Richardson Electronics, Ltd. Announces Quarterly Dividend of $0.06 (NASDAQ:RELL)

Richardson Electronics, Ltd. (NASDAQ:RELL) declared a quarterly dividend on Wednesday, July 22nd. Investors of record on Friday, August 7th will be paid a dividend of 0.06 per share by the technology company on Wednesday, August 26th. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 7th.

Richardson Electronics has a payout ratio of 43.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Richardson Electronics to earn $0.39 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 61.5%.

Richardson Electronics Stock Up 4.8%

Shares of NASDAQ:RELL opened at $18.01 on Thursday. The business’s 50 day moving average is $17.29 and its 200 day moving average is $14.07. The stock has a market cap of $262.23 million, a P/E ratio of 66.71, a price-to-earnings-growth ratio of 1.76 and a beta of 1.26. Richardson Electronics has a 52-week low of $9.37 and a 52-week high of $19.86.

Richardson Electronics (NASDAQ:RELL) last issued its earnings results on Wednesday, July 22nd. The technology company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.14. Richardson Electronics had a return on equity of 2.83% and a net margin of 1.75%.The business had revenue of $66.20 million during the quarter, compared to analyst estimates of $55.37 million. On average, sell-side analysts anticipate that Richardson Electronics will post 0.25 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, 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 $770,365.15. This trade represents a 12.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth Halverson sold 10,000 shares of Richardson Electronics stock in a transaction dated 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 owned 14,345 shares in the company, valued at $210,728.05. This trade represents a 41.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 33.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in shares of 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 acquiring an additional 3,117 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Richardson Electronics in the second quarter valued at approximately $57,000. Los Angeles Capital Management LLC purchased a new position in Richardson Electronics in the fourth quarter worth $91,000. Engineers Gate Manager LP purchased a new position in Richardson Electronics in the second quarter worth $103,000. Finally, Deutsche Bank AG increased its position in shares of Richardson Electronics by 150.3% during the fourth quarter. Deutsche Bank AG now owns 11,421 shares of the technology company’s stock worth $124,000 after purchasing an additional 6,858 shares in the last quarter. Hedge funds and other institutional investors own 71.95% of the company’s stock.

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.