Richardson Electronics (NASDAQ:RELL) Shares Cross Above 200-Day Moving Average – Time to Sell?

Richardson Electronics, Ltd. (NASDAQ:RELL) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.37 and traded as high as $19.16. Richardson Electronics shares last traded at $19.01, with a volume of 213,587 shares.

Analyst Upgrades and Downgrades

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

Richardson Electronics Trading Down 11.5%

The stock has a market cap of $241.84 million, a price-to-earnings ratio of 61.52, a P/E/G ratio of 1.95 and a beta of 1.26. The firm’s 50-day moving average is $16.65 and its two-hundred day moving average is $13.46.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings results on Wednesday, April 8th. The technology company reported $0.07 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $53.12 million. On average, analysts predict that Richardson Electronics, Ltd. will post 0.25 earnings per share for the current year.

Richardson Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Friday, May 8th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, May 8th. Richardson Electronics’s payout ratio is currently 88.89%.

Insider Buying and Selling at Richardson Electronics

In other Richardson Electronics news, Director Kenneth Halverson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $14.69, for a total value of $146,900.00. Following the completion of the sale, the director directly owned 14,345 shares of the company’s stock, valued at $210,728.05. This trade represents a 41.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kathleen Mcnally sold 6,636 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $16.85, for a total transaction of $111,816.60. Following the sale, the executive vice president owned 45,719 shares of the company’s stock, valued at approximately $770,365.15. The trade was a 12.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 33.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Richardson Electronics

A number of hedge funds have recently made changes to their positions in RELL. First Wilshire Securities Management Inc. grew its stake in shares of Richardson Electronics by 13.9% in the first 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 in the last quarter. State Street Corp increased its position in shares of Richardson Electronics by 1.9% in the 4th quarter. State Street Corp now owns 243,427 shares of the technology company’s stock valued at $2,648,000 after purchasing an additional 4,629 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Richardson Electronics during the 1st quarter worth about $1,095,000. Bank of New York Mellon Corp lifted its stake in Richardson Electronics by 6.3% during the first quarter. Bank of New York Mellon Corp now owns 92,426 shares of the technology company’s stock worth $1,012,000 after purchasing an additional 5,506 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Richardson Electronics by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company’s stock valued at $950,000 after buying an additional 5,802 shares in the last quarter. Hedge funds and other institutional investors own 71.95% of the company’s stock.

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.