Insider Trading Alert: Benchmark Electronics Inc Director Sells Shares Worth $302K
In a recent SEC filing, Benchmark Electronics Inc (NYSE:BHE) director Jeffrey Stephen McCreary sold 7,073 shares of company stock at $42.7 each, totaling $302,017. This transaction, made from McCreary's family trust, adjusted his direct holdings to 42,027 shares. Investors often analyze insider transactions for insights into a stock's value and prospects.
Benchmark Electronics, known for manufacturing printed circuit boards, recently exceeded Q2 2024 revenue guidance, driven by Aerospace & Defense and Semiconductor Capital Equipment sectors. With non-GAAP gross margins surpassing 10%, the company reported earnings per share above guidance and generated significant free cash flow.
Looking forward, Benchmark anticipates Q3 2024 revenues between $630 million and $670 million, maintaining 10% non-GAAP gross margins. CEO Jeff Benck emphasized growth potential in Semi-Cap and Aerospace & Defense segments. The company's focus on promising sectors highlights optimism for future growth.
InvestingPro Insights:
- Market capitalization: $1.52 billion
- P/E ratio: 22.41 (20.52 adjusted for last 12 months)
- Revenue growth: -6.7% in last 12 months
- Stock price increase: 39.01% in past six months
Analysts expect future profitability and continued profitability for Benchmark Electronics. These insights, along with the recent insider sale, may influence investors' perspectives on the stock. For a comprehensive analysis, visit InvestingPro's website for additional tips on Benchmark Electronics.