The stock of Benchmark Electronics, Inc. (NYSE:BHE) hit a new 52-week high and has $44.00 target or 67.00% above today’s $26.35 share price. The 7 months bullish chart indicates low risk for the $1.29B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $44.00 price target is reached, the company will be worth $864.30 million 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 136,859 shares traded hands. Benchmark Electronics, Inc. (NYSE:BHE) has risen 17.53% since April 7, 2016 and is uptrending. It has outperformed by 12.74% the S&P500.
Benchmark Electronics, Inc. (NYSE:BHE) Ratings Coverage
Out of 5 analysts covering Benchmark Electronics (NYSE:BHE), 3 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 60% are positive. Benchmark Electronics has been the topic of 10 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Needham maintained it with “Buy” rating and $26 target price in Friday, July 22 report. The firm earned “Sector Perform” rating on Friday, October 23 by RBC Capital Markets. The company was maintained on Friday, October 21 by Needham. Berenberg initiated Benchmark Electronics, Inc. (NYSE:BHE) on Friday, May 27 with “Buy” rating. The stock of Benchmark Electronics, Inc. (NYSE:BHE) earned “Sell” rating by Cross Research on Friday, October 21. Needham maintained Benchmark Electronics, Inc. (NYSE:BHE) rating on Friday, October 23. Needham has “Buy” rating and $24 price target. On Friday, July 24 the stock rating was upgraded by Raymond James to “Outperform”.
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 2016 Q2. Its down 0.19, from 0.98 in 2016Q1. The ratio worsened, 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.
Louisiana State Employees Retirement System last reported 0.02% of its portfolio in the stock. Pnc Grp Incorporated reported 13,932 shares or 0% of all its holdings. Renaissance Technologies Ltd Liability Corporation has invested 0.02% of its portfolio in Benchmark Electronics, Inc. (NYSE:BHE). Thomson Horstmann Bryant Inc reported 35,313 shares or 0.1% of all its holdings. Vident Investment Advisory Ltd Com reported 81,025 shares or 0.24% of all its holdings. Schwab Charles Investment Incorporated owns 444,695 shares or 0.01% of their US portfolio. Paloma Mngmt accumulated 17,663 shares or 0% of the stock. Mackenzie Fincl reported 13,465 shares or 0% of all its holdings. Kcg Holdg Inc, a New Jersey-based fund reported 11,741 shares. Afam Capital Inc has 245,065 shares for 0.86% of their US portfolio. Moreover, Cornercap Counsel has 0.11% invested in Benchmark Electronics, Inc. (NYSE:BHE) for 26,290 shares. Barclays Public Ltd Com has invested 0% of its portfolio in Benchmark Electronics, Inc. (NYSE:BHE). Alliancebernstein Ltd Partnership last reported 79,832 shares in the company. Tfs Limited Liability Co holds 0.35% of its portfolio in Benchmark Electronics, Inc. (NYSE:BHE) for 90,920 shares. Ifrah Fin Serv has 9,755 shares for 0.08% of their US portfolio.
Insider Transactions: Since July 28, 2016, the stock had 0 insider buys, and 3 selling transactions for $1.86 million net activity. King Jon J sold 12,774 shares worth $301,132. DELLY GAYLA J also sold $617,527 worth of Benchmark Electronics, Inc. (NYSE:BHE) shares. 40,000 Benchmark Electronics, Inc. (NYSE:BHE) shares with value of $938,524 were sold by Adam Donald Francis.
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 Reports Third Quarter Results” published on October 20, 2016, Prnewswire.com published: “Benchmark Electronics To Acquire Secure Technology” on October 22, 2015. More interesting news about Benchmark Electronics, Inc. (NYSE:BHE) were released by: Prnewswire.com and their article: “Benchmark Electronics to Report Third Quarter 2016 Results” published on October 12, 2016 as well as Prnewswire.com‘s news article titled: “Benchmark Electronics Completes Secure Technology Transaction” with publication date: November 12, 2015.
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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