Needham & Company LLC Has Lowered Expectations for Benchmark Electronics (NYSE:BHE) Stock Price

Benchmark Electronics (NYSE:BHE) had its target price decreased by analysts at Needham & Company LLC from $50.00 to $48.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target suggests a potential upside of 42.41% from the stock’s current price.

Separately, StockNews.com raised shares of Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th.

Benchmark Electronics Price Performance

Benchmark Electronics stock opened at $33.71 on Wednesday. The stock has a 50-day moving average price of $37.51 and a two-hundred day moving average price of $42.98. Benchmark Electronics has a 12 month low of $30.73 and a 12 month high of $52.57. The company has a market capitalization of $1.21 billion, a PE ratio of 19.48 and a beta of 0.83. The company has a current ratio of 2.32, a quick ratio of 1.46 and a debt-to-equity ratio of 0.24.

Benchmark Electronics (NYSE:BHE) last posted its 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 firm had revenue of $631.76 million for the quarter, compared to analyst estimates of $640.00 million. Benchmark Electronics had a net margin of 2.38% and a return on equity of 6.68%. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 EPS.

Insider Activity at Benchmark Electronics

In other Benchmark Electronics news, CEO Jeff Benck sold 6,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $38.82, for a total transaction of $232,920.00. Following the completion of the transaction, the chief executive officer now directly owns 448,180 shares of the company’s stock, valued at approximately $17,398,347.60. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Benchmark Electronics

Several hedge funds have recently made changes to their positions in BHE. Boston Partners lifted its holdings in Benchmark Electronics by 569.5% during the fourth quarter. Boston Partners now owns 416,831 shares of the technology company’s stock valued at $17,638,000 after purchasing an additional 354,567 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Benchmark Electronics by 45.2% in the 4th quarter. JPMorgan Chase & Co. now owns 815,499 shares of the technology company’s stock worth $37,024,000 after buying an additional 253,730 shares during the period. American Century Companies Inc. raised its holdings in Benchmark Electronics by 16.9% during the 4th quarter. American Century Companies Inc. now owns 1,153,257 shares of the technology company’s stock valued at $52,358,000 after acquiring an additional 166,967 shares during the period. Millennium Management LLC lifted 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 acquiring an additional 159,769 shares in the last quarter. Finally, Peregrine Capital Management LLC bought a new position in shares of Benchmark Electronics in the first quarter worth $4,859,000. 92.29% of the stock is currently owned by institutional investors.

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.