Richardson Electronics (NASDAQ:RELL) EVP Kathleen Mcnally Sells 6,636 Shares of Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) EVP Kathleen Mcnally sold 6,636 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $16.85, for a total value of $111,816.60. Following the completion of the sale, the executive vice president directly owned 45,719 shares in the company, valued at approximately $770,365.15. This represents a 12.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Richardson Electronics Stock Down 4.7%

Shares of NASDAQ RELL opened at $17.55 on Friday. Richardson Electronics, Ltd. has a twelve month low of $8.66 and a twelve month high of $19.86. The firm has a market cap of $255.53 million, a P/E ratio of 65.00, a PEG ratio of 2.89 and a beta of 1.24. The company has a 50 day moving average of $13.42 and a 200 day moving average of $12.01.

Richardson Electronics (NASDAQ:RELL) last announced its quarterly earnings data on Wednesday, April 8th. The technology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Richardson Electronics had a net margin of 1.75% and a return on equity of 2.83%. The company had revenue of $55.47 million during the quarter, compared to analyst estimates of $53.13 million. As a group, equities analysts expect that Richardson Electronics, Ltd. will post 0.25 earnings per share for the current fiscal year.

Richardson Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Friday, May 8th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, May 8th. Richardson Electronics’s payout ratio is presently 88.89%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RELL. Weiss Ratings upgraded shares of Richardson Electronics from a “sell (d+)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Northland Securities set a $14.00 price objective on shares of Richardson Electronics in a report on Friday, April 10th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $14.00.

Institutional Investors Weigh In On Richardson Electronics

A number of hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its stake in Richardson Electronics by 7.6% during the 1st quarter. Empowered Funds LLC now owns 20,596 shares of the technology company’s stock valued at $226,000 after buying an additional 1,454 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Richardson Electronics during the 1st quarter valued at $697,000. Aristides Capital LLC raised its stake in Richardson Electronics by 14.1% during the 1st quarter. Aristides Capital LLC now owns 23,885 shares of the technology company’s stock valued at $262,000 after buying an additional 2,945 shares during the last quarter. First Wilshire Securities Management Inc. raised its stake in Richardson Electronics by 13.9% during the 1st quarter. First Wilshire Securities Management Inc. now owns 671,998 shares of the technology company’s stock valued at $7,358,000 after buying an additional 82,054 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Richardson Electronics during the 1st quarter valued at $1,095,000. 71.95% of the stock is currently owned by hedge funds and other institutional investors.

About Richardson Electronics

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.