Engaged Capital buys $58,787,230 stake in Benchmark Electronics (BHE)

Benchmark Electronics (BHE) : Engaged Capital scooped up 1,584,453 additional shares in Benchmark Electronics during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 2,428,221 shares of Benchmark Electronics which is valued at $58,787,230.Benchmark Electronics makes up approximately 16.70% of Engaged Capital’s portfolio.

Other Hedge Funds, Including , Millennium Management reduced its stake in BHE by selling 4,181 shares or 3.29% in the most recent quarter. The Hedge Fund company now holds 122,767 shares of BHE which is valued at $2,972,189. Benchmark Electronics makes up approx 0.01% of Millennium Management’s portfolio.Vident Investment Advisory reduced its stake in BHE by selling 78,283 shares or 49.14% in the most recent quarter. The Hedge Fund company now holds 81,025 shares of BHE which is valued at $1,961,615. Benchmark Electronics makes up approx 0.26% of Vident Investment Advisory’s portfolio.Credit Suisse Ag boosted its stake in BHE in the latest quarter, The investment management firm added 3,503 additional shares and now holds a total of 57,901 shares of Benchmark Electronics which is valued at $1,401,783.Ifrah Financial Services boosted its stake in BHE in the latest quarter, The investment management firm added 142 additional shares and now holds a total of 9,755 shares of Benchmark Electronics which is valued at $232,949. Benchmark Electronics makes up approx 0.09% of Ifrah Financial Services’s portfolio.Simplex Trading boosted its stake in BHE in the latest quarter, The investment management firm added 608 additional shares and now holds a total of 967 shares of Benchmark Electronics which is valued at $22,019.

Benchmark Electronics opened for trading at $24.19 and hit $24.36 on the upside on Thursday, eventually ending the session at $24.36, with a gain of 1.00% or 0.24 points. The heightened volatility saw the trading volume jump to 2,31,384 shares. Company has a market cap of $1,193 M.

On the company’s financial health, Benchmark Electronics reported $0.31 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 21, 2016. Analyst had a consensus of $0.32. The company had revenue of $579.34 million for the quarter, compared to analysts expectations of $582.92 million. The company’s revenue was down -12.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.42 EPS.

Many Wall Street Analysts have commented on Benchmark Electronics. Company shares were Reiterated by Needham on Jul 22, 2016 to “Buy”, Firm has raised the Price Target to $ 26 from a previous price target of $23 .

Benchmark Electronics Inc. (Benchmark) is a provider of integrated electronic manufacturing services. Benchmark provides its services to original equipment manufacturers (OEMs) of industrial control equipment including aerospace and defense equipment telecommunication equipment medical devices and testing and instrumentation products. The Company’s operations consist of three principal areas: manufacturing and assembly operations including printed circuit boards and subsystem assembly box build and systems integration; precision technology manufacturing including precision machining metal joining assembly and functional testing and specialized engineering services including product design printed circuit board layout automation and test development. Benchmark’s facilities include 1.6 million square feet in its United States facilities and 2.2 million square feet in its facilities in China Malaysia Mexico the Netherlands Romania and Thailand.

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