The Vanguard Group, Inc. recently announced the acquisition of new stake in Benchmark Electronics Inc. (NYSE:BHE). The institutional investor has increased its shareholding in the Technology company by 4.62% to 4.02 million shares with purchase of 0.18 million shares. This fresh investment now brings its stake to 11.42% valued currently at $107.22 million. In addition, Franklin Mutual Advisers LLC raised its holdings by 252.0 to 3.61 million shares. And SSgA Funds Management, Inc. has lifted its position by 0.49% or 6838.0 shares – to 1.41 million shares.
With over 94725.0 Benchmark Electronics Inc. (BHE) shares trading Tuesday and a closing price of $28.84 on the day, the dollar volume was approximately $2.73 million. The shares have shown a positive half year performance of 23.41% and its price on 01/24/23 gained nearly 0.95%. Currently, there are 35.15M common shares owned by the public and among those 34.61M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for BHE have a consensus price objective of $37.75. The analysts have set the share’s price value over the next 12 months at a high of $45.00 and a low of $34.00. The average price target is 22.58% above its recent price level and an upside to the estimated low will see the stock gain 15.18% over that period. But an upside of 35.91% will see the stock hit the forecast high price target while median target price for the stock is $36.00.
Insiders at the company have transacted a total of 35 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 16 of these insider trades were purchases, accounting for 210,978 shares. Insider sales of the common stock occurred on 19 occasions, with total insider shares sold totaling 120,054 shares.
The top 3 mutual fund holders in Benchmark Electronics Inc. are iShares Core S&P Small Cap ETF, Franklin Small Cap Value Fund, and Vanguard Total Stock Market Index. iShares Core S&P Small Cap ETF owns 2.6 million shares of the company’s stock, all valued at over $69.45 million. The company sold 1968.0 shares recently to bring their total holdings to about 7.40% of the shares outstanding. Franklin Small Cap Value Fund sold -0.23 million shares to see its total holdings shrink to 2.34 million shares valued at over $62.34 million and representing 6.64% of the shares outstanding. Vanguard Total Stock Market Index bought 11552.0 shares to bring its total holdings to over 1.05 million shares at a value of $28.0 million. Vanguard Total Stock Market Index now owns shares totaling to 2.98% of the shares outstanding.
Shares of Benchmark Electronics Inc. (NYSE: BHE) opened at $28.48, down -$0.09 from a prior closing price of $28.57. However, the script later moved the day high at 28.89, up 0.95%. The company’s stock has a 5-day price change of 1.05% and 4.27% over the past three months. BHE shares are trading 8.06% year to date (YTD), with the 12-month market performance up to 15.92% higher. It has a 12-month low price of $21.11 and touched a high of $30.00 over the same period. BHE has an average intraday trading volume of 165.60K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.23%, 2.67%, and 11.09% respectively.
Institutional ownership of Benchmark Electronics Inc. (NYSE: BHE) shares accounts for 99.00% of the company’s 35.15M shares outstanding. Mutual fund holders own 68.66%, while other institutional holders and individual stakeholders account for 7.92% and 26.48% respectively.
It has a market capitalization of $1.01B and a beta (3y monthly) value of 1.03. The stock’s trailing 12-month PE ratio is 17.19, while the earnings-per-share (ttm) stands at $1.68. The company has a PEG of 0.78 and a Quick Ratio of 1.10 with the debt-to-equity ratio at 0.30. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.16% over the week and 2.28% over the month.
Analysts forecast that Benchmark Electronics Inc. (BHE) will achieve an EPS of $0.57 for the current quarter, $0.51 for the next quarter and $2.24 for 2023. The lowest estimate earnings-per-share for the quarter is $0.53 while analysts give the company a high EPS estimate of $0.61. Comparatively, EPS for the current quarter was $0.48 a year ago. Earnings per share for the fiscal year are expected to increase by 159.50%, and 13.99% over the next financial year. EPS should grow at an annualized rate of 22.00% over the next five years, compared to -5.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Benchmark Electronics Inc. (BHE) as a “Strong Buy” at a consensus score of 1.70. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the BHE, a number of firms have released research notes about the stock. Fox Advisors stated their Overweight rating for the stock in a research note on August 24, 2022, with the firm’s price target at $35. Sidoti coverage for the Benchmark Electronics Inc. (BHE) stock in a research note released on July 29, 2021 offered a Buy rating with a price target of $35. Sidoti on their part issued Neutral rating on April 30, 2020.