Short Interest in Benchmark Electronics, Inc. (NYSE:BHE) Drops By 21.5%

Benchmark Electronics, Inc. (NYSE:BHE) saw a large drop in short interest in June. As of June 30th, there was short interest totalling 700,500 shares, a drop of 21.5% from the May 30th total of 892,600 shares. Approximately 1.8% of the shares of the company are short sold. Based on an average trading volume of 294,900 shares, the days-to-cover ratio is currently 2.4 days.

BHE has been the subject of several research reports. Needham & Company LLC lifted their target price on Ceridian HCM to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. TheStreet lowered Tribune Publishing from a “c-” rating to a “d+” rating in a research report on Monday, May 20th.

Several institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in Benchmark Electronics during the 4th quarter valued at approximately $20,663,000. D. E. Shaw & Co. Inc. boosted its position in Benchmark Electronics by 64.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 584,554 shares of the technology company’s stock valued at $12,381,000 after purchasing an additional 228,679 shares during the period. Nordea Investment Management AB acquired a new position in Benchmark Electronics during the 1st quarter valued at approximately $4,338,000. JPMorgan Chase & Co. boosted its position in Benchmark Electronics by 10.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,236,561 shares of the technology company’s stock valued at $32,461,000 after purchasing an additional 112,056 shares during the period. Finally, Bank of Montreal Can boosted its position in Benchmark Electronics by 2,032.1% during the 1st quarter. Bank of Montreal Can now owns 97,031 shares of the technology company’s stock valued at $2,547,000 after purchasing an additional 92,480 shares during the period. Institutional investors own 97.37% of the company’s stock.

Shares of BHE traded up $0.27 during mid-day trading on Friday, hitting $25.04. The stock had a trading volume of 140,900 shares, compared to its average volume of 353,774. The stock has a market capitalization of $966.49 million, a P/E ratio of 17.27 and a beta of 0.89. The company’s fifty day moving average price is $23.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.00 and a current ratio of 2.65. Benchmark Electronics has a fifty-two week low of $20.01 and a fifty-two week high of $30.23.

Benchmark Electronics (NYSE:BHE) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.33 EPS for the quarter, hitting the consensus estimate of $0.33. The company had revenue of $603.00 million during the quarter, compared to analyst estimates of $597.30 million. Benchmark Electronics had a return on equity of 5.24% and a net margin of 2.35%. The business’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 EPS.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a $0.15 dividend. The ex-dividend date is Thursday, June 27th. This represents a $0.60 annualized dividend and a dividend yield of 2.40%. Benchmark Electronics’s payout ratio is 41.38%.

Benchmark Electronics Company Profile

Benchmark Electronics, Inc, together with its subsidiaries, provides product design, engineering services, technology solutions, and advanced manufacturing services in the Americas, Asia, and Europe. The company offers engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing, and automation equipment design and build services.

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