Allspring Global Investments Holdings LLC Cuts Stake in Benchmark Electronics, Inc. (NYSE:BHE)

Allspring Global Investments Holdings LLC trimmed its holdings in Benchmark Electronics, Inc. (NYSE:BHE) by 80.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,143 shares of the technology company’s stock after selling 12,974 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Benchmark Electronics were worth $87,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Boston Partners boosted its position in shares of Benchmark Electronics by 42.6% during the third quarter. Boston Partners now owns 149,208 shares of the technology company’s stock worth $3,620,000 after acquiring an additional 44,579 shares during the last quarter. First Eagle Investment Management LLC grew its position in shares of Benchmark Electronics by 119.4% during the third quarter. First Eagle Investment Management LLC now owns 249,809 shares of the technology company’s stock valued at $6,060,000 after purchasing an additional 135,932 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Benchmark Electronics by 4.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,810 shares of the technology company’s stock worth $384,000 after purchasing an additional 739 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Benchmark Electronics by 1.3% in the third quarter. Deutsche Bank AG now owns 142,132 shares of the technology company’s stock worth $3,448,000 after buying an additional 1,779 shares in the last quarter. Finally, Trust Point Inc. bought a new position in Benchmark Electronics during the fourth quarter valued at approximately $445,000. 92.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on BHE. Sidoti downgraded Benchmark Electronics from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a research note on Monday. Needham & Company LLC upped their price target on shares of Benchmark Electronics from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, StockNews.com lowered shares of Benchmark Electronics from a “buy” rating to a “hold” rating in a research report on Friday, February 9th.

Benchmark Electronics Price Performance

NYSE:BHE opened at $31.49 on Tuesday. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 17.49 and a beta of 1.02. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 1.33. The business has a 50 day simple moving average of $29.99 and a 200-day simple moving average of $27.65. Benchmark Electronics, Inc. has a 1 year low of $20.58 and a 1 year high of $31.75.

Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Benchmark Electronics had a return on equity of 6.95% and a net margin of 2.27%. The company had revenue of $691.35 million during the quarter.

Benchmark Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Wednesday, March 27th. Benchmark Electronics’s dividend payout ratio (DPR) is currently 36.67%.

Benchmark Electronics Company Profile

Benchmark Electronics, Inc, together with its subsidiaries, offers product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company provides engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing and technology solutions, as well as automation equipment design and build services.