Envestnet Asset Management Inc. Sells 12,177 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

Envestnet Asset Management Inc. cut its stake in Benchmark Electronics, Inc. (NYSE:BHE) by 13.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,731 shares of the technology company’s stock after selling 12,177 shares during the quarter. Envestnet Asset Management Inc. owned 0.23% of Benchmark Electronics worth $3,108,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BHE. JPMorgan Chase & Co. increased its stake in shares of Benchmark Electronics by 45.2% in the 4th 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 during the last quarter. Millennium Management LLC increased its stake in shares of Benchmark Electronics by 90.4% in the 4th quarter. Millennium Management LLC now owns 336,466 shares of the technology company’s stock valued at $15,276,000 after acquiring an additional 159,769 shares during the last quarter. Peregrine Capital Management LLC acquired a new position in shares of Benchmark Electronics in the 1st quarter valued at approximately $4,859,000. Norges Bank acquired a new position in shares of Benchmark Electronics in the 4th quarter valued at approximately $5,302,000. Finally, Tudor Investment Corp ET AL raised its holdings in Benchmark Electronics by 480.7% during the 4th quarter. Tudor Investment Corp ET AL now owns 121,602 shares of the technology company’s stock worth $5,521,000 after buying an additional 100,663 shares during the period. 92.29% of the stock is owned by institutional investors.

Benchmark Electronics Trading Up 0.7%

NYSE:BHE opened at $38.85 on Monday. Benchmark Electronics, Inc. has a twelve month low of $30.73 and a twelve month high of $52.57. The company has a quick ratio of 1.48, a current ratio of 2.37 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average price of $38.33 and a two-hundred day moving average price of $39.11. The company has a market cap of $1.40 billion, a P/E ratio of 26.79 and a beta of 0.95.

Benchmark Electronics (NYSE:BHE) last released 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. Benchmark Electronics had a return on equity of 6.37% and a net margin of 2.03%. The firm had revenue of $631.76 million during the quarter, compared to the consensus estimate of $640.00 million. During the same quarter in the prior year, the firm posted $0.55 EPS. The business’s revenue was down 6.5% on a year-over-year basis.

Benchmark Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Monday, June 30th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Monday, June 30th. Benchmark Electronics’s dividend payout ratio (DPR) is currently 46.90%.

Analysts Set New Price Targets

Several research firms have recently weighed in on BHE. Needham & Company LLC reduced their price target on shares of Benchmark Electronics from $50.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Wall Street Zen upgraded shares of Benchmark Electronics from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. Finally, Lake Street Capital cut their price target on Benchmark Electronics from $52.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th.

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.