Benchmark Electronics, Inc. (NYSE:BHE) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 4.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 336,064 shares of the technology company’s stock after selling 15,409 shares during the period. Bank of New York Mellon Corp owned 0.93% of Benchmark Electronics worth $12,781,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BHE. Raymond James Financial Inc. acquired a new stake in Benchmark Electronics during the fourth quarter worth $4,145,000. Tidal Investments LLC acquired a new stake in shares of Benchmark Electronics during the 4th quarter worth about $263,000. Assenagon Asset Management S.A. raised its holdings in Benchmark Electronics by 21.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 58,572 shares of the technology company’s stock valued at $2,227,000 after buying an additional 10,537 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in Benchmark Electronics by 11.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 16,389 shares of the technology company’s stock valued at $623,000 after buying an additional 1,662 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Benchmark Electronics by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,308 shares of the technology company’s stock valued at $922,000 after buying an additional 709 shares during the last quarter. 92.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BHE has been the subject of several research analyst reports. Lake Street Capital lowered their price target on Benchmark Electronics from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Needham & Company LLC lowered their target price on Benchmark Electronics from $50.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of Benchmark Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, June 21st.

Benchmark Electronics Trading Down 1.2%

NYSE BHE opened at $39.41 on Monday. The firm’s fifty day moving average price is $38.10 and its 200 day moving average price is $39.34. Benchmark Electronics, Inc. has a 12 month low of $30.73 and a 12 month high of $52.57. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.37 and a quick ratio of 1.48. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 27.18 and a beta of 0.95.

Benchmark Electronics (NYSE:BHE) last announced its earnings results on Tuesday, April 29th. The technology company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The business had revenue of $631.76 million for the quarter, compared to analysts’ expectations of $640.00 million. Benchmark Electronics had a net margin of 2.03% and a return on equity of 6.37%. The company’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 EPS.

Benchmark Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Monday, June 30th were given a $0.17 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.73%. Benchmark Electronics’s dividend payout ratio (DPR) is 46.90%.

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.