Benchmark Electronics (NYSE:BHE) Stock Rating Lowered by Wall Street Zen

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.

Wall Street Zen lowered shares of Benchmark Electronics (NYSE:BHE - Free Report) from a buy rating to a hold rating in a research report report published on Saturday morning.

Other equities analysts have also recently issued research reports about the stock. 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. Needham & Company LLC reduced their price target on shares of Benchmark Electronics from $50.00 to $48.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th.

Benchmark Electronics Price Performance

Benchmark Electronics stock traded down $0.37 during mid-day trading on Friday, hitting $39.23. 103,197 shares of the company traded hands, compared to its average volume of 326,886. Benchmark Electronics has a one year low of $30.73 and a one year high of $52.57. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 37.38 and a beta of 0.99. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.46 and a current ratio of 2.36. The stock has a fifty day moving average price of $38.65 and a 200-day moving average price of $38.78.

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

Benchmark Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Monday, June 30th were given 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 payout ratio is presently 64.76%.

Institutional Trading of Benchmark Electronics

Several large investors have recently bought and sold shares of BHE. Jennison Associates LLC lifted its stake in shares of Benchmark Electronics by 1.0% in the 2nd quarter. Jennison Associates LLC now owns 36,429 shares of the technology company's stock valued at $1,415,000 after purchasing an additional 346 shares during the period. Mariner LLC grew its holdings in shares of Benchmark Electronics by 2.4% in the fourth quarter. Mariner LLC now owns 14,846 shares of the technology company's stock valued at $676,000 after purchasing an additional 353 shares during the period. Martingale Asset Management L P boosted its stake in Benchmark Electronics by 0.5% during the fourth quarter. Martingale Asset Management L P now owns 73,047 shares of the technology company's stock worth $3,316,000 after buying an additional 356 shares during the period. Uncommon Cents Investing LLC boosted its stake in Benchmark Electronics by 2.7% during the second quarter. Uncommon Cents Investing LLC now owns 16,380 shares of the technology company's stock worth $636,000 after buying an additional 437 shares during the period. Finally, Bank of Montreal Can lifted its position in shares of Benchmark Electronics by 10.7% during 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 in the last quarter. Hedge funds and other institutional investors own 92.29% of the company's stock.

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.