Assenagon Asset Management S.A. Grows Stake in Benchmark Electronics, Inc. (NYSE:BHE)

Assenagon Asset Management S.A. raised its position in Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 21.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,572 shares of the technology company's stock after acquiring an additional 10,537 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.16% of Benchmark Electronics worth $2,227,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. grew its stake in shares of Benchmark Electronics by 0.7% in the fourth quarter. Franklin Resources Inc. now owns 1,909,918 shares of the technology company's stock worth $86,710,000 after purchasing an additional 12,350 shares during the last quarter. American Century Companies Inc. lifted its holdings in Benchmark Electronics by 16.9% in the 4th quarter. American Century Companies Inc. now owns 1,153,257 shares of the technology company's stock worth $52,358,000 after buying an additional 166,967 shares during the period. JPMorgan Chase & Co. grew its position in shares of Benchmark Electronics by 45.2% in the 4th quarter. JPMorgan Chase & Co. now owns 815,499 shares of the technology company's stock worth $37,024,000 after buying an additional 253,730 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Benchmark Electronics by 1.9% during the fourth quarter. Wellington Management Group LLP now owns 436,181 shares of the technology company's stock valued at $19,803,000 after buying an additional 8,000 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Benchmark Electronics by 8.0% during the fourth quarter. Northern Trust Corp now owns 418,234 shares of the technology company's stock valued at $18,988,000 after buying an additional 31,071 shares during the period. Hedge funds and other institutional investors own 92.29% of the company's stock.

Benchmark Electronics Stock Down 1.1%

BHE stock traded down $0.43 during midday trading on Friday, hitting $37.28. The stock had a trading volume of 239,081 shares, compared to its average volume of 341,002. The business has a 50-day moving average of $36.55 and a two-hundred day moving average of $40.57. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.37 and a quick ratio of 1.48. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 25.72 and a beta of 0.95. Benchmark Electronics, Inc. has a 52-week low of $30.73 and a 52-week high of $52.57.

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

Benchmark Electronics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.68 annualized dividend and a dividend yield of 1.82%. Benchmark Electronics's payout ratio is 46.90%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wall Street Zen lowered Benchmark Electronics from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Lake Street Capital decreased 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, April 30th. Finally, Needham & Company LLC dropped their target price on shares of Benchmark Electronics from $50.00 to $48.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th.

Benchmark Electronics Company Profile

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.