Benchmark Electronics, Inc. $BHE Shares Acquired by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in Benchmark Electronics by 224.9% in Q1, owning 150,059 shares valued at approximately $5.7 million.
• Benchmark Electronics had a quarterly revenue of $642.34 million, exceeding analyst expectations, but reported a 3.6% decline year-over-year in revenue.
• The company recently declared a quarterly dividend of $0.17 per share, representing an annualized dividend of $0.68 with a yield of 1.7%.

Algert Global LLC increased its stake in Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 224.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,059 shares of the technology company's stock after acquiring an additional 103,870 shares during the period. Algert Global LLC owned approximately 0.42% of Benchmark Electronics worth $5,707,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BHE. Nuveen LLC purchased a new position in Benchmark Electronics in the first quarter valued at $6,746,000. Kovitz Investment Group Partners LLC increased its holdings in Benchmark Electronics by 520.4% in the first quarter. Kovitz Investment Group Partners LLC now owns 197,280 shares of the technology company's stock valued at $7,503,000 after buying an additional 165,482 shares during the last quarter. Millennium Management LLC increased its holdings in Benchmark Electronics by 90.4% in the fourth quarter. Millennium Management LLC now owns 336,466 shares of the technology company's stock valued at $15,276,000 after buying an additional 159,769 shares during the last quarter. Peregrine Capital Management LLC purchased a new position in Benchmark Electronics in the first quarter valued at $4,859,000. Finally, Allianz Asset Management GmbH grew its holdings in shares of Benchmark Electronics by 35.5% during the first quarter. Allianz Asset Management GmbH now owns 423,405 shares of the technology company's stock worth $16,102,000 after purchasing an additional 111,022 shares during the last quarter. 92.29% of the stock is currently owned by institutional investors and hedge funds.

Benchmark Electronics Stock Performance

Shares of BHE stock opened at $39.58 on Tuesday. The stock's 50-day moving average is $39.05 and its two-hundred day moving average is $38.32. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 37.70 and a beta of 0.99. Benchmark Electronics, Inc. has a 1 year low of $30.73 and a 1 year high of $52.57. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.46 and a current ratio of 2.36.

Benchmark Electronics (NYSE:BHE - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.01. Benchmark Electronics had a return on equity of 6.08% and a net margin of 1.48%. The firm had revenue of $642.34 million for the quarter, compared to analyst estimates of $638.67 million. During the same quarter last year, the company posted $0.57 earnings per share. The business's revenue was down 3.6% on a year-over-year basis.

Benchmark Electronics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Monday, June 30th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.7%. Benchmark Electronics's dividend payout ratio (DPR) is currently 64.76%.

Analysts Set New Price Targets

Several equities analysts have issued reports on BHE shares. Wall Street Zen lowered Benchmark Electronics from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Needham & Company LLC dropped their price objective on Benchmark Electronics from $48.00 to $47.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Finally, Lake Street Capital dropped their price objective on Benchmark Electronics from $52.00 to $46.00 and set a "buy" rating on the stock in a 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.

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