Maverick Capital Ltd. Invests $703,000 in Benchmark Electronics, Inc. $BHE

Maverick Capital Ltd. bought a new position in shares of Benchmark Electronics, Inc. (NYSE:BHE) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,535 shares of the technology company’s stock, valued at approximately $703,000.

A number of other large investors have also recently bought and sold shares of BHE. Royal Bank of Canada raised its position in Benchmark Electronics by 30.2% during the 1st quarter. Royal Bank of Canada now owns 14,420 shares of the technology company’s stock worth $548,000 after buying an additional 3,341 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Benchmark Electronics by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,239 shares of the technology company’s stock valued at $808,000 after acquiring an additional 931 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of Benchmark Electronics in the first quarter worth $202,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Benchmark Electronics by 12.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,673 shares of the technology company’s stock worth $3,981,000 after acquiring an additional 11,369 shares during the period. Finally, Jane Street Group LLC increased its stake in shares of Benchmark Electronics by 99.8% in the first quarter. Jane Street Group LLC now owns 107,802 shares of the technology company’s stock worth $4,100,000 after acquiring an additional 53,840 shares during the period. Hedge funds and other institutional investors own 92.29% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Stephen J. Beaver sold 20,000 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $86.25, for a total transaction of $1,725,000.00. Following the sale, the senior vice president directly owned 75,020 shares of the company’s stock, valued at $6,470,475. This represents a 21.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Rhonda R. Turner sold 6,600 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $85.14, for a total value of $561,924.00. Following the sale, the senior vice president owned 36,067 shares in the company, valued at $3,070,744.38. This trade represents a 15.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 86,352 shares of company stock valued at $7,312,806. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on BHE shares. Weiss Ratings restated a “hold (c)” rating on shares of Benchmark Electronics in a research report on Friday, July 17th. Needham & Company LLC upped their price target on shares of Benchmark Electronics from $62.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $92.00 price target on shares of Benchmark Electronics in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Benchmark Electronics Price Performance

Shares of NYSE BHE opened at $76.81 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.18 and a quick ratio of 1.42. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 80.86 and a beta of 1.24. The firm’s 50 day simple moving average is $86.43 and its 200-day simple moving average is $69.58. Benchmark Electronics, Inc. has a 12 month low of $34.44 and a 12 month high of $100.41.

Benchmark Electronics (NYSE:BHE) last posted its earnings results on Wednesday, April 29th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. The firm had revenue of $677.28 million during the quarter, compared to analysts’ expectations of $676.25 million. Benchmark Electronics had a net margin of 1.27% and a return on equity of 6.63%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 EPS.

Benchmark Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were given a $0.17 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.9%. Benchmark Electronics’s dividend payout ratio is 71.58%.

Benchmark Electronics Company Profile

Benchmark Electronics, Inc is a global provider of comprehensive electronics manufacturing services (EMS) and integrated engineering solutions. The company offers a full suite of services that span the entire product lifecycle, from early?stage design and prototyping to high?volume production and aftermarket support. Benchmark serves diverse end markets, including industrial automation, medical devices, communications, aerospace and defense, and semiconductor equipment.

At the core of Benchmark’s offering are printed circuit board assemblies (PCBA), system integration, box build assemblies and turnkey manufacturing.