Insider Selling: Richardson Electronics (NASDAQ:RELL) Director Sells $26,205.00 in Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Kenneth Halverson sold 1,500 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $17.47, for a total value of $26,205.00. Following the completion of the transaction, the director directly owned 10,865 shares in the company, valued at $189,811.55. This represents a 12.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Richardson Electronics Stock Up 5.4%

NASDAQ:RELL opened at $17.78 on Thursday. Richardson Electronics, Ltd. has a 1-year low of $9.37 and a 1-year high of $23.15. The firm has a market capitalization of $261.19 million, a price-to-earnings ratio of 40.41, a price-to-earnings-growth ratio of 1.34 and a beta of 1.28. The stock has a fifty day simple moving average of $18.31 and a 200 day simple moving average of $15.48.

Richardson Electronics (NASDAQ:RELL) last announced its earnings results on Wednesday, July 22nd. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.14. The company had revenue of $66.20 million for the quarter, compared to the consensus estimate of $55.37 million. Richardson Electronics had a net margin of 2.79% and a return on equity of 3.55%. Equities 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 was paid on Wednesday, August 26th. Stockholders of record on Friday, August 7th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.3%. Richardson Electronics’s dividend payout ratio (DPR) is 54.55%.

Institutional Investors Weigh In On Richardson Electronics

Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its stake in shares of 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 purchasing an additional 3,117 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Richardson Electronics during the second quarter worth approximately $57,000. California State Teachers Retirement System raised its stake in shares of Richardson Electronics by 394.2% during the second quarter. California State Teachers Retirement System now owns 3,232 shares of the technology company’s stock worth $61,000 after buying an additional 2,578 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Richardson Electronics in the fourth quarter valued at approximately $91,000. Finally, Engineers Gate Manager LP bought a new position in Richardson Electronics in the second quarter valued at approximately $103,000. 71.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RELL. Northland Securities raised Richardson Electronics from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $14.00 to $24.00 in a research note on Tuesday, July 28th. Wall Street Zen upgraded Richardson Electronics from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Zacks Research raised shares of Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Richardson Electronics in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price 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.