Benchmark Electronics Inc (NYSE:BHE) director, Jeffrey Stephen McCreary, has sold 10,000 shares of the company's common stock, according to a recent SEC filing. The transaction, which took place on May 8, 2024, was executed at a price of $39.49 per share, resulting in a total sale amount of $394,900.
The sale has adjusted McCreary's direct holding in the company to 45,062 shares. In addition, it was noted that there are 200 shares held indirectly by McCreary's spouse following the transaction.
Investors often monitor insider trading activity, such as purchases and sales of company stock, for insights into the confidence levels of a company's executives and directors in the business's prospects. The transactions are publicly disclosed to ensure transparency and provide valuable information for market participants.
Benchmark Electronics, headquartered in Tempe, Arizona, specializes in manufacturing services and is known within the industry for its expertise in printed circuit boards. The company's stock is traded under the ticker BHE on the New York Stock Exchange.
Details of the transaction were made available through the SEC's Form 4 filing, with the signature of Jason Eastburn, who signed by the power of attorney for Jeffrey S. McCreary. The documented sale provides current and potential investors with up-to-date information on insider transactions, which can be an important factor in investment decision-making.
InvestingPro Insights
Benchmark Electronics Inc (NYSE:BHE) has recently witnessed significant insider trading activity, with director Jeffrey Stephen McCreary's sale of 10,000 shares. This event coincides with the company's stock trading near its 52-week high, as noted by the current price of $39.14 per share, which aligns with the transaction price of $39.49 per share.
InvestingPro Data reveals a market capitalization of $1.44 billion and a P/E ratio that stands at 21.38, reflecting investor sentiment and valuation at this point in time. The company's revenue over the last twelve months as of Q1 2024 was reported at $2.819 billion, although it experienced a revenue decline of 4.25% during the same period.
One of the InvestingPro Tips suggests that the stock is currently in overbought territory, as indicated by the Relative Strength Index (RSI), which is a momentum oscillator that measures the speed and change of price movements. This could be a critical consideration for investors analyzing the potential for future price movements.
Another tip to consider is the company's strong free cash flow yield, which is a positive sign for investors looking for companies with healthy cash generation relative to their share price. Additionally, the company has shown a robust return over the last year with a 92.54% price total return, indicating a strong performance in the market.
For those seeking further insights, InvestingPro offers additional tips on Benchmark Electronics. Use the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, and unlock the full spectrum of valuable analysis that could aid in making more informed investment decisions.
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