Peregrine Capital Management LLC Sells 11,960 Shares of Benchmark Electronics, Inc. $BHE

Key Points

• Peregrine Capital Management cut its Benchmark Electronics stake by 8.8% in the first quarter, selling 11,960 shares and leaving it with 124,349 shares worth about $6.97 million.
• Benchmark Electronics beat earnings expectations in its latest quarter, reporting $0.58 EPS versus $0.56 expected, while revenue rose 7.1% year over year to $677.28 million.
• Analysts remain constructive overall, with two Buy ratings and one Hold, a consensus “Moderate Buy” rating, and an average price target of $86.00; the stock recently traded above that level at $95.08.

Peregrine Capital Management LLC trimmed its position in Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 124,349 shares of the technology company's stock after selling 11,960 shares during the quarter. Peregrine Capital Management LLC owned 0.35% of Benchmark Electronics worth $6,971,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. grew its holdings in Benchmark Electronics by 69.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 609 shares of the technology company's stock worth $26,000 after acquiring an additional 250 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Benchmark Electronics during the fourth quarter worth about $42,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Benchmark Electronics in the third quarter worth about $40,000. Clearstead Advisors LLC increased its holdings in Benchmark Electronics by 246.8% during the 4th quarter. Clearstead Advisors LLC now owns 1,363 shares of the technology company's stock valued at $58,000 after purchasing an additional 970 shares during the period. Finally, Parkside Financial Bank & Trust increased its holdings in Benchmark Electronics by 28.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,446 shares of the technology company's stock valued at $62,000 after purchasing an additional 322 shares during the period. 92.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BHE has been the topic of a number of recent analyst reports. Needham & Company LLC lifted their price objective on Benchmark Electronics from $62.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Lake Street Capital restated a "buy" rating and set a $92.00 target price on shares of Benchmark Electronics in a report on Thursday, April 30th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Benchmark Electronics in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $86.00.

Benchmark Electronics Stock Performance

Shares of BHE opened at $95.08 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.18 and a quick ratio of 1.42. Benchmark Electronics, Inc. has a one year low of $34.44 and a one year high of $100.41. The company has a 50-day simple moving average of $85.04 and a two-hundred day simple moving average of $64.55. The firm has a market capitalization of $3.41 billion, a PE ratio of 100.08 and a beta of 1.24.

Benchmark Electronics (NYSE:BHE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.02. Benchmark Electronics had a return on equity of 6.63% and a net margin of 1.27%.The business had revenue of $677.28 million for the quarter, compared to analysts' expectations of $676.25 million. During the same period in the previous year, the firm posted $0.52 EPS. The business's revenue was up 7.1% on a year-over-year basis. Benchmark Electronics has set its Q2 2026 guidance at 0.650-0.710 EPS.

Benchmark Electronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Benchmark Electronics's dividend payout ratio is presently 71.58%.

Insiders Place Their Bets

In other news, CEO David Moezidis sold 12,500 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $87.57, for a total value of $1,094,625.00. Following the sale, the chief executive officer directly owned 85,564 shares of the company's stock, valued at $7,492,839.48. This represents a 12.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rhonda R. Turner sold 6,600 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $85.14, for a total transaction of $561,924.00. Following the completion of the transaction, the senior vice president owned 36,067 shares of the company's stock, valued at approximately $3,070,744.38. The trade was a 15.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 86,352 shares of company stock valued at $7,312,806 in the last 90 days. Corporate insiders own 1.10% of the company's stock.

About Benchmark Electronics

Benchmark Electronics, Inc is a global provider of comprehensive electronics manufacturing services (EMS) and integrated engineering solutions. The company offers a full suite of services that span the entire product lifecycle, from early‐stage design and prototyping to high‐volume production and aftermarket support. Benchmark serves diverse end markets, including industrial automation, medical devices, communications, aerospace and defense, and semiconductor equipment.

At the core of Benchmark's offering are printed circuit board assemblies (PCBA), system integration, box build assemblies and turnkey manufacturing.

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