Benchmark Electronics, Inc. (NYSE:BHE) Stock Holdings Boosted by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its stake in Benchmark Electronics by 35.5%, acquiring a total of 423,405 shares worth approximately $16.1 million.
• Benchmark Electronics reported a net margin of 2.03% and a revenue of $631.76 million for the last quarter, which fell short of analysts' expectations.
• The company declared a quarterly dividend of $0.17 per share, yielding 1.75%, with a payout ratio of 46.90%.

Allianz Asset Management GmbH lifted its stake in Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 35.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 423,405 shares of the technology company's stock after buying an additional 111,022 shares during the period. Allianz Asset Management GmbH owned approximately 1.18% of Benchmark Electronics worth $16,102,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in shares of Benchmark Electronics in the fourth quarter worth about $4,145,000. Tidal Investments LLC acquired a new position in shares of Benchmark Electronics in the fourth quarter worth about $263,000. Assenagon Asset Management S.A. lifted its stake in shares of Benchmark Electronics by 21.9% in the first quarter. Assenagon Asset Management S.A. now owns 58,572 shares of the technology company's stock worth $2,227,000 after acquiring an additional 10,537 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Benchmark Electronics by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,308 shares of the technology company's stock valued at $922,000 after buying an additional 709 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in Benchmark Electronics by 11.3% during the first quarter. Robeco Institutional Asset Management B.V. now owns 16,389 shares of the technology company's stock valued at $623,000 after buying an additional 1,662 shares in the last quarter. Hedge funds and other institutional investors own 92.29% of the company's stock.

Benchmark Electronics Stock Performance

NYSE BHE traded up $0.28 during trading hours on Friday, hitting $38.85. The company had a trading volume of 156,969 shares, compared to its average volume of 200,171. 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 firm has a market cap of $1.40 billion, a P/E ratio of 26.79 and a beta of 0.95. Benchmark Electronics, Inc. has a fifty-two week low of $30.73 and a fifty-two week high of $52.57. The business has a fifty day simple moving average of $38.33 and a 200-day simple moving average of $39.20.

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 the consensus estimate of $0.50 by $0.02. Benchmark Electronics had a net margin of 2.03% and a return on equity of 6.37%. The firm 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 firm posted $0.55 EPS. Benchmark Electronics's quarterly revenue was down 6.5% compared to the same quarter last year.

Benchmark Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Monday, June 30th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.75%. The ex-dividend date was Monday, June 30th. Benchmark Electronics's dividend payout ratio is currently 46.90%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BHE shares. Wall Street Zen upgraded Benchmark Electronics from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Needham & Company LLC cut their price objective on Benchmark Electronics from $50.00 to $48.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Finally, Lake Street Capital cut their price objective on Benchmark Electronics from $52.00 to $46.00 and set a "buy" rating on the stock in a research note 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.