Benchmark Electronics (NYSE:BHE) Lowered to "Equal Weight" at Fox Advisors

Fox Advisors downgraded shares of Benchmark Electronics (NYSE:BHE - Free Report) from an overweight rating to an equal weight rating in a report issued on Wednesday morning, MarketBeat reports.

A number of other equities research analysts have also recently commented on BHE. Needham & Company LLC increased their price objective on shares of Benchmark Electronics from $31.00 to $40.00 and gave the company a buy rating in a research note on Monday, May 6th. Sidoti cut shares of Benchmark Electronics from a buy rating to a neutral rating and set a $33.00 price objective on the stock. in a research note on Monday, April 29th. Finally, StockNews.com raised shares of Benchmark Electronics from a hold rating to a buy rating in a research note on Friday, May 3rd.

Benchmark Electronics Price Performance

Shares of BHE traded down $0.09 during trading hours on Wednesday, reaching $41.01. The company had a trading volume of 352,356 shares, compared to its average volume of 304,053. The firm has a 50 day simple moving average of $31.57 and a 200-day simple moving average of $28.71. The company has a current ratio of 2.36, a quick ratio of 1.41 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 22.36 and a beta of 1.00. Benchmark Electronics has a 12-month low of $21.16 and a 12-month high of $41.40.

Benchmark Electronics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.66 annualized dividend and a dividend yield of 1.61%. Benchmark Electronics's dividend payout ratio is currently 36.07%.

Insiders Place Their Bets

In other Benchmark Electronics news, Director Jeffrey Stephen Mccreary sold 10,000 shares of the firm's stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $39.49, for a total transaction of $394,900.00. Following the sale, the director now directly owns 45,062 shares of the company's stock, valued at approximately $1,779,498.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Jeffrey Stephen Mccreary sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $39.49, for a total value of $394,900.00. Following the sale, the director now directly owns 45,062 shares of the company's stock, valued at $1,779,498.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Arvind Kamal sold 783 shares of the firm's stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $38.38, for a total transaction of $30,051.54. Following the completion of the sale, the chief financial officer now directly owns 20,735 shares in the company, valued at $795,809.30. The disclosure for this sale can be found here. Insiders have sold 17,560 shares of company stock valued at $688,374 in the last ninety days. Insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Benchmark Electronics

Hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Benchmark Electronics by 39.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,194 shares of the technology company's stock valued at $223,000 after buying an additional 2,607 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Benchmark Electronics by 4.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,810 shares of the technology company's stock valued at $384,000 after buying an additional 739 shares during the period. Illinois Municipal Retirement Fund purchased a new position in Benchmark Electronics in the third quarter valued at approximately $522,000. Barclays PLC raised its holdings in Benchmark Electronics by 10.7% in the third quarter. Barclays PLC now owns 61,398 shares of the technology company's stock valued at $1,491,000 after buying an additional 5,912 shares during the period. Finally, New York State Common Retirement Fund raised its holdings in Benchmark Electronics by 16.2% in the third quarter. New York State Common Retirement Fund now owns 29,459 shares of the technology company's stock valued at $715,000 after buying an additional 4,115 shares during the period. 92.29% of the stock is owned by institutional investors and hedge funds.

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.