Lake Street Capital Lowers Benchmark Electronics (NYSE:BHE) Price Target to $46.00

Benchmark Electronics (NYSE:BHE) had its price target decreased by analysts at Lake Street Capital from $52.00 to $46.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Lake Street Capital’s price objective would suggest a potential upside of 36.48% from the stock’s current price.

Several other brokerages have also recently issued reports on BHE. StockNews.com upgraded Benchmark Electronics from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Needham & Company LLC reduced their target price on shares of Benchmark Electronics from $50.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday.

Benchmark Electronics Stock Performance

Shares of BHE opened at $33.71 on Wednesday. Benchmark Electronics has a 12 month low of $30.73 and a 12 month high of $52.57. The stock has a fifty day moving average price of $37.51 and a 200-day moving average price of $42.98. The company has a current ratio of 2.32, a quick ratio of 1.46 and a debt-to-equity ratio of 0.24. The firm has a market cap of $1.21 billion, a PE ratio of 19.48 and a beta of 0.83.

Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings results on Tuesday, April 29th. The technology company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The business had revenue of $631.76 million for the quarter, compared to analyst estimates of $640.00 million. Benchmark Electronics had a return on equity of 6.68% and a net margin of 2.38%. The company’s revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 earnings per share.

Insider Transactions at Benchmark Electronics

In related news, CEO Jeff Benck sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $38.82, for a total value of $232,920.00. Following the completion of the sale, the chief executive officer now owns 448,180 shares of the company’s stock, valued at approximately $17,398,347.60. The trade was a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Benchmark Electronics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Boston Partners boosted its holdings in Benchmark Electronics by 569.5% in the 4th quarter. Boston Partners now owns 416,831 shares of the technology company’s stock worth $17,638,000 after buying an additional 354,567 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Benchmark Electronics by 45.2% in the fourth quarter. JPMorgan Chase & Co. now owns 815,499 shares of the technology company’s stock valued at $37,024,000 after acquiring an additional 253,730 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Benchmark Electronics by 16.9% in the fourth quarter. American Century Companies Inc. now owns 1,153,257 shares of the technology company’s stock worth $52,358,000 after acquiring an additional 166,967 shares during the last quarter. Millennium Management LLC increased its position in shares of Benchmark Electronics by 90.4% during the fourth quarter. Millennium Management LLC now owns 336,466 shares of the technology company’s stock worth $15,276,000 after purchasing an additional 159,769 shares in the last quarter. Finally, Peregrine Capital Management LLC acquired a new position in Benchmark Electronics in the 1st quarter valued at $4,859,000. Hedge funds and other institutional investors own 92.29% of the company’s stock.

About Benchmark Electronics

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.