Robert Ben Sells 5,000 Shares of Richardson Electronics (NASDAQ:RELL) Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) CFO Robert Ben sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $11.90, for a total value of $59,500.00. Following the sale, the chief financial officer owned 57,034 shares in the company, valued at approximately $678,704.60. The trade was a 8.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Richardson Electronics Stock Up 4.8%

RELL stock opened at $11.36 on Friday. The firm has a market capitalization of $164.92 million, a PE ratio of 227.25, a PEG ratio of 1.78 and a beta of 1.09. Richardson Electronics, Ltd. has a twelve month low of $7.57 and a twelve month high of $13.60. The stock has a 50-day simple moving average of $10.98 and a two-hundred day simple moving average of $10.48.

Richardson Electronics (NASDAQ:RELL) last announced its quarterly earnings results on Wednesday, January 7th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The firm had revenue of $52.29 million for the quarter, compared to the consensus estimate 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 in the prior year, the firm posted ($0.05) earnings per share. On average, equities research analysts anticipate that Richardson Electronics, Ltd. will post 0.27 EPS for the current fiscal year.

Richardson Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Friday, February 6th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, February 6th. Richardson Electronics’s dividend payout ratio (DPR) is presently 480.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. AMH Equity Ltd bought a new position in shares of Richardson Electronics during the 3rd quarter valued at $783,000. ARS Investment Partners LLC boosted its position in Richardson Electronics by 11.7% during the second quarter. ARS Investment Partners LLC now owns 50,944 shares of the technology company’s stock valued at $492,000 after buying an additional 5,353 shares during the period. First Wilshire Securities Management Inc. grew its stake in shares of Richardson Electronics by 12.0% during the second quarter. First Wilshire Securities Management Inc. now owns 838,077 shares of the technology company’s stock valued at $8,087,000 after buying an additional 89,603 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Richardson Electronics by 109.8% during the second quarter. State Board of Administration of Florida Retirement System now owns 25,479 shares of the technology company’s stock valued at $246,000 after buying an additional 13,337 shares during the last quarter. Finally, Wedbush Securities Inc. increased its holdings in shares of Richardson Electronics by 15.3% in the second quarter. Wedbush Securities Inc. now owns 14,814 shares of the technology company’s stock worth $143,000 after buying an additional 1,970 shares during the period. 71.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RELL has been the subject of several research analyst reports. Zacks Research lowered Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Northland Securities set a $11.00 price target on Richardson Electronics in a report on Thursday, January 22nd. Finally, Weiss Ratings downgraded Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, January 9th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $11.00.

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.