Richardson Electronics (NASDAQ:RELL) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Richardson Electronics, Ltd. (NASDAQ:RELL)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.00 and traded as high as $11.62. Richardson Electronics shares last traded at $11.33, with a volume of 59,952 shares trading hands.

Analysts Set New Price Targets

Several analysts recently weighed in on RELL shares. Northland Securities set a $11.00 price objective on Richardson Electronics in a report on Thursday, January 22nd. Zacks Research lowered shares of Richardson Electronics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Finally, Weiss Ratings cut shares of Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, January 9th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $11.00.

Richardson Electronics Stock Performance

The stock has a market capitalization of $168.84 million, a PE ratio of 232.65, a PEG ratio of 1.81 and a beta of 1.09. The business has a 50 day moving average of $11.91 and a two-hundred day moving average of $11.02.

Richardson Electronics (NASDAQ:RELL) last posted its earnings results on Wednesday, January 7th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $52.29 million for the quarter, compared to analyst estimates of $49.90 million. Richardson Electronics had a return on equity of 3.30% and a net margin of 0.38%.During the same quarter in the previous year, the firm earned ($0.05) earnings per share. On average, equities analysts expect that Richardson Electronics, Ltd. will post 0.27 EPS for the current fiscal year.

Richardson Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Friday, February 6th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.1%. Richardson Electronics’s payout ratio is presently 480.00%.

Insider Buying and Selling

In related news, Director Kenneth Halverson sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $13.09, for a total transaction of $130,900.00. Following the completion of the sale, the director owned 14,345 shares of the company’s stock, valued at $187,776.05. This represents a 41.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert J. Ben sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $11.90, for a total transaction of $59,500.00. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 36,000 shares of company stock worth $447,890 in the last 90 days. 33.40% of the stock is owned by corporate insiders.

Institutional Trading of Richardson Electronics

Institutional investors have recently made changes to their positions in the business. Aristides Capital LLC grew its stake 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 buying an additional 940 shares during the last quarter. Nuveen LLC raised its stake in Richardson Electronics by 9.7% in the fourth quarter. Nuveen LLC now owns 16,970 shares of the technology company’s stock valued at $185,000 after buying an additional 1,507 shares during the last quarter. Empowered Funds LLC boosted its holdings in Richardson Electronics by 9.0% in the fourth 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 in the last quarter. Bridgeway Capital Management LLC grew its stake in shares of Richardson Electronics by 2.5% during the fourth 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 last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Richardson Electronics by 298.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company’s stock worth $40,000 after acquiring an additional 3,117 shares during the last quarter. 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.