Arrowstreet Capital Limited Partnership lowered its position in Benchmark Electronics, Inc. (NYSE:BHE) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 614,936 shares of the technology company’s stock after selling 32,500 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.23% of Benchmark Electronics worth $19,862,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in BHE. UBS Asset Management Americas Inc. grew its stake in Benchmark Electronics by 12.0% in the first quarter. UBS Asset Management Americas Inc. now owns 31,910 shares of the technology company’s stock worth $1,015,000 after purchasing an additional 3,429 shares in the last quarter. Karp Capital Management Corp bought a new position in Benchmark Electronics in the first quarter worth approximately $700,000. Sei Investments Co. grew its stake in Benchmark Electronics by 187.9% in the first quarter. Sei Investments Co. now owns 22,562 shares of the technology company’s stock worth $717,000 after purchasing an additional 14,725 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in Benchmark Electronics in the first quarter worth approximately $129,000. Finally, Mason Street Advisors LLC grew its stake in Benchmark Electronics by 8.7% in the first quarter. Mason Street Advisors LLC now owns 11,605 shares of the technology company’s stock worth $369,000 after purchasing an additional 924 shares in the last quarter. 94.98% of the stock is currently owned by institutional investors.
In related news, Director Douglas G. Duncan sold 5,922 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $31.91, for a total transaction of $188,971.02. Following the completion of the transaction, 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 accessible through the SEC website. Also, VP Scott R. Peterson sold 1,000 shares of the business’s stock in a transaction 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 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 quarter, insiders have sold 68,494 shares of company stock valued at $2,289,850. Insiders own 0.90% of the company’s stock.
Benchmark Electronics (NYSE:BHE) last posted its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.04. The business had revenue of $616.90 million during the quarter, compared to the consensus estimate of $577.00 million. Benchmark Electronics had a net margin of 2.84% and a return on equity of 5.59%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 earnings per share. On average, equities research analysts expect that Benchmark Electronics, Inc. will post $1.49 EPS for the current fiscal year.
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Several brokerages recently issued reports on BHE. Needham & Company LLC increased their price objective 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 cut Benchmark Electronics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Royal Bank Of Canada increased their target price on Benchmark Electronics from $33.00 to $37.00 and gave the company a “sector perform” rating in a research report on Thursday, July 20th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $36.00 target price (up previously from $32.00) on shares of Benchmark Electronics in a research report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Benchmark Electronics currently has an average rating of “Hold” and a consensus target price of $33.25.
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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