The ClariVest Asset Management LLC cuts position of Benchmark Electronics Inc. (BHE)

The ClariVest Asset Management LLC cuts position of Benchmark Electronics Inc. (BHE)

ClariVest Asset Management LLC lowered its stake in Benchmark Electronics Inc. (NYSE:BHE) by 65.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,400 shares of the company’s stock after selling 138,978 shares during the period. ClariVest Asset Management LLC’s holdings in Benchmark Electronics were worth $1,531,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in BHE. Strs Ohio raised its position in Benchmark Electronics by 3.0% in the second quarter. Strs Ohio now owns 41,600 shares of the company’s stock valued at $879,000 after buying an additional 1,200 shares during the period. Eqis Capital Management Inc. raised its position in Benchmark Electronics by 12.6% in the second quarter. Eqis Capital Management Inc. now owns 12,366 shares of the company’s stock valued at $262,000 after buying an additional 1,383 shares during the period. Ngam Advisors L.P. raised its position in Benchmark Electronics by 8.4% in the first quarter. Ngam Advisors L.P. now owns 19,079 shares of the company’s stock valued at $440,000 after buying an additional 1,472 shares during the period. BlackRock Inc. raised its position in Benchmark Electronics by 24.7% in the first quarter. BlackRock Inc. now owns 8,263 shares of the company’s stock valued at $190,000 after buying an additional 1,636 shares during the period. Finally, New York State Teachers Retirement System raised its position in Benchmark Electronics by 1.0% in the second quarter. New York State Teachers Retirement System now owns 187,113 shares of the company’s stock valued at $3,957,000 after buying an additional 1,800 shares during the period. 96.17% of the stock is currently owned by hedge funds and other institutional investors.

Benchmark Electronics Inc. (NYSE:BHE) traded down 1.07% during midday trading on Thursday, reaching $24.92. The company’s stock had a trading volume of 174,028 shares. The firm has a market capitalization of $1.22 billion, a PE ratio of 15.14 and a beta of 0.72. Benchmark Electronics Inc. has a 52 week low of $18.36 and a 52 week high of $25.74. The stock has a 50 day moving average of $24.59 and a 200 day moving average of $22.47.

Benchmark Electronics (NYSE:BHE) last issued its earnings results on Thursday, July 21st. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by $0.01. Benchmark Electronics had a return on equity of 5.52% and a net margin of 3.51%. The firm earned $579 million during the quarter, compared to analyst estimates of $582.89 million. During the same period in the previous year, the company earned $0.42 earnings per share. The business’s revenue for the quarter was down 12.8% on a year-over-year basis. On average, equities research analysts predict that Benchmark Electronics Inc. will post $1.34 earnings per share for the current fiscal year.

Several equities analysts recently commented on the company. B. Riley reissued a “neutral” rating and set a $23.00 price target on shares of Benchmark Electronics in a research report on Monday, July 25th. Needham & Company LLC boosted their price target on Benchmark Electronics from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, July 22nd. Zacks Investment Research lowered Benchmark Electronics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 21st. Finally, TheStreet raised Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Monday, July 25th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $24.00.

In other news, CEO Gayla J. Delly sold 25,497 shares of the company’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $24.22, for a total transaction of $617,537.34. Following the completion of the sale, the chief executive officer now owns 276,264 shares in the company, valued at approximately $6,691,114.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Donald Francis Adam sold 40,000 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $23.46, for a total value of $938,400.00. Following the sale, the chief financial officer now owns 126,513 shares of the company’s stock, valued at approximately $2,967,994.98. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.

Benchmark Electronics Company Profile

Benchmark Electronics, Inc is a provider of integrated electronic manufacturing services. The Company provides services to original equipment manufacturers 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.

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