Richardson Electronics (NASDAQ:RELL) Director Sells $146,900.00 in Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Kenneth Halverson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $14.69, for a total value of $146,900.00. Following the transaction, the director directly owned 14,345 shares of the company’s stock, valued at approximately $210,728.05. This trade represents a 41.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Kenneth Halverson also recently made the following trade(s):

• On Thursday, February 12th, Kenneth Halverson sold 10,000 shares of Richardson Electronics stock. The shares were sold at an average price of $13.09, for a total value of $130,900.00.

Richardson Electronics Stock Down 1.2%

Shares of Richardson Electronics stock traded down $0.18 during trading on Thursday, reaching $14.94. The company’s stock had a trading volume of 17,449 shares, compared to its average volume of 132,615. The business has a 50 day moving average price of $12.43 and a 200-day moving average price of $11.57. Richardson Electronics, Ltd. has a 12-month low of $8.66 and a 12-month high of $15.34. The company has a market capitalization of $217.48 million, a P/E ratio of 55.34, a price-to-earnings-growth ratio of 2.30 and a beta of 1.24.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings results on Wednesday, April 8th. The technology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $55.47 million for the quarter, compared to analysts’ expectations of $53.13 million. Richardson Electronics had a net margin of 1.75% and a return on equity of 2.83%. Research analysts predict that Richardson Electronics, Ltd. will post 0.25 EPS for the current fiscal year.

Richardson Electronics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Friday, May 8th will be given a $0.06 dividend. The ex-dividend date is Friday, May 8th. This represents a $0.24 annualized dividend and a dividend yield of 1.6%. Richardson Electronics’s dividend payout ratio is currently 88.89%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RELL. Tower Research Capital LLC TRC raised its holdings 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 worth $40,000 after purchasing an additional 3,117 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Richardson Electronics in the second quarter worth $57,000. Los Angeles Capital Management LLC acquired a new position in shares of Richardson Electronics during the 4th quarter valued at $91,000. Engineers Gate Manager LP purchased a new stake in Richardson Electronics during the 2nd quarter worth $103,000. Finally, GSA Capital Partners LLP acquired a new stake in Richardson Electronics in the 3rd quarter valued at $104,000. Institutional investors and hedge funds own 71.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RELL shares. Northland Securities set a $14.00 price target on Richardson Electronics in a report on Friday, April 10th. Weiss Ratings raised shares of Richardson Electronics from a “sell (d+)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.00.

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.