “Hold” and an average target price of $33.25.
In other news, VP Scott R. Peterson sold 1,000 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $32.06, for a total transaction of $32,060.00. Following the transaction, the vice president now directly owns 18,893 shares in the company, valued at approximately $605,709.58. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Donald Francis Adam sold 61,572 shares of the stock in a transaction dated 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 $3,791,961.60. The disclosure for this sale can be found here. Insiders have sold a total of 68,494 shares of company stock worth $2,289,850 over the last ninety days. 0.90% of the stock is owned by corporate insiders.
Shares of Benchmark Electronics, Inc. (NYSE BHE) opened at 34.15 on Friday. The company has a 50 day moving average price of $32.33 and a 200 day moving average price of $32.32. The company has a market capitalization of $1.70 billion, a PE ratio of 25.11 and a beta of 0.52. Benchmark Electronics, Inc. has a 1-year low of $24.25 and a 1-year high of $35.25.
Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.04. The firm had revenue of $616.90 million for the quarter, compared to analysts’ expectations of $577.00 million. Benchmark Electronics had a net margin of 2.84% and a return on equity of 5.59%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 EPS. Equities analysts predict that Benchmark Electronics, Inc. will post $1.49 EPS for the current fiscal year.
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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