Wendy Diddell Sells 23,901 Shares of Richardson Electronics (NASDAQ:RELL) Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) COO Wendy Diddell sold 23,901 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $20.00, for a total value of $478,020.00. Following the transaction, the chief operating officer owned 114,150 shares of the company’s stock, valued at approximately $2,283,000. The trade was a 17.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Richardson Electronics Price Performance

Shares of NASDAQ RELL opened at $20.66 on Friday. Richardson Electronics, Ltd. has a 1-year low of $9.37 and a 1-year high of $23.15. The business’s fifty day moving average price is $17.85 and its two-hundred day moving average price is $14.77. The firm has a market capitalization of $300.81 million, a PE ratio of 46.96, a P/E/G ratio of 1.64 and a beta of 1.28.

Richardson Electronics (NASDAQ:RELL) last announced its quarterly 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 during 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 research analysts expect that Richardson Electronics, Ltd. will post 0.5 earnings per share for the current fiscal year.

Richardson Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Friday, August 7th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 7th. Richardson Electronics’s payout ratio is presently 54.55%.

Institutional Investors Weigh In On Richardson Electronics

Institutional investors have recently bought and sold shares of the stock. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Richardson Electronics during the 1st quarter valued at about $1,095,000. First Wilshire Securities Management Inc. lifted its stake in shares of Richardson Electronics by 13.9% in the 1st quarter. First Wilshire Securities Management Inc. now owns 671,998 shares of the technology company’s stock worth $7,358,000 after acquiring an additional 82,054 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Richardson Electronics in the 1st quarter worth approximately $697,000. Nano Cap New Millennium Growth Fund L P bought a new position in shares of Richardson Electronics in the fourth quarter valued at approximately $462,000. Finally, Empowered Funds LLC boosted its holdings in shares of Richardson Electronics by 7.6% in the first quarter. Empowered Funds LLC now owns 20,596 shares of the technology company’s stock valued at $226,000 after acquiring an additional 1,454 shares in the last quarter. Institutional investors and hedge funds own 71.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on RELL shares. Zacks Research upgraded shares of Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Richardson Electronics in a research report on Monday, July 20th. Northland Securities raised Richardson Electronics from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $14.00 to $24.00 in a report on Tuesday, July 28th. Finally, Wall Street Zen upgraded Richardson Electronics from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus 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.