Needham analyst James Ricchiuti resumed coverage of Benchmark Electronics with a Hold rating after its in-line Q1 results last week that showed lower gross margins due to the decline in the more-profitable semi-cap business. The analyst cites the delayed recovery for OEMs in that segment this year as one of the headwinds faced by the company and also warns that Benchmark Electronics may see nearly no growth in its overall business in 2020. Ricchiuti notes however that he may turn more constructive on the shares in the coming months if visibility on its performance improves or if there is a pullback in the stock price.