Comerica Bank Has $1.29 Million Stock Holdings in Benchmark Electronics, Inc. (NYSE:BHE)

Comerica Bank boosted its position in Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 70.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,430 shares of the technology company's stock after purchasing an additional 11,747 shares during the period. Comerica Bank owned about 0.08% of Benchmark Electronics worth $1,291,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BHE. Parkside Financial Bank & Trust purchased a new position in Benchmark Electronics in the 4th quarter valued at about $50,000. KBC Group NV grew its stake in shares of Benchmark Electronics by 40.2% in the fourth quarter. KBC Group NV now owns 2,151 shares of the technology company's stock valued at $98,000 after buying an additional 617 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Benchmark Electronics by 94.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,693 shares of the technology company's stock worth $213,000 after buying an additional 2,278 shares in the last quarter. Bank of Montreal Can boosted its stake in Benchmark Electronics by 10.7% during the 4th quarter. Bank of Montreal Can now owns 5,100 shares of the technology company's stock valued at $232,000 after acquiring an additional 495 shares during the last quarter. Finally, Summit Global Investments acquired a new position in shares of Benchmark Electronics in the 4th quarter worth approximately $242,000. 92.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Jeff Benck sold 6,000 shares of Benchmark Electronics stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $38.82, for a total value of $232,920.00. Following the completion of the transaction, the chief executive officer now owns 448,180 shares in the company, valued at approximately $17,398,347.60. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Lake Street Capital lowered their price target on shares of Benchmark Electronics from $52.00 to $46.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. StockNews.com cut shares of Benchmark Electronics from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Finally, Needham & Company LLC cut their price target on shares of 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 Stock Up 0.0%

Shares of Benchmark Electronics stock traded up $0.01 during trading on Wednesday, hitting $37.17. 266,341 shares of the stock traded hands, compared to its average volume of 327,960. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.46 and a current ratio of 2.32. The stock has a market cap of $1.34 billion, a P/E ratio of 21.49 and a beta of 0.92. Benchmark Electronics, Inc. has a twelve month low of $30.73 and a twelve month high of $52.57. The company has a fifty day moving average price of $36.87 and a two-hundred day moving average price of $42.47.

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

Benchmark Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Monday, March 31st were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.68 annualized dividend and a yield of 1.83%. Benchmark Electronics's dividend payout ratio is 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.