Universal Beteiligungs und Servicegesellschaft mbH Takes $558,000 Position in Benchmark Electronics, Inc. (NYSE:BHE)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new position in Benchmark Electronics, purchasing 14,662 shares worth approximately $558,000 in the first quarter of the year.
• Several analysts have recently altered their ratings on Benchmark Electronics, with Wall Street Zen downgrading the stock from "buy" to "hold" and Needham & Company lowering their target price from $50 to $48 while maintaining a "buy" rating.
• Benchmark Electronics' stock has seen a decline of 2.0%, while the company reported a quarterly EPS of $0.55, slightly above analysts' estimates, even though revenue declined by 3.6% year-over-year.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Benchmark Electronics, Inc. (NYSE:BHE - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 14,662 shares of the technology company's stock, valued at approximately $558,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in shares of Benchmark Electronics during the 4th quarter valued at about $4,145,000. Cerity Partners LLC purchased a new stake in Benchmark Electronics in the first quarter worth about $489,000. Tidal Investments LLC bought a new stake in Benchmark Electronics during the 4th quarter valued at approximately $263,000. Assenagon Asset Management S.A. grew its holdings in shares of Benchmark Electronics by 21.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 58,572 shares of the technology company's stock worth $2,227,000 after acquiring an additional 10,537 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Benchmark Electronics by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,308 shares of the technology company's stock worth $922,000 after acquiring an additional 709 shares in the last quarter. 92.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wall Street Zen lowered Benchmark Electronics from a "buy" rating to a "hold" rating in a research report on Saturday. Needham & Company LLC lowered their price objective on Benchmark Electronics from $48.00 to $47.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Finally, Lake Street Capital reduced their target price on shares of Benchmark Electronics from $52.00 to $46.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th.

Benchmark Electronics Stock Down 0.6%

Shares of NYSE BHE traded down $0.23 on Wednesday, reaching $38.88. 129,154 shares of the company's stock traded hands, compared to its average volume of 327,102. The business's 50 day simple moving average is $38.69 and its two-hundred day simple moving average is $38.78. Benchmark Electronics, Inc. has a 12 month low of $30.73 and a 12 month high of $52.57. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 36.90 and a beta of 0.99. The company has a quick ratio of 1.46, a current ratio of 2.36 and a debt-to-equity ratio of 0.18.

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

Benchmark Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Monday, June 30th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, June 30th. Benchmark Electronics's payout ratio is currently 64.76%.

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.