Richardson Electronics (NASDAQ:RELL) CFO Robert Ben Sells 4,000 Shares of Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) CFO Robert Ben sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $12.99, for a total value of $51,960.00. Following the completion of the transaction, the chief financial officer owned 53,034 shares of the company’s stock, valued at $688,911.66. The trade was a 7.01% 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 the SEC website.

Richardson Electronics Stock Performance

Shares of Richardson Electronics stock traded down $0.64 on Monday, hitting $13.04. 98,696 shares of the company traded hands, compared to its average volume of 160,357. Richardson Electronics, Ltd. has a 52 week low of $7.57 and a 52 week high of $15.34. The business has a 50-day simple moving average of $11.47 and a 200 day simple moving average of $10.70. The stock has a market capitalization of $189.33 million, a P/E ratio of 260.53, a price-to-earnings-growth ratio of 2.15 and a beta of 1.09.

Richardson Electronics (NASDAQ:RELL) last posted its earnings results on Wednesday, January 7th. The technology company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $52.29 million during the quarter, compared to analysts’ expectations of $49.90 million. Richardson Electronics had a net margin of 0.38% and a return on equity of 3.30%. During the same period last year, the company posted ($0.05) earnings per share. Research analysts expect that Richardson Electronics, Ltd. will post 0.27 earnings per share for the current year.

Richardson Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Friday, February 6th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, February 6th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.8%. Richardson Electronics’s dividend payout ratio (DPR) is presently 480.00%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Northland Securities set a $11.00 price target on shares of Richardson Electronics in a report on Thursday, January 22nd. Zacks Research cut Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Finally, Weiss Ratings cut shares of Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, January 9th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $11.00.

Institutional Trading of Richardson Electronics

A number of hedge funds have recently added to or reduced their stakes in RELL. Tower Research Capital LLC TRC increased 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 valued at $40,000 after purchasing an additional 3,117 shares during the period. Raymond James Financial Inc. bought a new position in shares of Richardson Electronics during the second quarter valued at approximately $57,000. Los Angeles Capital Management LLC purchased a new position in Richardson Electronics during the fourth quarter valued at approximately $91,000. GSA Capital Partners LLP bought a new position in Richardson Electronics in the third quarter worth approximately $104,000. Finally, Engineers Gate Manager LP bought a new position in Richardson Electronics in the second quarter worth approximately $103,000. 71.95% of the stock is 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.