The stock of Benchmark Electronics, Inc. (NYSE:BHE) hit a new 52-week high and has $32.14 target or 28.00% above today’s $25.11 share price. The 7 months bullish chart indicates low risk for the $1.25 billion company. The 1-year high was reported on Oct, 7 by Barchart.com. If the $32.14 price target is reached, the company will be worth $350.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 95,801 shares traded hands. Benchmark Electronics, Inc. (NYSE:BHE) has risen 16.35% since March 4, 2016 and is uptrending. It has outperformed by 8.32% the S&P500.
Analysts await Benchmark Electronics, Inc. (NYSE:BHE) to report earnings on October, 20 before the open. They expect $0.36 EPS, down 12.20% or $0.05 from last year’s $0.41 per share. BHE’s profit will be $17.92 million for 17.44 P/E if the $0.36 EPS becomes a reality. After $0.31 actual EPS reported by Benchmark Electronics, Inc. for the previous quarter, Wall Street now forecasts 16.13% EPS growth.
Benchmark Electronics, Inc. (NYSE:BHE) Ratings Coverage
Out of 4 analysts covering Benchmark Electronics (NYSE:BHE), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. $70 is the highest target while $20 is the lowest. The $31.33 average target is 24.77% above today’s ($25.11) stock price. Benchmark Electronics has been the topic of 8 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Needham maintained it with “Buy” rating and $24 target price in Friday, October 23 report. Raymond James upgraded the stock to “Outperform” rating in Friday, July 24 report. Berenberg initiated the stock with “Buy” rating in Friday, May 27 report. The stock of Benchmark Electronics, Inc. (NYSE:BHE) earned “Buy” rating by Needham on Friday, July 22. RBC Capital Markets maintained Benchmark Electronics, Inc. (NYSE:BHE) rating on Friday, October 23. RBC Capital Markets has “Sector Perform” rating and $20 price target.
According to Zacks Investment Research, “Benchmark Electronics, Inc. provides contract electronics manufacturing and design services to original equipment manufacturers in select industries, including medical devices, communications equipment, industrial and business computers, testing instrumentation and industrial controls. They specializes in manufacturing high quality, technologically complex printed circuit board assemblies with computer-automated equipment using surface mount and pin-through-hole interconnection technologies for customers requiring low to medium volume production runs.”
Insitutional Activity: The institutional sentiment decreased to 0.79 in Q2 2016. Its down 0.19, from 0.98 in 2016Q1. The ratio fall, as 26 funds sold all Benchmark Electronics, Inc. shares owned while 63 reduced positions. 15 funds bought stakes while 55 increased positions. They now own 43.75 million shares or 14.21% less from 51.00 million shares in 2016Q1.
Deere And Com has 0.02% invested in the company for 21,096 shares. Gemmer Asset Limited Com holds 312 shares or 0% of its portfolio. Moreover, Nationwide Fund Advisors has 0.02% invested in Benchmark Electronics, Inc. (NYSE:BHE) for 188,331 shares. Research holds 0% or 621,500 shares in its portfolio. Citigroup last reported 0% of its portfolio in the stock. Financial Bank Of Montreal Can holds 0% of its portfolio in Benchmark Electronics, Inc. (NYSE:BHE) for 135,498 shares. The New York-based Pinebridge Invs L P has invested 0.01% in Benchmark Electronics, Inc. (NYSE:BHE). Oxford Asset holds 130,365 shares or 0.12% of its portfolio. Blackrock Mngmt Ltd Limited Liability Company, a New Jersey-based fund reported 228,739 shares. Eqis Cap Management Inc accumulated 0.02% or 12,366 shares. D E Shaw last reported 0.01% of its portfolio in the stock. Carlson Lp last reported 278,908 shares in the company. Capstone Asset Management has 0.02% invested in the company for 26,294 shares. Huntington Bancorp has 750 shares for 0% of their US portfolio. Smith Graham & Investment L P last reported 303,188 shares in the company.
Insider Transactions: Since July 28, 2016, the stock had 0 insider purchases, and 3 insider sales for $1.86 million net activity. 12,774 Benchmark Electronics, Inc. (NYSE:BHE) shares with value of $301,132 were sold by King Jon J. DELLY GAYLA J had sold 25,497 shares worth $617,527. 40,000 shares were sold by Adam Donald Francis, worth $938,524.
More notable recent Benchmark Electronics, Inc. (NYSE:BHE) news were published by: Bloomberg.com which released: “Benchmark Electronics’ Activist Engaged Wins Two Board Seats” on May 11, 2016, also Prnewswire.com with their article: “Benchmark Electronics Appoints Paul Tufano As President & CEO” published on September 16, 2016, Prnewswire.com published: “Benchmark Electronics Completes Secure Technology Transaction” on November 12, 2015. More interesting news about Benchmark Electronics, Inc. (NYSE:BHE) were released by: Prnewswire.com and their article: “Benchmark Electronics To Acquire Secure Technology” published on October 22, 2015 as well as Prnewswire.com‘s news article titled: “Benchmark Electronics Comments on Engaged Capital Director Nominee Slate” with publication date: February 25, 2016.
BHE Company Profile
Benchmark Electronics, Inc. (Benchmark), incorporated on October 21, 1981, is a well-known provider of integrated electronic manufacturing services. The Firm provides its services to original equipment manufacturers (OEMs) 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. The Firm has three operating divisions: the Americas, Asia and Europe. The Firm offers integrated design and manufacturing services, from initial product design to volume production, including direct order fulfillment and post-deployment services. The Company’s activities consist of over three principal areas: manufacturing and assembly operations, which include printed circuit boards assemblies (PCBAs) and subsystem assembly, box build and systems integration; precision technology manufacturing, which include precision machining, metal joining, assembly and functional testing for industries, including medical, aerospace, and test and instrumentation markets, and specialized engineering services, which include product design, printed circuit board layout, prototyping, automation and test development. Benchmark’s facilities include over 1.4 million square feet in its domestic facilities in Alabama, Arizona, California, Minnesota, New Hampshire, North Dakota and Texas, and approximately 2.3 million square feet in the Company’s international facilities in China, Malaysia, Mexico, the Netherlands, Romania and Thailand.
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