Company shares last traded at $30.50 which is just under the 50 day moving average of $33.73 and just below the 200 day moving average of $32.79. The 50 day moving average went down by -9.57% and the 200 day average was down $-2.29. (NYSE:BHE) shares saw heavy trading volume with 704K shares changing hands by the end of trading on Tuesday. Volume was up 196.42% over the stocks average daily volume.
Short traders are feeling a little more bullish on Benchmark Electronics, Inc. of late if you put credence in the downtick in short interest. The company realized a fall in short interest from September 15, 2017 to September 29, 2017 of -3.70%. Short interest fell from 412,509 to 397,253 over that timeframe. The days to cover decreased to 2.0 and the percentage of shorted shares was 0.01% on September 29.
Benchmark Electronics, Inc. (NYSE:BHE) has been the object of insider selling activity recently. Scott R. Peterson, VP disclosed the sale of 1,000 shares of BHE stock. The shares were sold on September 7th for an average price of $32.06. Peterson now owns $605,710 of the stock according to the SEC filing.
Here are a few substantial investment firms who have updated their positions. Meeder Asset Management Inc augmented its investment by buying 591 shares an increase of 106.3%. Meeder Asset Management Inc claims 1,147 shares worth $39,000. The value of the position overall is up by 116.7%. Meritage Portfolio Management grew its holdings by buying 500 shares an increase of 0.3% from 06/30/2017 to 09/30/2017. Meritage Portfolio Management now controls 167,536 shares valued at $5,721,000. The total value of its holdings increased 6.0%.
Shell Asset Management CO cut its ownership by selling 1,600 shares a decrease of 2.3% in the quarter. Shell Asset Management CO now holds 67,286 shares with a value of $2,298,000. The total value of its holdings increased 3.3%. Robeco Institutional Asset Management B.v. expanded its stake by buying 101,666 shares an increase of 12.6% as of 09/30/2017. Robeco Institutional Asset Management B.v. currently owns 906,586 shares with a value of $30,958,000. The value of the position overall is up by 19.1%.
July 18 investment analysts at Needham maintained a stock rating of “Buy” but raised the price target from $26.00 to $37.00.
The P/E ratio is currently 22.43 and the market cap of the company is 1.52B. In the latest earnings report the EPS was $1.36 and is estimated to be $1.49 for the current year with 49,924,000 shares currently outstanding. Next quarter’s EPS is estimated at $0.36 with next year’s EPS anticipated to be $1.64.
Benchmark Electronics, Inc. (Benchmark), launched on October 21, 1981, is a provider of electronic manufacturing services. The Company operates through three operating segments: Americas, Asia, and Europe. The Company 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 Company offers integrated design and manufacturing services, from initial product design to volume production, including direct order fulfillment and post-deployment services. It has manufacturing facilities in the United States, Mexico, Asia and Europe..