Benchmark Electronics, Inc. (NYSE:BHE) Short Interest Update

Benchmark Electronics, Inc. (NYSE:BHE) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 906,700 shares, an increase of 6.5% from the August 31st total of 851,100 shares. Based on an average daily trading volume, of 284,800 shares, the days-to-cover ratio is presently 3.2 days. Currently, 2.6% of the company’s stock are sold short.

Analysts Set New Price Targets

Several research firms have recently commented on BHE. Needham & Company LLC upped their price target on shares of Benchmark Electronics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. StockNews.com downgraded shares of Benchmark Electronics from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Lake Street Capital increased their price objective on Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Benchmark Electronics presently has an average rating of “Hold” and a consensus price target of $41.33.

Benchmark Electronics Stock Performance

NYSE:BHE opened at $43.06 on Wednesday. The company has a quick ratio of 1.42, a current ratio of 2.35 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $42.18 and a 200 day moving average price of $38.57. The firm has a market capitalization of $1.55 billion, a PE ratio of 23.51 and a beta of 0.98. Benchmark Electronics has a 12-month low of $22.66 and a 12-month high of $48.58.

Benchmark Electronics (NYSE:BHE) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.06. Benchmark Electronics had a net margin of 2.45% and a return on equity of 7.17%. The firm had revenue of $666.00 million during the quarter, compared to analysts’ expectations of $635.75 million. During the same quarter last year, the company posted $0.48 EPS. The company’s quarterly revenue was down 9.2% compared to the same quarter last year.

Benchmark Electronics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Monday, September 30th. This is a boost from Benchmark Electronics’s previous quarterly dividend of $0.17. Benchmark Electronics’s dividend payout ratio is 37.16%.

Insider Activity

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of Benchmark Electronics stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $42.70, for a total transaction of $302,017.10. Following the sale, the director now directly owns 42,027 shares of the company’s stock, valued at $1,794,552.90. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BHE. Vanguard Group Inc. raised its stake in Benchmark Electronics by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 4,845,204 shares of the technology company’s stock valued at $145,405,000 after acquiring an additional 159,716 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Benchmark Electronics by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,012,717 shares of the technology company’s stock worth $118,881,000 after buying an additional 12,112 shares during the last quarter. Pacer Advisors Inc. bought a new position in Benchmark Electronics in the 2nd quarter valued at approximately $70,424,000. First Trust Advisors LP grew its holdings in Benchmark Electronics by 36.9% during the 4th quarter. First Trust Advisors LP now owns 902,475 shares of the technology company’s stock worth $24,944,000 after acquiring an additional 243,480 shares during the last quarter. Finally, Tributary Capital Management LLC grew its stake in shares of Benchmark Electronics by 0.3% in the second quarter. Tributary Capital Management LLC now owns 646,142 shares of the technology company’s stock worth $25,497,000 after purchasing an additional 1,875 shares during the last quarter. 92.29% of the stock is currently owned by institutional investors.

Benchmark Electronics Company Profile

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.