First Eagle Investment Management LLC Trims Stake in Benchmark Electronics, Inc. (NYSE:BHE)

First Eagle Investment Management LLC lessened its stake in Benchmark Electronics, Inc. (NYSE:BHE) by 17.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 239,279 shares of the technology company’s stock after selling 51,400 shares during the period. First Eagle Investment Management LLC owned 0.66% of Benchmark Electronics worth $10,863,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its stake in Benchmark Electronics by 8.9% in the 3rd quarter. Pacer Advisors Inc. now owns 1,944,347 shares of the technology company’s stock worth $86,173,000 after buying an additional 159,659 shares during the period. Franklin Resources Inc. increased its stake in Benchmark Electronics by 0.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,897,568 shares of the technology company’s stock worth $84,081,000 after buying an additional 11,738 shares during the period. Geode Capital Management LLC increased its stake in Benchmark Electronics by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 841,602 shares of the technology company’s stock worth $37,307,000 after buying an additional 21,355 shares during the period. Wasatch Advisors LP increased its stake in Benchmark Electronics by 19.5% in the 3rd quarter. Wasatch Advisors LP now owns 820,493 shares of the technology company’s stock worth $36,364,000 after buying an additional 133,602 shares during the period. Finally, Wellington Management Group LLP increased its stake in Benchmark Electronics by 34.5% in the 3rd quarter. Wellington Management Group LLP now owns 428,181 shares of the technology company’s stock worth $18,977,000 after buying an additional 109,903 shares during the period. Hedge funds and other institutional investors own 92.29% of the company’s stock.

Insider Activity

In other news, CEO Jeff Benck sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $38.82, for a total value of $232,920.00. Following the sale, the chief executive officer now directly owns 448,180 shares in the company, valued at approximately $17,398,347.60. This trade represents a 1.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

BHE has been the topic of several recent analyst reports. StockNews.com raised shares of Benchmark Electronics from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Needham & Company LLC raised their target price on shares of Benchmark Electronics from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Benchmark Electronics Trading Up 2.9 %

NYSE BHE opened at $39.32 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.46 and a current ratio of 2.32. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 22.73 and a beta of 0.97. The company’s 50-day simple moving average is $42.70 and its two-hundred day simple moving average is $44.43. Benchmark Electronics, Inc. has a one year low of $27.44 and a one year high of $52.57.

Benchmark Electronics (NYSE:BHE) last posted its earnings results on Wednesday, January 29th. The technology company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Benchmark Electronics had a net margin of 2.38% and a return on equity of 6.68%.

Benchmark Electronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Monday, March 31st. Benchmark Electronics’s dividend payout ratio is currently 39.31%.

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.