Benchmark Electronics, Inc. (NYSE:BHE) was the target of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 404,688 shares, a drop of 49.3% from the February 15th total of 798,001 shares. Based on an average trading volume of 393,688 shares, the short-interest ratio is presently 1.0 days. Approximately 0.8% of the shares of the company are sold short.
Separately, TheStreet raised shares of Benchmark Electronics from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $36.67.
NYSE BHE traded down $0.50 on Friday, reaching $29.10. The company had a trading volume of 278,224 shares, compared to its average volume of 399,652. The stock has a market cap of $1,418.01, a PE ratio of 18.07 and a beta of 0.38. Benchmark Electronics has a 1 year low of $27.05 and a 1 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.
Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.12. The firm had revenue of $679.86 million during the quarter. Benchmark Electronics had a positive return on equity of 5.83% and a negative net margin of 1.30%.
Benchmark Electronics declared that its Board of Directors has authorized a stock buyback plan on Wednesday, March 7th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the technology company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared 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. The ex-dividend date is Wednesday, March 28th. This represents a $0.60 annualized dividend and a dividend yield of 2.06%. Benchmark Electronics’s payout ratio is 37.27%.
Hedge funds have recently made changes to their positions in the stock. Nationwide Fund Advisors lifted its stake in Benchmark Electronics by 31.1% in the 3rd quarter. Nationwide Fund Advisors now owns 188,559 shares of the technology company’s stock worth $6,439,000 after acquiring an additional 44,712 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Benchmark Electronics during the 3rd quarter worth about $574,000. BNP Paribas Arbitrage SA raised its stake in shares of Benchmark Electronics by 30.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 26,570 shares of the technology company’s stock worth $907,000 after purchasing an additional 6,143 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of Benchmark Electronics by 59.2% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 18,660 shares of the technology company’s stock worth $637,000 after purchasing an additional 6,940 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Benchmark Electronics by 1.7% during the 3rd quarter. Rhumbline Advisers now owns 105,938 shares of the technology company’s stock worth $3,618,000 after purchasing an additional 1,750 shares in the last quarter. 97.99% of the stock is owned by institutional investors and hedge funds.
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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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