Cornerstone Capital Management Holdings LLC. bought a new position in Benchmark Electronics, Inc. (NYSE:BHE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 16,700 shares of the technology company’s stock, valued at approximately $538,000.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Benchmark Electronics by 43,795.9% during the first quarter. BlackRock Inc. now owns 6,102,845 shares of the technology company’s stock worth $194,070,000 after acquiring an additional 6,088,942 shares in the last quarter. Eagle Boston Investment Management Inc. raised its holdings in Benchmark Electronics by 3.3% during the second quarter. Eagle Boston Investment Management Inc. now owns 223,062 shares of the technology company’s stock valued at $7,204,000 after buying an additional 7,069 shares in the last quarter. Morgan Stanley raised its holdings in Benchmark Electronics by 111.8% during the first quarter. Morgan Stanley now owns 375,217 shares of the technology company’s stock valued at $11,932,000 after buying an additional 198,078 shares in the last quarter. Geode Capital Management LLC raised its holdings in Benchmark Electronics by 5.1% during the first quarter. Geode Capital Management LLC now owns 642,740 shares of the technology company’s stock valued at $20,439,000 after buying an additional 31,227 shares in the last quarter. Finally, State Street Corp raised its holdings in Benchmark Electronics by 0.8% during the first quarter. State Street Corp now owns 1,345,668 shares of the technology company’s stock valued at $42,792,000 after buying an additional 11,303 shares in the last quarter. 95.63% of the stock is owned by institutional investors and hedge funds.
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In other news, Director Douglas G. Duncan sold 5,922 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $31.91, for a total value of $188,971.02. Following the completion of the transaction, the director now owns 30,524 shares of the company’s stock, valued at approximately $974,020.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Scott R. Peterson sold 1,000 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $32.06, for a total transaction of $32,060.00. Following the completion of the transaction, the vice president now directly owns 18,893 shares of the company’s stock, valued at approximately $605,709.58. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.
A number of equities analysts have recently commented on the company. Needham & Company LLC lowered Benchmark Electronics from a “buy” rating to a “hold” rating in a research note on Thursday, October 19th. BidaskClub downgraded Benchmark Electronics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Citigroup Inc. reissued a “neutral” rating and set a $36.00 target price (up from $32.00) on shares of Benchmark Electronics in a research report on Friday, July 21st. Finally, Royal Bank of Canada lifted their target price on Benchmark Electronics from $33.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 20th.
Shares of Benchmark Electronics, Inc. (NYSE:BHE) traded up $0.20 on Friday, hitting $30.15. The stock had a trading volume of 235,100 shares, compared to its average volume of 305,448. The firm has a market cap of $1,491.69, a P/E ratio of 19.23 and a beta of 0.50. The company has a quick ratio of 2.66, a current ratio of 3.60 and a debt-to-equity ratio of 0.14. Benchmark Electronics, Inc. has a fifty-two week low of $26.55 and a fifty-two week high of $35.80.
Benchmark Electronics (NYSE:BHE) last announced its earnings results on Wednesday, October 18th. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.34 by $0.05. Benchmark Electronics had a return on equity of 5.62% and a net margin of 2.63%. The business had revenue of $604.00 million for the quarter, compared to the consensus estimate of $584.50 million. During the same period in the previous year, the business earned $0.36 EPS. Benchmark Electronics’s revenue was up 5.2% compared to the same quarter last year.
Benchmark Electronics Company Profile
Benchmark Electronics, Inc is a provider of electronic manufacturing services. The Company operates through three segments: the Americas, Asia and Europe. It provides services to original equipment manufacturers of industrial control equipment, including equipment for the aerospace and defense industry; telecommunication equipment; computers and related products for business enterprises; medical devices, and testing and instrumentation products.
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