Richardson Electronics (NASDAQ:RELL) Shares Pass Above 200-Day Moving Average – Should You Sell?

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 $11.77 and traded as high as $17.90. Richardson Electronics shares last traded at $17.50, with a volume of 599,701 shares changing hands.

Wall Street Analyst Weigh In

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

Richardson Electronics Trading Down 3.1%

The stock has a market cap of $246.89 million, a price-to-earnings ratio of 62.82, a PEG ratio of 2.75 and a beta of 1.24. The stock has a 50-day moving average price of $12.89 and a two-hundred day moving average price of $11.81.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings data 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 firm had revenue of $55.47 million during the quarter, compared to analysts’ expectations of $53.13 million. Richardson Electronics had a return on equity of 2.83% and a net margin of 1.75%. Research analysts predict that Richardson Electronics, Ltd. will post 0.25 earnings per share for the current fiscal year.

Richardson Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Friday, May 8th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $0.24 dividend on an annualized basis and a yield of 1.4%. Richardson Electronics’s payout ratio is currently 88.89%.

Insider Transactions at Richardson Electronics

In other Richardson Electronics news, CFO Robert J. Ben sold 4,000 shares of Richardson Electronics stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $12.99, for a total transaction of $51,960.00. Following the completion of the sale, the chief financial officer owned 53,034 shares of the company’s stock, valued at approximately $688,911.66. The trade was a 7.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kenneth Halverson sold 10,000 shares of Richardson Electronics stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $14.69, for a total value of $146,900.00. Following the sale, the director directly owned 14,345 shares of the company’s stock, valued at approximately $210,728.05. This represents a 41.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 33.40% of the company’s stock.

Institutional Trading of Richardson Electronics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP lifted its position in Richardson Electronics by 2.5% during the 3rd quarter. Royce & Associates LP now owns 1,389,175 shares of the technology company’s stock worth $13,600,000 after acquiring an additional 34,000 shares during the period. First Wilshire Securities Management Inc. lifted its position in Richardson Electronics by 13.9% during 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. State Street Corp lifted its position in Richardson Electronics by 1.9% during the 4th quarter. State Street Corp now owns 243,427 shares of the technology company’s stock worth $2,648,000 after acquiring an additional 4,629 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Richardson Electronics during the 1st quarter worth about $1,095,000. Finally, Bank of New York Mellon Corp lifted its position in Richardson Electronics by 6.3% during the 1st quarter. Bank of New York Mellon Corp now owns 92,426 shares of the technology company’s stock worth $1,012,000 after acquiring an additional 5,506 shares during the period. Institutional investors and hedge funds own 71.95% of the company’s stock.

Richardson Electronics Company Profile

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.