Point72 Asia Singapore Pte. Ltd. Sells 2,610 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

Point72 Asia Singapore Pte. Ltd. decreased its holdings in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 72.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,005 shares of the technology company’s stock after selling 2,610 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Benchmark Electronics were worth $40,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BHE. UMB Bank n.a. raised its holdings in Benchmark Electronics by 65.7% during the second quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock valued at $27,000 after buying an additional 272 shares in the last quarter. Rise Advisors LLC acquired a new position in shares of Benchmark Electronics during the 1st quarter valued at about $27,000. Quest Partners LLC acquired a new stake in Benchmark Electronics in the 2nd quarter worth approximately $41,000. CWM LLC boosted its position in Benchmark Electronics by 81.9% during the second quarter. CWM LLC now owns 1,106 shares of the technology company’s stock worth $44,000 after purchasing an additional 498 shares during the period. Finally, Parallel Advisors LLC grew its holdings in Benchmark Electronics by 97.9% during the fourth quarter. Parallel Advisors LLC now owns 1,144 shares of the technology company’s stock valued at $32,000 after purchasing an additional 566 shares during the last quarter. Institutional investors own 92.29% of the company’s stock.

Benchmark Electronics Trading Down 1.0 %

BHE stock opened at $44.33 on Tuesday. The company has a current ratio of 2.35, a quick ratio of 1.42 and a debt-to-equity ratio of 0.26. The firm has a market cap of $1.60 billion, a P/E ratio of 24.22 and a beta of 0.98. Benchmark Electronics, Inc. has a 1-year low of $22.66 and a 1-year high of $48.58. The business’s 50 day moving average is $42.12 and its 200-day moving average is $38.47.

Benchmark Electronics (NYSE:BHE) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. Benchmark Electronics had a net margin of 2.45% and a return on equity of 7.17%. The firm had revenue of $666.00 million for the quarter, compared to analyst estimates of $635.75 million. During the same period in the previous year, the business earned $0.48 earnings per share. The company’s revenue for the quarter was down 9.2% compared to the same quarter last year.

Benchmark Electronics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a $0.17 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.53%. This is a positive change from Benchmark Electronics’s previous quarterly dividend of $0.17. Benchmark Electronics’s dividend payout ratio (DPR) is currently 37.16%.

Insider Buying and Selling at Benchmark Electronics

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of Benchmark Electronics stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $42.70, for a total transaction of $302,017.10. Following the completion of the sale, the director now owns 42,027 shares in the company, valued at approximately $1,794,552.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. StockNews.com cut shares of Benchmark Electronics from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Needham & Company LLC upped their price target on shares of Benchmark Electronics from $40.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Lake Street Capital boosted their price objective on Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $41.33.

Benchmark Electronics 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.