Benchmark Electronics, Inc. (BHE) Position Raised by Bank of America Corp DE
Bank of America Corp DE increased its position in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 114.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,215 shares of the technology company’s stock after buying an additional 43,941 shares during the period. Bank of America Corp DE’s holdings in Benchmark Electronics were worth $2,614,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its stake in Benchmark Electronics by 9.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 523,185 shares of the technology company’s stock worth $16,638,000 after buying an additional 43,481 shares in the last quarter. Lucus Advisors LLC bought a new stake in Benchmark Electronics during the first quarter worth approximately $407,000. KCG Holdings Inc. bought a new stake in Benchmark Electronics during the first quarter worth approximately $615,000. BlackRock Inc. increased its stake in Benchmark Electronics by 43,795.9% in the first quarter. BlackRock Inc. now owns 6,102,845 shares of the technology company’s stock worth $194,070,000 after buying an additional 6,088,942 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in Benchmark Electronics during the first quarter worth approximately $207,000. Institutional investors and hedge funds own 97.32% of the company’s stock.
Shares of Benchmark Electronics, Inc. (NYSE:BHE) traded down 0.535% during midday trading on Wednesday, hitting $32.525. The company’s stock had a trading volume of 34,456 shares. Benchmark Electronics, Inc. has a 1-year low of $23.22 and a 1-year high of $35.25. The company has a market cap of $1.62 billion, a P/E ratio of 23.915 and a beta of 0.51. The company has a 50-day moving average price of $33.23 and a 200 day moving average price of $32.11.
Benchmark Electronics (NYSE:BHE) last issued its earnings results on Wednesday, July 19th. The technology company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The business had revenue of $616.90 million during the quarter, compared to analyst estimates of $577 million. Benchmark Electronics had a return on equity of 5.59% and a net margin of 2.84%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 EPS. On average, equities research analysts predict that Benchmark Electronics, Inc. will post $1.49 EPS for the current year.
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A number of research firms recently commented on BHE. BidaskClub downgraded Benchmark Electronics from a “hold” rating to a “sell” rating in a report on Tuesday. Citigroup Inc. reiterated a “neutral” rating and issued a $36.00 price objective (up previously from $32.00) on shares of Benchmark Electronics in a report on Friday, July 21st. Royal Bank Of Canada increased their price target on Benchmark Electronics from $33.00 to $37.00 and gave the stock a “sector perform” rating in a report on Thursday, July 20th. Finally, Needham & Company LLC increased their price target on Benchmark Electronics from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $33.25.
In other Benchmark Electronics news, CFO Donald Francis Adam sold 61,572 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $33.60, for a total transaction of $2,068,819.20. Following the completion of the sale, the chief financial officer now directly owns 112,856 shares of the company’s stock, valued at approximately $3,791,961.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.
About Benchmark Electronics
Benchmark Electronics, Inc is a provider of electronic manufacturing services. The Company operates through three segments: the Americas, Asia and Europe. It provides services to original equipment manufacturers of industrial control equipment, including equipment for the aerospace and defense industry; telecommunication equipment; computers and related products for business enterprises; medical devices, and testing and instrumentation products.
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