Millennium Management LLC Has $15.28 Million Stock Holdings in Benchmark Electronics, Inc. (NYSE:BHE)

Millennium Management LLC boosted its stake in Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 90.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 336,466 shares of the technology company's stock after acquiring an additional 159,769 shares during the quarter. Millennium Management LLC owned about 0.93% of Benchmark Electronics worth $15,276,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Benchmark Electronics in the 4th quarter worth approximately $4,145,000. Proficio Capital Partners LLC purchased a new position in Benchmark Electronics in the 4th quarter worth approximately $868,000. Barclays PLC boosted its holdings in Benchmark Electronics by 128.8% in the 3rd quarter. Barclays PLC now owns 86,024 shares of the technology company's stock worth $3,814,000 after acquiring an additional 48,425 shares during the period. Swiss National Bank boosted its holdings in Benchmark Electronics by 1.0% in the 4th quarter. Swiss National Bank now owns 71,000 shares of the technology company's stock worth $3,223,000 after acquiring an additional 700 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Benchmark Electronics by 3.3% in the 4th quarter. Principal Financial Group Inc. now owns 190,444 shares of the technology company's stock worth $8,646,000 after acquiring an additional 6,112 shares during the period. Hedge funds and other institutional investors own 92.29% of the company's stock.

Benchmark Electronics Stock Performance

Shares of BHE stock traded down $0.54 on Wednesday, hitting $36.37. 10,162 shares of the stock traded hands, compared to its average volume of 325,273. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.32 and a quick ratio of 1.46. The company has a market capitalization of $1.31 billion, a PE ratio of 21.03 and a beta of 0.92. Benchmark Electronics, Inc. has a 1-year low of $30.73 and a 1-year high of $52.57. The company's fifty day moving average is $36.36 and its 200 day moving average is $41.78.

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 (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $640.00 million. During the same period in the prior year, the company posted $0.55 EPS. The business's revenue was down 6.5% compared to the same quarter last year.

Benchmark Electronics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Monday, March 31st were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Monday, March 31st. Benchmark Electronics's payout ratio is currently 46.90%.

Insider Buying and Selling

In related news, CEO Jeff Benck sold 6,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was 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 $17,398,347.60. This trade represents a 1.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BHE shares. Lake Street Capital reduced their target price on Benchmark Electronics from $52.00 to $46.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Needham & Company LLC reduced their target price on Benchmark Electronics from $50.00 to $48.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, Wall Street Zen cut Benchmark Electronics from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd.

Benchmark Electronics 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.