Peregrine Capital Management LLC Takes Position in Benchmark Electronics, Inc. (NYSE:BHE)

Peregrine Capital Management LLC bought a new stake in Benchmark Electronics, Inc. (NYSE:BHE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 127,778 shares of the technology company's stock, valued at approximately $4,859,000. Peregrine Capital Management LLC owned 0.35% of Benchmark Electronics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in shares of Benchmark Electronics during the fourth quarter valued at $4,145,000. Proficio Capital Partners LLC bought a new stake in shares of Benchmark Electronics during the fourth quarter valued at approximately $868,000. Tidal Investments LLC acquired a new position in shares of Benchmark Electronics during the fourth quarter worth approximately $263,000. Assenagon Asset Management S.A. grew its holdings in Benchmark Electronics by 21.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 58,572 shares of the technology company's stock worth $2,227,000 after buying an additional 10,537 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in Benchmark Electronics by 11.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 16,389 shares of the technology company's stock valued at $623,000 after acquiring an additional 1,662 shares during the period. 92.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Benchmark Electronics Price Performance

BHE stock traded up $0.30 on Friday, hitting $40.32. 161,353 shares of the company's stock traded hands, compared to its average volume of 298,983. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 27.81 and a beta of 0.95. Benchmark Electronics, Inc. has a 1-year low of $30.73 and a 1-year high of $52.57. The company has a current ratio of 2.37, a quick ratio of 1.48 and a debt-to-equity ratio of 0.24. The stock has a fifty day moving average of $37.19 and a 200-day moving average of $39.87.

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. The company had revenue of $631.76 million for the quarter, compared to analysts' expectations of $640.00 million. Benchmark Electronics had a return on equity of 6.37% and a net margin of 2.03%. The firm's revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 earnings per share.

Benchmark Electronics Announces Dividend

The business 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. This represents a $0.68 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Monday, June 30th. Benchmark Electronics's dividend payout ratio is 46.90%.

About Benchmark Electronics

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.