Versor Investments LP Grows Stake in Benchmark Electronics, Inc. $BHE

Key Points

• Versor Investments LP increased its stake in Benchmark Electronics by 99.9%, acquiring an additional 11,700 shares, resulting in ownership of 23,415 shares valued at approximately $890,000.
• Recent analyst reports reflect a downgrade from "buy" to "hold" by Wall Street Zen, with several price target adjustments indicating mixed sentiment towards the stock.
• Benchmark Electronics announced a quarterly dividend of $0.17 per share, representing an annualized yield of 1.7% and a payout ratio of 64.76%.

Versor Investments LP raised its stake in Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 99.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,415 shares of the technology company's stock after acquiring an additional 11,700 shares during the quarter. Versor Investments LP owned approximately 0.06% of Benchmark Electronics worth $890,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. New Age Alpha Advisors LLC purchased a new stake in shares of Benchmark Electronics during the 1st quarter valued at approximately $56,000. Versant Capital Management Inc lifted its stake in shares of Benchmark Electronics by 197.5% during the 1st quarter. Versant Capital Management Inc now owns 2,475 shares of the technology company's stock valued at $94,000 after buying an additional 1,643 shares in the last quarter. State of Wyoming lifted its stake in shares of Benchmark Electronics by 213.4% during the 4th quarter. State of Wyoming now owns 3,563 shares of the technology company's stock valued at $162,000 after buying an additional 2,426 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Benchmark Electronics by 94.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,693 shares of the technology company's stock valued at $213,000 after buying an additional 2,278 shares in the last quarter. Finally, Linscomb Wealth Inc. purchased a new stake in shares of Benchmark Electronics during the 1st quarter valued at approximately $214,000. 92.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BHE has been the topic of a number of recent research reports. Wall Street Zen cut shares of Benchmark Electronics from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Lake Street Capital dropped their price target 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 dropped their price target on shares of Benchmark Electronics from $48.00 to $47.00 and set a "buy" rating on the stock in a research note on Friday, August 1st.

Benchmark Electronics Stock Performance

Benchmark Electronics stock opened at $39.58 on Tuesday. The firm's 50 day simple moving average is $39.05 and its 200 day simple moving average is $38.32. The company has a current ratio of 2.36, a quick ratio of 1.46 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.42 billion, a PE ratio of 37.70 and a beta of 0.99. Benchmark Electronics, Inc. has a 1-year low of $30.73 and a 1-year high of $52.57.

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

Benchmark Electronics Announces Dividend

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

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