Insider Selling: Richardson Electronics (NASDAQ:RELL) Director Sells $54,329.80 in Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director James Benham sold 3,020 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $17.99, for a total transaction of $54,329.80. Following the completion of the sale, the director directly owned 19,345 shares in the company, valued at approximately $348,016.55. This represents a 13.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

James Benham also recently made the following trade(s):

• On Wednesday, July 29th, James Benham sold 164 shares of Richardson Electronics stock. The stock was sold at an average price of $19.06, for a total value of $3,125.84.

Richardson Electronics Stock Performance

Shares of RELL opened at $17.21 on Monday. The firm has a fifty day moving average price of $18.34 and a 200-day moving average price of $15.36. The firm has a market capitalization of $252.81 million, a P/E ratio of 39.11, a P/E/G ratio of 1.36 and a beta of 1.28. Richardson Electronics, Ltd. has a 12-month low of $9.37 and a 12-month high of $23.15.

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

Richardson Electronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Friday, August 7th will be given 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 of this dividend is Friday, August 7th. Richardson Electronics’s dividend payout ratio is presently 54.55%.

Hedge Funds Weigh In On Richardson Electronics

Several institutional investors and hedge funds have recently modified their holdings of RELL. Tower Research Capital LLC TRC grew its stake in Richardson Electronics by 298.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company’s stock valued at $40,000 after acquiring an additional 3,117 shares during the period. Raymond James Financial Inc. acquired a new position in Richardson Electronics during the second quarter worth $57,000. Los Angeles Capital Management LLC purchased a new position in Richardson Electronics during the fourth quarter valued at $91,000. Engineers Gate Manager LP purchased a new position in Richardson Electronics during the second quarter valued at $103,000. Finally, Deutsche Bank AG grew its position in shares of Richardson Electronics by 150.3% in the fourth quarter. Deutsche Bank AG now owns 11,421 shares of the technology company’s stock valued at $124,000 after purchasing an additional 6,858 shares during the period. Hedge funds and other institutional investors own 71.95% of the company’s stock.

Analyst Upgrades and Downgrades

RELL has been the subject of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Richardson Electronics in a report on Monday, July 20th. Northland Securities raised shares of Richardson Electronics from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $14.00 to $24.00 in a research report on Tuesday, July 28th. Wall Street Zen upgraded shares of Richardson Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Zacks Research raised shares of Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Richardson Electronics presently has a consensus rating of “Buy” and an average price target of $24.00.

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.