Benchmark Electronics, Inc. (BHE) Shares Sold by Prudential Financial Inc.
Prudential Financial Inc. lowered its stake in Benchmark Electronics, Inc. (NYSE:BHE) by 25.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 278,902 shares of the technology company’s stock after selling 95,030 shares during the period. Prudential Financial Inc. owned 0.56% of Benchmark Electronics worth $9,008,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in shares of Benchmark Electronics by 36.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,388 shares of the technology company’s stock worth $108,000 after purchasing an additional 898 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Benchmark Electronics in the 1st quarter worth about $129,000. CIBC Asset Management Inc bought a new stake in shares of Benchmark Electronics in the 2nd quarter worth about $203,000. Citadel Advisors LLC bought a new stake in shares of Benchmark Electronics in the 1st quarter worth about $207,000. Finally, Two Sigma Securities LLC bought a new stake in shares of Benchmark Electronics in the 1st quarter worth about $232,000. 95.00% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on BHE shares. Needham & Company LLC boosted their target price on shares of Benchmark Electronics from $34.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, July 18th. BidaskClub downgraded shares of Benchmark Electronics from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $36.00 price target (up from $32.00) on shares of Benchmark Electronics in a report on Friday, July 21st. Finally, Royal Bank Of Canada lifted their price target on shares of Benchmark Electronics from $33.00 to $37.00 and gave the company a “sector perform” rating in a report on Thursday, July 20th. Two equities 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 company’s stock. The company presently has an average rating of “Hold” and an average target price of $33.25.
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In other news, CFO Donald Francis Adam sold 61,572 shares of the stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $33.60, for a total value of $2,068,819.20. Following the completion of the transaction, the chief financial officer now owns 112,856 shares in the company, valued at approximately $3,791,961.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Scott R. Peterson sold 1,000 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $32.06, for a total transaction of $32,060.00. Following the completion of the transaction, the vice president now owns 18,893 shares of the company’s stock, valued at approximately $605,709.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,494 shares of company stock valued at $2,289,850. Corporate insiders own 0.90% of the company’s stock.
Benchmark Electronics, Inc. (BHE) opened at 32.40 on Thursday. Benchmark Electronics, Inc. has a 12-month low of $23.68 and a 12-month high of $35.25. The stock has a 50 day moving average of $32.45 and a 200 day moving average of $32.28. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 23.82 and a beta of 0.52.
Benchmark Electronics (NYSE:BHE) last released its earnings results on Wednesday, July 19th. The technology company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.04. The firm had revenue of $616.90 million during the quarter, compared to analysts’ expectations of $577.00 million. Benchmark Electronics had a net margin of 2.84% and a return on equity of 5.59%. During the same period in the prior year, the company earned $0.31 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts anticipate that Benchmark Electronics, Inc. will post $1.49 earnings per share for the current year.
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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