Richardson Electronics (NASDAQ:RELL) Director Sells $26,205.00 in Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Kenneth Halverson sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $17.47, for a total value of $26,205.00. Following the completion of the sale, the director directly owned 10,865 shares of the company’s stock, valued at $189,811.55. This represents a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Richardson Electronics Stock Down 2.0%

Shares of Richardson Electronics stock traded down $0.34 during trading on Monday, reaching $16.87. The company’s stock had a trading volume of 97,691 shares, compared to its average volume of 203,647. The business has a 50 day moving average price of $18.34 and a 200-day moving average price of $15.36. Richardson Electronics, Ltd. has a 12-month low of $9.37 and a 12-month high of $23.15. The company has a market capitalization of $247.82 million, a P/E ratio of 38.34, a price-to-earnings-growth ratio of 1.36 and a beta of 1.28.

Richardson Electronics (NASDAQ:RELL) last released its earnings results on Wednesday, July 22nd. The technology company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 3.55% and a net margin of 2.79%. Research analysts predict that Richardson Electronics, Ltd. will post 0.5 EPS for the current fiscal year.

Richardson Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Friday, August 7th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, August 7th. Richardson Electronics’s dividend payout ratio (DPR) is currently 54.55%.

Institutional Investors Weigh In On Richardson Electronics

Several institutional investors and hedge funds have recently made changes to their positions in RELL. BlackRock Inc. acquired a new stake in shares of Richardson Electronics during the second quarter valued at $18,874,000. AIGH Capital Management LLC acquired a new position in Richardson Electronics in the 2nd quarter valued at about $3,810,000. Bank of New York Mellon Corp acquired a new position in Richardson Electronics in the 2nd quarter valued at about $1,995,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Richardson Electronics in the 1st quarter valued at about $1,095,000. Finally, First Wilshire Securities Management Inc. lifted its holdings in 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 valued at $7,358,000 after purchasing an additional 82,054 shares in the last quarter. 71.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on RELL shares. Northland Securities raised shares of Richardson Electronics from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $14.00 to $24.00 in a report on Tuesday, July 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Richardson Electronics in a research report on Monday, July 20th. Zacks Research raised Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Finally, Wall Street Zen upgraded Richardson Electronics from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price 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.