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

Benchmark Electronics, Inc. (NYSE:BHE) saw a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 1,110,000 shares, a growth of 19.7% from the October 31st total of 927,100 shares. Approximately 3.2% of the company’s shares are sold short. Based on an average daily volume of 251,100 shares, the days-to-cover ratio is currently 4.4 days.

Benchmark Electronics Stock Performance

NYSE:BHE opened at $49.48 on Tuesday. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 28.77 and a beta of 0.97. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.36 and a quick ratio of 1.45. Benchmark Electronics has a 1-year low of $24.93 and a 1-year high of $52.57. The firm’s fifty day moving average price is $45.91 and its 200 day moving average price is $42.99.

Benchmark Electronics (NYSE:BHE) last released its earnings results on Wednesday, October 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. Benchmark Electronics had a return on equity of 6.81% and a net margin of 2.32%. The company had revenue of $658.00 million for the quarter, compared to analysts’ expectations of $650.00 million. During the same quarter in the previous year, the firm posted $0.57 EPS. The firm’s quarterly revenue was down 8.6% on a year-over-year basis.

Benchmark Electronics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Benchmark Electronics’s previous quarterly dividend of $0.17. Benchmark Electronics’s dividend payout ratio (DPR) is currently 39.53%.

Insider Buying and Selling at Benchmark Electronics

In other 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 sale, the chief executive officer now owns 424,173 shares of the company’s stock, valued at approximately $19,469,540.70. This represents a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rhonda R. Turner sold 6,000 shares of the firm’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 transaction, the senior vice president now directly owns 47,991 shares of the company’s stock, valued at $2,254,617.18. This represents a 11.11 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Benchmark Electronics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. boosted its position in Benchmark Electronics by 65.7% during the second quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock worth $27,000 after purchasing an additional 272 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Benchmark Electronics during the 2nd quarter worth $41,000. CWM LLC boosted its position in shares of Benchmark Electronics by 81.9% in the 2nd quarter. CWM LLC now owns 1,106 shares of the technology company’s stock worth $44,000 after buying an additional 498 shares in the last quarter. Quarry LP grew its stake in Benchmark Electronics by 172.5% in 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 last quarter. Finally, Innealta Capital LLC purchased a new position in Benchmark Electronics during the 2nd quarter valued at about $61,000. Institutional investors and hedge funds own 92.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BHE shares. StockNews.com raised shares of Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Tuesday, November 26th. Needham & Company LLC increased their price objective on Benchmark Electronics from $45.00 to $48.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.33.

About Benchmark Electronics

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.