Benchmark Electronics, Inc. (NYSE:BHE) Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC reduced its stake in Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 14.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 491,325 shares of the technology company's stock after selling 84,037 shares during the period. Benchmark Electronics accounts for 1.6% of Tributary Capital Management LLC's holdings, making the stock its 25th biggest holding. Tributary Capital Management LLC owned about 1.36% of Benchmark Electronics worth $18,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its stake in shares of Benchmark Electronics by 227.9% during the first quarter. Victory Capital Management Inc. now owns 128,281 shares of the technology company's stock valued at $4,879,000 after purchasing an additional 89,154 shares in the last quarter. Cerity Partners LLC purchased a new stake in Benchmark Electronics during the first quarter valued at approximately $489,000. Principal Financial Group Inc. lifted its position in Benchmark Electronics by 2.6% during the first quarter. Principal Financial Group Inc. now owns 195,435 shares of the technology company's stock valued at $7,432,000 after acquiring an additional 4,991 shares during the last quarter. Teacher Retirement System of Texas lifted its position in Benchmark Electronics by 150.1% during the first quarter. Teacher Retirement System of Texas now owns 151,802 shares of the technology company's stock valued at $5,773,000 after acquiring an additional 91,107 shares during the last quarter. Finally, Peregrine Capital Management LLC purchased a new stake in Benchmark Electronics during the first quarter valued at approximately $4,859,000. 92.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BHE has been the subject of a number of analyst reports. Lake Street Capital decreased their target price 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. Wall Street Zen raised shares of Benchmark Electronics from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Finally, Needham & Company LLC decreased their price target on shares of Benchmark Electronics from $50.00 to $48.00 and set a "buy" rating for the company in a report on Wednesday, April 30th.

Benchmark Electronics Stock Performance

BHE stock traded down $0.47 during midday trading on Friday, hitting $39.41. 179,546 shares of the stock traded hands, compared to its average volume of 295,847. The firm has a market cap of $1.42 billion, a P/E ratio of 27.18 and a beta of 0.95. 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 stock's fifty day simple moving average is $38.10 and its 200-day simple moving average is $39.42. Benchmark Electronics, Inc. has a 1-year low of $30.73 and a 1-year high of $52.57.

Benchmark Electronics (NYSE:BHE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate 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 for the quarter was down 6.5% on a year-over-year basis. During the same period last year, the firm posted $0.55 earnings per share.

Benchmark Electronics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Monday, June 30th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Monday, June 30th. Benchmark Electronics's dividend payout ratio (DPR) is 46.90%.

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.