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

Richardson Electronics, Ltd. (NASDAQ:RELL) CFO Robert Ben sold 5,000 shares of the company’s stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $21.01, for a total value of $105,050.00. Following the completion of the transaction, the chief financial officer directly owned 60,534 shares in the company, valued at approximately $1,271,819.34. This trade represents a 7.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Richardson Electronics Trading Down 6.4%

NASDAQ RELL traded down $1.33 during trading hours on Friday, reaching $19.60. The company had a trading volume of 98,341 shares, compared to its average volume of 211,205. The stock has a market capitalization of $291.63 million, a P/E ratio of 33.82, a price-to-earnings-growth ratio of 1.08 and a beta of 1.32. The stock has a 50-day moving average of $18.12 and a 200 day moving average of $15.71. Richardson Electronics, Ltd. has a 1-year low of $9.37 and a 1-year high of $23.15.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings data on Wednesday, October 7th. The technology company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.18. Richardson Electronics had a return on equity of 4.82% and a net margin of 3.57%. The business had revenue of $64.92 million during the quarter, compared to analysts’ expectations of $58.98 million. As a group, sell-side analysts predict that Richardson Electronics, Ltd. will post 0.78 EPS for the current year.

Richardson Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Friday, November 6th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, November 6th. Richardson Electronics’s payout ratio is 41.38%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Hsbc Holdings PLC acquired a new stake in shares of Richardson Electronics in the second quarter valued at about $208,000. Empowered Funds LLC acquired a new stake in shares of Richardson Electronics in the second quarter valued at approximately $419,000. Algert Global LLC grew its position in shares of Richardson Electronics by 88.4% in the second quarter. Algert Global LLC now owns 22,235 shares of the technology company’s stock valued at $423,000 after purchasing an additional 10,433 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Richardson Electronics during the 2nd quarter worth approximately $293,000. Finally, BlackRock Inc. acquired a new position in shares of Richardson Electronics during the 2nd quarter worth approximately $18,874,000. Hedge funds and other institutional investors own 71.95% of the company’s stock.

Analyst Upgrades and Downgrades

RELL has been the subject of a number of research analyst reports. Zacks Research raised Richardson Electronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Wall Street Zen upgraded shares of Richardson Electronics from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Northland Securities set a $26.00 target price on shares of Richardson Electronics in a research report on Tuesday, October 13th. Finally, Weiss Ratings raised Richardson Electronics from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Richardson Electronics presently has a consensus rating of “Buy” and a consensus target price of $26.00.

About Richardson Electronics

Richardson Electronics Ltd. (NASDAQ: RELL) is a global provider of engineered solutions, electronic components and replacement parts for specialized industrial and healthcare applications. The company serves original equipment manufacturers, government agencies, medical facilities, distributors and other commercial customers through its product portfolio and technical support services.

Its Power and Microwave Technologies business supplies components and systems used in power conversion, renewable energy, semiconductor manufacturing, aerospace and defense, telecommunications, and other industrial markets.