Richardson Electronics (NASDAQ:RELL) Director Kenneth Halverson Sells 10,000 Shares

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Kenneth Halverson sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $13.09, for a total transaction of $130,900.00. Following the completion of the sale, the director owned 14,345 shares in the company, valued at $187,776.05. This represents a 41.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Richardson Electronics Stock Up 4.9%

NASDAQ RELL opened at $13.80 on Tuesday. The stock has a market cap of $200.38 million, a price-to-earnings ratio of 276.06, a price-to-earnings-growth ratio of 2.16 and a beta of 1.09. Richardson Electronics, Ltd. has a fifty-two week low of $7.57 and a fifty-two week high of $15.34. The business has a fifty day moving average of $11.31 and a 200-day moving average of $10.61.

Richardson Electronics (NASDAQ:RELL) last released its quarterly earnings results on Wednesday, January 7th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $52.29 million for 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 earned ($0.05) EPS. As a group, analysts anticipate that Richardson Electronics, Ltd. will post 0.27 EPS for the current year.

Richardson Electronics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Friday, February 6th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, February 6th. Richardson Electronics’s dividend payout ratio is currently 480.00%.

Institutional Investors Weigh In On Richardson Electronics

Several large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its holdings in shares of 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 acquiring an additional 3,117 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Richardson Electronics in the second quarter valued at about $57,000. Los Angeles Capital Management LLC acquired a new position in shares of Richardson Electronics during the fourth quarter worth about $91,000. Engineers Gate Manager LP acquired a new position in shares of Richardson Electronics during the second quarter worth about $103,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Richardson Electronics in the third quarter worth about $104,000. Institutional investors and hedge funds own 71.95% of the company’s stock.

Wall Street Analyst Weigh In

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

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.