Richardson Electronics (NASDAQ:RELL) Shares Pass Above 200 Day Moving Average – What’s Next?

Richardson Electronics, Ltd. (NASDAQ:RELL)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.52 and traded as high as $14.47. Richardson Electronics shares last traded at $14.40, with a volume of 61,727 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RELL. Weiss Ratings upgraded Richardson Electronics from a “sell (d+)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Northland Securities set a $14.00 price target on Richardson Electronics in a report on Friday, April 10th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, Richardson Electronics presently has an average rating of “Hold” and an average price target of $14.00.

Richardson Electronics Stock Performance

The stock has a fifty day moving average price of $12.37 and a 200-day moving average price of $11.52. The firm has a market capitalization of $210.83 million, a PE ratio of 53.63, a P/E/G ratio of 2.26 and a beta of 1.23.

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

Richardson Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Friday, May 8th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, May 8th. Richardson Electronics’s payout ratio is 88.89%.

Insider Buying and Selling at Richardson Electronics

In other Richardson Electronics news, CFO Robert J. Ben sold 5,000 shares of the firm’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 completion of the transaction, the chief financial officer owned 57,034 shares of the company’s stock, valued at approximately $678,704.60. This trade represents a 8.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kenneth Halverson sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $13.09, for a total transaction of $130,900.00. Following the completion of the transaction, the director directly owned 14,345 shares of the company’s stock, valued at approximately $187,776.05. This represents a 41.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 19,000 shares of company stock worth $242,360. 33.40% of the stock is owned by company insiders.

Institutional Trading of Richardson Electronics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Granite Investment Partners LLC acquired a new stake in Richardson Electronics during the 1st quarter worth about $143,000. Ritholtz Wealth Management lifted its position in Richardson Electronics by 19.1% during the 1st quarter. Ritholtz Wealth Management now owns 22,958 shares of the technology company’s stock worth $251,000 after acquiring an additional 3,680 shares during the period. Aristides Capital LLC lifted its position in Richardson Electronics by 4.7% during the 4th quarter. Aristides Capital LLC now owns 20,940 shares of the technology company’s stock worth $228,000 after acquiring an additional 940 shares during the period. Empowered Funds LLC lifted its position in Richardson Electronics by 9.0% during the 4th quarter. Empowered Funds LLC now owns 19,142 shares of the technology company’s stock worth $208,000 after acquiring an additional 1,587 shares during the period. Finally, Bridgeway Capital Management LLC lifted its position in Richardson Electronics by 2.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 65,753 shares of the technology company’s stock worth $715,000 after acquiring an additional 1,587 shares during the period. Institutional investors and hedge funds own 71.95% of the company’s stock.

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.