Richardson Electronics (NASDAQ:RELL) Director Sells $519,100.00 in Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Robert Kluge sold 29,000 shares of Richardson Electronics stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $17.90, for a total value of $519,100.00. Following the sale, the director directly owned 51,365 shares in the company, valued at approximately $919,433.50. This trade represents a 36.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Richardson Electronics Trading Down 1.9%

Shares of NASDAQ RELL opened at $20.98 on Thursday. Richardson Electronics, Ltd. has a 12-month low of $9.37 and a 12-month high of $23.15. The company has a market cap of $305.47 million, a PE ratio of 47.68, a P/E/G ratio of 1.69 and a beta of 1.28. The stock has a 50 day simple moving average of $17.71 and a 200-day simple moving average of $14.66.

Richardson Electronics (NASDAQ:RELL) last posted its earnings results on Wednesday, July 22nd. The technology company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.07 by $0.14. The firm had revenue of $66.20 million for the quarter, compared to analysts’ expectations of $55.37 million. Richardson Electronics had a return on equity of 3.55% and a net margin of 2.79%. Sell-side analysts forecast that Richardson Electronics, Ltd. will post 0.5 earnings per share for the current fiscal year.

Richardson Electronics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Friday, August 7th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.24 annualized dividend and a dividend yield of 1.1%. Richardson Electronics’s dividend payout ratio is presently 54.55%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RELL shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Richardson Electronics in a report on Monday, July 20th. Zacks Research upgraded shares of Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. Finally, Northland Securities upgraded shares of Richardson Electronics from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $14.00 to $24.00 in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $24.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Richardson Electronics in the 1st quarter valued at about $1,095,000. First Wilshire Securities Management Inc. grew its stake in shares of Richardson Electronics by 13.9% in the 1st quarter. First Wilshire Securities Management Inc. now owns 671,998 shares of the technology company’s stock worth $7,358,000 after purchasing an additional 82,054 shares during the last quarter. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Richardson Electronics in the 4th quarter worth approximately $462,000. Empowered Funds LLC lifted its stake in Richardson Electronics by 7.6% during the first quarter. Empowered Funds LLC now owns 20,596 shares of the technology company’s stock valued at $226,000 after purchasing an additional 1,454 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in Richardson Electronics during the first quarter valued at approximately $697,000. 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.