Benchmark Electronics (NYSE:BHE) Raised to Buy at Wall Street Zen

Benchmark Electronics (NYSE:BHE - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

Other analysts also recently issued reports about the stock. Lake Street Capital dropped their target price on shares of Benchmark Electronics from $52.00 to $46.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Needham & Company LLC dropped their target price on Benchmark Electronics from $50.00 to $48.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th.

Benchmark Electronics Trading Up 2.7%

NYSE:BHE traded up $1.03 during trading hours on Friday, hitting $38.66. 264,492 shares of the stock were exchanged, compared to its average volume of 303,226. The company has a market capitalization of $1.40 billion, a P/E ratio of 26.66 and a beta of 0.95. 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 company's 50 day moving average is $36.63 and its two-hundred day moving average is $40.30. Benchmark Electronics has a twelve month low of $30.73 and a twelve month high of $52.57.

Benchmark Electronics (NYSE:BHE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.02. The business had revenue of $631.76 million for the quarter, compared to analyst estimates of $640.00 million. Benchmark Electronics had a return on equity of 6.37% and a net margin of 2.03%. The firm's revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 earnings per share.

Institutional Trading of Benchmark Electronics

A number of hedge funds have recently made changes to their positions in BHE. Mariner LLC raised its stake in Benchmark Electronics by 2.4% in the 4th quarter. Mariner LLC now owns 14,846 shares of the technology company's stock valued at $676,000 after acquiring an additional 353 shares during the period. Martingale Asset Management L P raised its position in shares of Benchmark Electronics by 0.5% in the fourth quarter. Martingale Asset Management L P now owns 73,047 shares of the technology company's stock valued at $3,316,000 after purchasing an additional 356 shares during the period. Bank of Montreal Can lifted its stake in shares of Benchmark Electronics by 10.7% during the 4th quarter. Bank of Montreal Can now owns 5,100 shares of the technology company's stock worth $232,000 after buying an additional 495 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in shares of Benchmark Electronics by 6.2% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 11,170 shares of the technology company's stock worth $425,000 after buying an additional 650 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Benchmark Electronics by 1.0% during the 4th quarter. Swiss National Bank now owns 71,000 shares of the technology company's stock worth $3,223,000 after buying an additional 700 shares during the period. 92.29% of the stock is owned by institutional investors and hedge funds.

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.