Victory Capital Management Inc. Acquires 89,154 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

Key Points

• Victory Capital Management Inc. significantly increased its stake in Benchmark Electronics, acquiring 89,154 shares and now holding 128,281 shares, which equates to about $4.88 million.
• Benchmark Electronics' stock has received recent upgrades, with analyst ratings moving from "hold" to "buy" by several firms, indicating a positive outlook.
• The company also announced a quarterly dividend of $0.17 per share, marking a 1.75% yield, with a payout ratio of 46.90%.

Victory Capital Management Inc. raised its holdings in shares of Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 227.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 128,281 shares of the technology company's stock after acquiring an additional 89,154 shares during the quarter. Victory Capital Management Inc. owned approximately 0.36% of Benchmark Electronics worth $4,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Versant Capital Management Inc lifted its position 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 holdings in Benchmark Electronics by 213.4% during the fourth quarter. State of Wyoming now owns 3,563 shares of the technology company's stock valued at $162,000 after purchasing an additional 2,426 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Benchmark Electronics by 94.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,693 shares of the technology company's stock valued at $213,000 after purchasing an additional 2,278 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Benchmark Electronics by 10.7% in the fourth quarter. Bank of Montreal Can now owns 5,100 shares of the technology company's stock worth $232,000 after purchasing an additional 495 shares during the period. Finally, Bayesian Capital Management LP purchased a new stake in shares of Benchmark Electronics in the fourth quarter worth $252,000. Institutional investors own 92.29% of the company's stock.

Benchmark Electronics Price Performance

Benchmark Electronics stock traded down $1.02 during midday trading on Wednesday, reaching $39.17. 269,973 shares of the stock traded hands, compared to its average volume of 182,690. The stock has a market cap of $1.41 billion, a P/E ratio of 27.01 and a beta of 0.95. The stock's fifty day moving average is $38.44 and its 200-day moving average is $39.07. The company has a quick ratio of 1.48, a current ratio of 2.37 and a debt-to-equity ratio of 0.24. Benchmark Electronics, Inc. has a 12 month low of $30.73 and a 12 month high of $52.57.

Benchmark Electronics (NYSE:BHE - Get Free Report) last posted its earnings results on Tuesday, April 29th. The technology company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.02. The firm had revenue of $631.76 million during the quarter, compared to the consensus estimate of $640.00 million. Benchmark Electronics had a return on equity of 6.37% and a net margin of 2.03%. The company's quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 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. The ex-dividend date was Monday, June 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.74%. Benchmark Electronics's dividend payout ratio (DPR) is presently 46.90%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BHE shares. 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 dropped their price target on Benchmark Electronics from $52.00 to $46.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, Needham & Company LLC reduced their price objective on shares of Benchmark Electronics from $50.00 to $48.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th.

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.