Insider Selling: Richardson Electronics (NASDAQ:RELL) CFO Sells $108,775.00 in Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) CFO Robert Ben sold 9,500 shares of the business’s stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $11.45, for a total value of $108,775.00. Following the completion of the sale, the chief financial officer owned 62,034 shares in the company, valued at approximately $710,289.30. The trade was a 13.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Richardson Electronics Stock Performance

RELL stock opened at $10.95 on Friday. The stock has a fifty day moving average of $10.07 and a 200-day moving average of $9.58. Richardson Electronics, Ltd. has a fifty-two week low of $7.57 and a fifty-two week high of $15.51. The company has a market capitalization of $158.67 million, a price-to-earnings ratio of 1,096.10, a PEG ratio of 1.68 and a beta of 0.97.

Richardson Electronics (NASDAQ:RELL) last announced its quarterly earnings data on Wednesday, October 8th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.11. The business had revenue of $54.61 million for the quarter, compared to analysts’ expectations of $51.51 million. Richardson Electronics had a return on equity of 2.91% and a net margin of 0.08%.During the same period in the previous year, the business posted $0.04 EPS. Equities analysts predict that Richardson Electronics, Ltd. will post 0.27 EPS for the current year.

Richardson Electronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 7th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $0.24 annualized dividend and a yield of 2.2%. Richardson Electronics’s dividend payout ratio (DPR) is 2,400.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Richardson Electronics in a report on Wednesday, October 8th. Zacks Research upgraded Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Founders Capital Management boosted its stake in Richardson Electronics by 22.6% during the second quarter. Founders Capital Management now owns 6,500 shares of the technology company’s stock valued at $63,000 after buying an additional 1,200 shares during the period. Wedbush Securities Inc. raised its holdings in shares of Richardson Electronics by 15.3% in the 2nd quarter. Wedbush Securities Inc. now owns 14,814 shares of the technology company’s stock valued at $143,000 after acquiring an additional 1,970 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Richardson Electronics by 11.8% during the 1st quarter. American Century Companies Inc. now owns 27,172 shares of the technology company’s stock valued at $303,000 after acquiring an additional 2,860 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Richardson Electronics by 298.8% during the second 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 in the last quarter. Finally, ARS Investment Partners LLC increased its position in shares of Richardson Electronics by 11.7% in the second quarter. ARS Investment Partners LLC now owns 50,944 shares of the technology company’s stock worth $492,000 after purchasing an additional 5,353 shares during the last quarter. 71.95% of the stock is currently owned by hedge funds and other institutional investors.

About Richardson Electronics

Richardson Electronics, Ltd. engages in the provision of engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and radio frequency (RF), microwave and power components used in semiconductor 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.