QS Investors LLC lowered its stake in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 3.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 217,706 shares of the technology company’s stock after selling 8,588 shares during the period. QS Investors LLC’s holdings in Benchmark Electronics were worth $6,335,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Pinebridge Investments L.P. raised its stake in Benchmark Electronics by 39.0% during the fourth quarter. Pinebridge Investments L.P. now owns 88,305 shares of the technology company’s stock worth $2,570,000 after purchasing an additional 24,755 shares during the period. Crossmark Global Holdings Inc. purchased a new position in Benchmark Electronics during the third quarter worth approximately $574,000. GSA Capital Partners LLP raised its stake in Benchmark Electronics by 15.7% during the third quarter. GSA Capital Partners LLP now owns 29,392 shares of the technology company’s stock worth $1,004,000 after purchasing an additional 3,992 shares during the period. Nationwide Fund Advisors raised its stake in Benchmark Electronics by 31.1% during the third quarter. Nationwide Fund Advisors now owns 188,559 shares of the technology company’s stock worth $6,439,000 after purchasing an additional 44,712 shares during the period. Finally, OxFORD Asset Management LLP raised its stake in Benchmark Electronics by 37.7% during the third quarter. OxFORD Asset Management LLP now owns 122,191 shares of the technology company’s stock worth $4,222,000 after purchasing an additional 33,468 shares during the period. 98.03% of the stock is currently owned by institutional investors.
Benchmark Electronics, Inc. (NYSE:BHE) opened at $31.80 on Wednesday. Benchmark Electronics, Inc. has a one year low of $27.05 and a one year high of $35.80. The company has a quick ratio of 2.55, a current ratio of 3.38 and a debt-to-equity ratio of 0.15. The company has a market cap of $1,566.63, a price-to-earnings ratio of -48.18 and a beta of 0.39.
Benchmark Electronics (NYSE:BHE) last issued its earnings results on Wednesday, February 7th. The technology company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.12. Benchmark Electronics had a negative net margin of 1.30% and a positive return on equity of 5.83%. The business had revenue of $679.86 million for the quarter.
Benchmark Electronics declared that its Board of Directors has approved a share buyback plan on Wednesday, March 7th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 11th. Stockholders of record on Thursday, March 29th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Wednesday, March 28th.
Separately, TheStreet downgraded shares of Benchmark Electronics from a “b-” rating to a “c” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $36.67.
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About Benchmark Electronics
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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