Benchmark Electronics, Inc. (NYSE:BHE) Shares Bought by Royce & Associates LP

Key Points

• Royce & Associates LP increased its stake in Benchmark Electronics by 30.3%, acquiring an additional 11,009 shares, bringing its total holdings to 47,377 shares valued at approximately $1.8 million.
• Benchmark Electronics recently reported earnings of $0.52 per share, surpassing analysts' expectations of $0.50, although revenue for the quarter fell 6.5% year-over-year to $631.76 million.
• The company declared a quarterly dividend of $0.17 per share, resulting in an annualized dividend yield of 1.74% and a payout ratio of 46.90%.

Royce & Associates LP grew its holdings in Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 30.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,377 shares of the technology company's stock after purchasing an additional 11,009 shares during the quarter. Royce & Associates LP owned 0.13% of Benchmark Electronics worth $1,802,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BHE. KLP Kapitalforvaltning AS purchased a new position in Benchmark Electronics in the fourth quarter worth approximately $701,000. LPL Financial LLC lifted its stake in Benchmark Electronics by 8.3% in the fourth quarter. LPL Financial LLC now owns 15,067 shares of the technology company's stock worth $684,000 after acquiring an additional 1,156 shares during the last quarter. Prudential Financial Inc. lifted its stake in Benchmark Electronics by 46.6% in the fourth quarter. Prudential Financial Inc. now owns 99,065 shares of the technology company's stock worth $4,660,000 after acquiring an additional 31,490 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Benchmark Electronics by 45.2% in the fourth quarter. JPMorgan Chase & Co. now owns 815,499 shares of the technology company's stock worth $37,024,000 after acquiring an additional 253,730 shares during the last quarter. Finally, Norges Bank purchased a new position in Benchmark Electronics in the fourth quarter worth approximately $5,302,000. Hedge funds and other institutional investors own 92.29% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Benchmark Electronics from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Needham & Company LLC reduced their price objective on shares of Benchmark Electronics from $50.00 to $48.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Finally, Lake Street Capital reduced their price objective 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.

Benchmark Electronics Stock Performance

Shares of Benchmark Electronics stock traded down $0.62 during trading on Friday, reaching $37.89. The company's stock had a trading volume of 120,779 shares, compared to its average volume of 326,407. The company has a 50-day moving average price of $38.49 and a two-hundred day moving average price of $39.07. The firm has a market cap of $1.37 billion, a PE ratio of 36.05 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 company has a current ratio of 2.37, a quick ratio of 1.48 and a debt-to-equity ratio of 0.24.

Benchmark Electronics (NYSE:BHE - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.01. The business had revenue of $642.34 million for the quarter, compared to analysts' expectations of $638.67 million. Benchmark Electronics had a net margin of 1.48% and a return on equity of 6.08%. The company's quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS.

Benchmark Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Monday, June 30th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, June 30th. Benchmark Electronics's payout ratio is presently 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.