Benchmark Electronics, Inc. (NYSE:BHE) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 3,304.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 86,708 shares of the technology company’s stock after buying an additional 84,161 shares during the period. GAMMA Investing LLC owned 0.24% of Benchmark Electronics worth $3,298,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BHE. Boston Partners grew its position 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 acquiring an additional 354,567 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Benchmark Electronics by 45.2% during the 4th quarter. JPMorgan Chase & Co. now owns 815,499 shares of the technology company’s stock worth $37,024,000 after purchasing an additional 253,730 shares during the period. American Century Companies Inc. increased its position 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 worth $52,358,000 after purchasing an additional 166,967 shares in the last quarter. Millennium Management LLC raised its holdings in Benchmark Electronics by 90.4% in the fourth quarter. Millennium Management LLC now owns 336,466 shares of the technology company’s stock valued at $15,276,000 after buying an additional 159,769 shares during the period. Finally, Norges Bank purchased a new position in Benchmark Electronics in the fourth quarter valued at approximately $5,302,000. 92.29% of the stock is currently owned by institutional investors and hedge funds.

Benchmark Electronics Price Performance

Shares of BHE stock opened at $38.28 on Thursday. The firm has a fifty day simple moving average of $36.14 and a 200-day simple moving average of $41.01. The company has a market capitalization of $1.38 billion, a PE ratio of 22.13 and a beta of 0.95. Benchmark Electronics, Inc. has a twelve month low of $30.73 and a twelve month high of $52.57. 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 announced its earnings results on Tuesday, April 29th. The technology company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. Benchmark Electronics had a return on equity of 6.68% and a net margin of 2.38%. The company had revenue of $631.76 million during the quarter, compared to the consensus estimate of $640.00 million. During the same period last year, the firm earned $0.55 earnings per share. The company’s revenue was down 6.5% on a year-over-year basis.

Benchmark Electronics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Monday, June 30th. Benchmark Electronics’s payout ratio is currently 46.90%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BHE. Lake Street Capital decreased their price objective on shares of Benchmark Electronics from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Wall Street Zen lowered Benchmark Electronics from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Finally, Needham & Company LLC reduced their price objective on Benchmark Electronics from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th.

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.