Insider Buying: Richardson Electronics, Ltd. (NASDAQ:RELL) Director Purchases 5,000 Shares of Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Paul J. Plante bought 5,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were bought at an average cost of $9.96 per share, with a total value of $49,800.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at $49,800. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Richardson Electronics Stock Performance

NASDAQ:RELL opened at $10.13 on Friday. The stock has a 50-day simple moving average of $9.04 and a 200-day simple moving average of $10.71. The stock has a market cap of $144.66 million, a P/E ratio of 36.18, a P/E/G ratio of 7.30 and a beta of 1.01. Richardson Electronics, Ltd. has a 1 year low of $8.08 and a 1 year high of $19.58.

Richardson Electronics (NASDAQ:RELL) last released its quarterly earnings data on Thursday, April 11th. The technology company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. The business had revenue of $52.38 million during the quarter, compared to analysts’ expectations of $56.00 million. Richardson Electronics had a return on equity of 1.09% and a net margin of 1.97%. During the same period in the prior year, the firm posted $0.44 EPS. On average, equities research analysts predict that Richardson Electronics, Ltd. will post 0.09 EPS for the current year.

Richardson Electronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.24 annualized dividend and a dividend yield of 2.37%. Richardson Electronics’s dividend payout ratio is currently 85.71%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Richardson Electronics by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 566,524 shares of the technology company’s stock valued at $7,563,000 after purchasing an additional 9,508 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Richardson Electronics by 69.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 20,251 shares of the technology company’s stock valued at $270,000 after purchasing an additional 8,302 shares during the last quarter. Barclays PLC lifted its holdings in shares of Richardson Electronics by 263.3% in the 4th quarter. Barclays PLC now owns 20,231 shares of the technology company’s stock valued at $270,000 after purchasing an additional 14,662 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Richardson Electronics by 38.4% in the 4th quarter. Nuveen Asset Management LLC now owns 21,406 shares of the technology company’s stock valued at $286,000 after purchasing an additional 5,943 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Richardson Electronics by 8.9% in the 4th quarter. Royal Bank of Canada now owns 21,310 shares of the technology company’s stock valued at $284,000 after purchasing an additional 1,749 shares during the last quarter. 71.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Richardson Electronics from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. provides engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and RF, Microwave and power components for semiconductors; and manufacturing equipment, RF and wireless and industrial power applications, as well as various applications including broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology.