Benchmark Electronics (NYSE:BHE) Price Target Lowered to $48.00 at Needham & Company LLC

Benchmark Electronics (NYSE:BHE - Get Free Report) had its price target decreased by investment analysts at Needham & Company LLC from $50.00 to $48.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. Needham & Company LLC's price target points to a potential upside of 36.95% from the stock's previous close.

Separately, StockNews.com raised Benchmark Electronics from a "hold" rating to a "buy" rating in a report on Tuesday, January 7th.

Benchmark Electronics Stock Performance

Shares of NYSE:BHE traded up $0.19 on Wednesday, reaching $35.05. The company's stock had a trading volume of 129,798 shares, compared to its average volume of 329,734. The stock's 50-day moving average is $37.41 and its two-hundred day moving average is $42.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.32 and a quick ratio of 1.46. The stock has a market capitalization of $1.26 billion, a P/E ratio of 20.26 and a beta of 0.83. Benchmark Electronics has a 52-week low of $30.73 and a 52-week high of $52.57.

Benchmark Electronics (NYSE:BHE - Get Free Report) last released its earnings results on Tuesday, April 29th. The technology company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. The company had revenue of $631.76 million during the quarter, compared to analysts' expectations of $640.00 million. Benchmark Electronics had a net margin of 2.38% and a return on equity of 6.68%. The business's revenue was down 6.5% on a year-over-year basis. During the same quarter last year, the business earned $0.55 EPS.

Insider Buying and Selling

In other news, CEO Jeff Benck sold 6,000 shares of Benchmark Electronics stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $38.82, for a total transaction of $232,920.00. Following the completion of the transaction, the chief executive officer now owns 448,180 shares of the company's stock, valued at $17,398,347.60. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Benchmark Electronics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in Benchmark Electronics in the 4th quarter valued at about $4,145,000. Proficio Capital Partners LLC purchased a new position in shares of Benchmark Electronics during the fourth quarter valued at approximately $868,000. Barclays PLC boosted its position in Benchmark Electronics by 128.8% during the third quarter. Barclays PLC now owns 86,024 shares of the technology company's stock worth $3,814,000 after acquiring an additional 48,425 shares during the last quarter. Principal Financial Group Inc. grew its stake in Benchmark Electronics by 3.7% in the 3rd quarter. Principal Financial Group Inc. now owns 184,332 shares of the technology company's stock worth $8,170,000 after acquiring an additional 6,561 shares during the period. Finally, Swiss National Bank raised its holdings in Benchmark Electronics by 1.0% in the 4th quarter. Swiss National Bank now owns 71,000 shares of the technology company's stock valued at $3,223,000 after acquiring an additional 700 shares during the last quarter. Institutional investors and hedge funds own 92.29% of the company's stock.

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.