Benchmark Electronics (NYSE:BHE) Trading Down 14% on Analyst Downgrade

Benchmark Electronics, Inc. (NYSE:BHE - Get Free Report)'s stock price fell 14% on Wednesday after StockNews.com downgraded the stock from a buy rating to a hold rating. The company traded as low as $33.34 and last traded at $32.92. 29,624 shares were traded during mid-day trading, a decline of 92% from the average session volume of 373,553 shares. The stock had previously closed at $38.27.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC lowered their target price on shares of Benchmark Electronics from $50.00 to $48.00 and set a "buy" rating on the stock in a report on Wednesday. Lake Street Capital dropped their price objective on shares of Benchmark Electronics from $52.00 to $46.00 and set a "buy" rating for the company in a report on Wednesday.

Insider Transactions at Benchmark Electronics

In other news, CEO Jeff Benck sold 6,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $38.82, for a total transaction of $232,920.00. Following the transaction, the chief executive officer now directly owns 448,180 shares in the company, valued at approximately $17,398,347.60. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust acquired a new stake in shares of Benchmark Electronics in the 4th quarter valued at $50,000. Versant Capital Management Inc increased its position in Benchmark Electronics by 197.5% in the first quarter. Versant Capital Management Inc now owns 2,475 shares of the technology company's stock worth $94,000 after purchasing an additional 1,643 shares during the period. KBC Group NV lifted its position in Benchmark Electronics by 40.2% during the 4th quarter. KBC Group NV now owns 2,151 shares of the technology company's stock valued at $98,000 after purchasing an additional 617 shares during the period. GAMMA Investing LLC lifted its position in Benchmark Electronics by 12.9% during the 4th quarter. GAMMA Investing LLC now owns 2,547 shares of the technology company's stock valued at $116,000 after purchasing an additional 292 shares during the period. Finally, State of Wyoming boosted its stake in shares of Benchmark Electronics by 213.4% in the 4th quarter. State of Wyoming now owns 3,563 shares of the technology company's stock valued at $162,000 after purchasing an additional 2,426 shares during the last quarter. Institutional investors own 92.29% of the company's stock.

Benchmark Electronics Stock Performance

The stock's 50 day moving average is $37.41 and its two-hundred day moving average is $42.92. The firm has a market capitalization of $1.26 billion, a P/E ratio of 20.20 and a beta of 0.83. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.32 and a quick ratio of 1.46.

Benchmark Electronics (NYSE:BHE - Get Free Report) last issued its earnings results on Tuesday, April 29th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.50 by $0.02. Benchmark Electronics had a net margin of 2.38% and a return on equity of 6.68%. The company had revenue of $631.76 million during the quarter, compared to analysts' expectations of $640.00 million. During the same quarter in the previous year, the company posted $0.55 EPS. The business's revenue for the quarter was down 6.5% compared to the same quarter last year.

Benchmark Electronics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Monday, March 31st were given a dividend of $0.17 per share. The ex-dividend date was Monday, March 31st. This represents a $0.68 annualized dividend and a dividend yield of 1.95%. Benchmark Electronics's payout ratio is currently 46.90%.

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.