Wall Street Zen Downgrades Benchmark Electronics (NYSE:BHE) to Hold

Key Points

• Benchmark Electronics was downgraded by Wall Street Zen from a "buy" to a "hold" rating, signaling a potential reevaluation of the stock's performance.
• Lake Street Capital and Needham & Company also adjusted their target prices, lowering them to $46.00 and $48.00, respectively, while maintaining a "buy" rating on the stock.
• The stock opened at $37.75 and has a market cap of $1.36 billion, with a 12-month trading range between $30.73 and $52.57.

Benchmark Electronics (NYSE:BHE - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

Several other equities research analysts have also recently issued reports on the stock. Lake Street Capital lowered 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 note on Wednesday, April 30th. Needham & Company LLC decreased their price target on shares of Benchmark Electronics from $50.00 to $48.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th.

Benchmark Electronics Trading Down 2.0%

BHE stock opened at $37.75 on Friday. Benchmark Electronics has a 12-month low of $30.73 and a 12-month high of $52.57. The business's 50-day moving average is $38.58 and its 200 day moving average is $38.96. The company has a current ratio of 2.36, a quick ratio of 1.48 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 35.95 and a beta of 0.95.

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

Hedge Funds Weigh In On Benchmark Electronics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BHE. New Age Alpha Advisors LLC acquired a new stake in shares of Benchmark Electronics in the 1st quarter worth $56,000. Versant Capital Management Inc increased its position in Benchmark Electronics by 197.5% during the first quarter. Versant Capital Management Inc now owns 2,475 shares of the technology company's stock worth $94,000 after purchasing an additional 1,643 shares during the last quarter. State of Wyoming increased its position in Benchmark Electronics by 213.4% during the fourth quarter. State of Wyoming now owns 3,563 shares of the technology company's stock worth $162,000 after purchasing an additional 2,426 shares during the last quarter. GAMMA Investing LLC raised its stake in Benchmark Electronics by 58.3% during the second quarter. GAMMA Investing LLC now owns 3,609 shares of the technology company's stock worth $140,000 after purchasing an additional 1,329 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in Benchmark Electronics by 94.3% in the 4th 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 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.

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