State Board of Administration of Florida Retirement System Has $1,752,000 Stake in Benchmark Electronics, Inc. (BHE)
State Board of Administration of Florida Retirement System continued to hold its position in shares of Benchmark Electronics, Inc. (NYSE:BHE) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,235 shares of the technology company’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned approximately 0.11% of Benchmark Electronics worth $1,752,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in shares of Benchmark Electronics by 36.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,388 shares of the technology company’s stock worth $108,000 after buying an additional 898 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Benchmark Electronics during the 1st quarter worth $129,000. CIBC Asset Management Inc acquired a new position in shares of Benchmark Electronics during the 2nd quarter worth $203,000. Citadel Advisors LLC acquired a new position in shares of Benchmark Electronics during the 1st quarter worth $207,000. Finally, Two Sigma Securities LLC acquired a new position in shares of Benchmark Electronics during the 1st quarter worth $232,000. 95.00% of the stock is owned by institutional investors and hedge funds.
In other news, Director Douglas G. Duncan sold 5,922 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $31.91, for a total value of $188,971.02. Following the completion of the sale, the director now owns 30,524 shares in the company, valued at $974,020.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Scott R. Peterson sold 1,000 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $32.06, for a total value of $32,060.00. Following the completion of the sale, 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. Insiders own 0.90% of the company’s stock.
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Shares of Benchmark Electronics, Inc. (NYSE BHE) opened at 32.40 on Thursday. The company’s 50-day moving average price is $32.45 and its 200-day moving average price is $32.28. The stock has a market cap of $1.62 billion, a PE ratio of 23.82 and a beta of 0.52. Benchmark Electronics, Inc. has a 52-week low of $23.68 and a 52-week high of $35.25.
Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.04. The business had revenue of $616.90 million during the quarter, compared to analyst estimates of $577.00 million. Benchmark Electronics had a return on equity of 5.59% and a net margin of 2.84%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Analysts expect that Benchmark Electronics, Inc. will post $1.49 earnings per share for the current year.
Several research analysts have recently issued reports on the company. Needham & Company LLC lifted their price target on Benchmark Electronics from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. BidaskClub downgraded Benchmark Electronics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Royal Bank Of Canada lifted their price target on Benchmark Electronics from $33.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 20th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $36.00 price target (up previously from $32.00) on shares of Benchmark Electronics in a research note on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Benchmark Electronics has an average rating of “Hold” and an average target price of $33.25.
Benchmark Electronics Profile
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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