Richardson Electronics (NASDAQ:RELL) Director Sells $146,900.00 in Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Kenneth Halverson sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $14.69, for a total value of $146,900.00. Following the completion of the transaction, the director directly owned 14,345 shares in the company, valued at approximately $210,728.05. The trade was a 41.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Kenneth Halverson also recently made the following trade(s):

• On Thursday, February 12th, Kenneth Halverson sold 10,000 shares of Richardson Electronics stock. The shares were sold at an average price of $13.09, for a total value of $130,900.00.

Richardson Electronics Price Performance

NASDAQ RELL opened at $15.38 on Friday. The stock’s fifty day moving average price is $12.46 and its 200 day moving average price is $11.59. Richardson Electronics, Ltd. has a 1 year low of $8.66 and a 1 year high of $15.61. The company has a market cap of $223.89 million, a price-to-earnings ratio of 56.97, a PEG ratio of 2.41 and a beta of 1.24.

Richardson Electronics (NASDAQ:RELL) last released its earnings results on Wednesday, April 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. Richardson Electronics had a return on equity of 2.83% and a net margin of 1.75%.The firm had revenue of $55.47 million for the quarter, compared to the consensus estimate of $53.13 million. Research analysts expect that Richardson Electronics, Ltd. will post 0.25 earnings per share for the current year.

Richardson Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Friday, May 8th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, May 8th. Richardson Electronics’s dividend payout ratio is presently 88.89%.

Institutional Investors Weigh In On Richardson Electronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RELL. Tower Research Capital LLC TRC grew its position in Richardson Electronics by 298.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company’s stock worth $40,000 after purchasing an additional 3,117 shares during the period. Raymond James Financial Inc. acquired a new stake in Richardson Electronics during the 2nd quarter worth about $57,000. Los Angeles Capital Management LLC purchased a new stake in shares of Richardson Electronics during the 4th quarter worth about $91,000. Engineers Gate Manager LP purchased a new stake in shares of Richardson Electronics during the 2nd quarter worth about $103,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Richardson Electronics during the 3rd quarter worth about $104,000. 71.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Weiss Ratings raised Richardson Electronics from a “sell (d+)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. Northland Securities set a $14.00 price target on Richardson Electronics in a research report on Friday, April 10th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Richardson Electronics currently has an average rating of “Hold” and a consensus price target of $14.00.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. (NASDAQ:RELL) is a global manufacturer, distributor and servicer of engineered components and subsystems for a diverse range of industrial, medical and scientific applications. The company specializes in vacuum electron devices, high-voltage power supplies and related electronic components, offering klystrons, traveling wave tubes, magnetrons, X-ray tubes, microwave amplifiers and power conversion products. Its solutions support customers in power grid management, semiconductor processing, medical imaging, scientific instrumentation and telecommunications.

In addition to its manufacturing capabilities, Richardson Electronics maintains a broad distribution network comprising thousands of standard and custom parts.