Needham & Company LLC Boosts Benchmark Electronics (NYSE:BHE) Price Target to $50.00

Benchmark Electronics (NYSE:BHE) had its price target lifted by investment analysts at Needham & Company LLC from $48.00 to $50.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 17.07% from the company’s previous close.

Separately, StockNews.com raised Benchmark Electronics from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Benchmark Electronics Stock Performance

BHE opened at $42.71 on Thursday. Benchmark Electronics has a twelve month low of $27.04 and a twelve month high of $52.57. The firm has a market capitalization of $1.54 billion, a PE ratio of 24.69 and a beta of 1.00. The company has a current ratio of 2.36, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. The firm’s 50-day moving average price is $46.84 and its 200 day moving average price is $44.74.

Benchmark Electronics (NYSE:BHE) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Benchmark Electronics had a return on equity of 6.71% and a net margin of 2.38%.

Insider Buying and Selling

In other Benchmark Electronics news, CEO Jeff Benck sold 24,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $45.90, for a total transaction of $1,101,600.00. Following the completion of the transaction, the chief executive officer now owns 424,173 shares of the company’s stock, valued at $19,469,540.70. This trade represents a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Rhonda R. Turner sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $46.98, for a total transaction of $281,880.00. Following the completion of the sale, the senior vice president now directly owns 47,991 shares in the company, valued at $2,254,617.18. This trade represents a 11.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,000 shares of company stock worth $1,655,340. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Benchmark Electronics

Institutional investors have recently modified their holdings of the company. Quarry LP boosted its holdings in Benchmark Electronics by 172.5% during the 2nd quarter. Quarry LP now owns 1,379 shares of the technology company’s stock valued at $54,000 after acquiring an additional 873 shares during the period. KBC Group NV increased its stake in Benchmark Electronics by 125.3% during the third quarter. KBC Group NV now owns 1,534 shares of the technology company’s stock worth $68,000 after purchasing an additional 853 shares during the period. CWM LLC lifted its position in shares of Benchmark Electronics by 54.2% during the third quarter. CWM LLC now owns 1,706 shares of the technology company’s stock worth $76,000 after purchasing an additional 600 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Benchmark Electronics by 161.3% in the third quarter. GAMMA Investing LLC now owns 2,255 shares of the technology company’s stock valued at $100,000 after purchasing an additional 1,392 shares during the period. Finally, Highland Capital Management LLC acquired a new position in shares of Benchmark Electronics in the third quarter valued at approximately $234,000. 92.29% of the stock is owned by institutional investors and hedge funds.

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.