Raymond James & Associates Decreases Holdings in Benchmark Electronics (BHE)

Raymond James & Associates cut its stake in Benchmark Electronics (NYSE:BHE) by 12.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,375 shares of the technology company’s stock after selling 4,946 shares during the quarter. Raymond James & Associates owned about 0.07% of Benchmark Electronics worth $971,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. HBK Investments L P increased its stake in shares of Benchmark Electronics by 5.8% in the 4th quarter. HBK Investments L P now owns 53,900 shares of the technology company’s stock worth $1,568,000 after acquiring an additional 2,967 shares in the last quarter. Two Sigma Investments LP bought a new position in shares of Benchmark Electronics in the 4th quarter worth about $2,586,000. Two Sigma Advisers LP increased its stake in shares of Benchmark Electronics by 18.2% in the 4th quarter. Two Sigma Advisers LP now owns 127,421 shares of the technology company’s stock worth $3,708,000 after acquiring an additional 19,600 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Benchmark Electronics by 8.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 624,062 shares of the technology company’s stock worth $18,160,000 after acquiring an additional 50,937 shares in the last quarter. Finally, Stone Ridge Asset Management LLC bought a new position in shares of Benchmark Electronics in the 4th quarter worth about $1,159,000. Institutional investors own 97.98% of the company’s stock.

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Separately, TheStreet lowered shares of Benchmark Electronics from a “b-” rating to a “c” rating in a research note on Thursday, February 8th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. Benchmark Electronics currently has a consensus rating of “Hold” and an average target price of $36.67.

Shares of Benchmark Electronics stock opened at $30.70 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.38 and a quick ratio of 2.55. The stock has a market capitalization of $1,525.21, a P/E ratio of 19.07 and a beta of 0.38. Benchmark Electronics has a 1 year low of $27.05 and a 1 year high of $35.80.

Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.12. The company had revenue of $679.86 million during the quarter. Benchmark Electronics had a negative net margin of 1.30% and a positive return on equity of 5.83%.

Benchmark Electronics announced that its Board of Directors has approved a stock buyback plan on Wednesday, March 7th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 11th. Investors of record on Thursday, March 29th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, March 28th. This represents a $0.60 annualized dividend and a dividend yield of 1.95%. Benchmark Electronics’s payout ratio is 37.27%.

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About Benchmark Electronics

Benchmark Electronics, Inc, together with its subsidiaries, provides engineering services, integrated technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company offers engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing, and automation equipment design and build services.

Institutional Ownership by Quarter for Benchmark Electronics (NYSE:BHE)

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