Benchmark Electronics, Inc. (BHE) Shares Sold by Jennison Associates LLC
Jennison Associates LLC decreased its holdings in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 894,110 shares of the technology company’s stock after selling 33,022 shares during the period. Jennison Associates LLC owned 1.79% of Benchmark Electronics worth $30,534,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. BlackRock Inc. boosted its holdings 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 acquiring an additional 6,088,942 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Benchmark Electronics by 5.4% in the first quarter. Vanguard Group Inc. now owns 4,528,732 shares of the technology company’s stock worth $144,013,000 after purchasing an additional 233,703 shares during the last quarter. Hancock Holding Co. purchased a new stake in shares of Benchmark Electronics in the second quarter worth approximately $7,210,000. JPMorgan Chase & Co. raised its stake in shares of Benchmark Electronics by 8.2% in the second quarter. JPMorgan Chase & Co. now owns 2,656,154 shares of the technology company’s stock worth $85,795,000 after purchasing an additional 201,945 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Benchmark Electronics by 111.8% in the first quarter. Morgan Stanley now owns 375,217 shares of the technology company’s stock worth $11,932,000 after purchasing an additional 198,078 shares during the last quarter. Institutional investors own 95.33% of the company’s stock.
In related news, VP Scott R. Peterson sold 1,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $32.06, for a total transaction of $32,060.00. Following the completion of the sale, the vice president now directly owns 18,893 shares of the company’s stock, valued at $605,709.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.
Shares of Benchmark Electronics, Inc. (NYSE BHE) opened at $29.60 on Thursday. The company has a current ratio of 3.60, a quick ratio of 2.66 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $1,489.20, a P/E ratio of 19.20 and a beta of 0.50. Benchmark Electronics, Inc. has a 52-week low of $26.95 and a 52-week high of $35.80.
Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings results on Wednesday, October 18th. The technology company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.05. The company had revenue of $604.00 million during the quarter, compared to the consensus estimate of $584.50 million. Benchmark Electronics had a return on equity of 5.62% and a net margin of 2.63%. Benchmark Electronics’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the business posted $0.36 earnings per share.
Several analysts have recently commented on BHE shares. Citigroup Inc. reissued a “neutral” rating and issued a $36.00 price objective (up from $32.00) on shares of Benchmark Electronics in a research note on Friday, July 21st. Royal Bank Of Canada increased their price objective 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. BidaskClub downgraded Benchmark Electronics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. TheStreet downgraded Benchmark Electronics from a “b” rating to a “c+” rating in a research note on Monday. Finally, Needham & Company LLC downgraded Benchmark Electronics from a “buy” rating to a “hold” rating in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Benchmark Electronics has a consensus rating of “Hold” and an average price target of $36.67.
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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