Kenneth Halverson Sells 10,000 Shares of Richardson Electronics (NASDAQ:RELL) Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Kenneth Halverson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $14.69, for a total value of $146,900.00. Following the transaction, the director owned 14,345 shares in the company, valued at approximately $210,728.05. This represents a 41.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Kenneth Halverson also recently made the following trade(s):

• On Thursday, February 12th, Kenneth Halverson sold 10,000 shares of Richardson Electronics stock. The stock was sold at an average price of $13.09, for a total value of $130,900.00.

Richardson Electronics Stock Performance

RELL opened at $15.38 on Friday. Richardson Electronics, Ltd. has a one year low of $8.66 and a one year high of $15.61. The stock has a market capitalization of $223.93 million, a PE ratio of 56.97, a P/E/G ratio of 2.33 and a beta of 1.24. The business’s 50 day moving average price is $12.46 and its 200 day moving average price is $11.59.

Richardson Electronics (NASDAQ:RELL) last released its quarterly earnings data on Wednesday, April 8th. The technology company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $53.13 million. As a group, equities research analysts forecast that Richardson Electronics, Ltd. will post 0.25 earnings per share for the current fiscal year.

Richardson Electronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Friday, May 8th will be issued a $0.06 dividend. The ex-dividend date is Friday, May 8th. This represents a $0.24 dividend on an annualized basis and a yield of 1.6%. Richardson Electronics’s dividend payout ratio is currently 88.89%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Richardson Electronics during the first quarter worth $1,095,000. Bank of New York Mellon Corp lifted its stake in Richardson Electronics by 6.3% during the first quarter. Bank of New York Mellon Corp now owns 92,426 shares of the technology company’s stock worth $1,012,000 after purchasing an additional 5,506 shares in the last quarter. Granite Investment Partners LLC acquired a new position in Richardson Electronics during the first quarter worth $143,000. Ritholtz Wealth Management lifted its stake in Richardson Electronics by 19.1% during the first quarter. Ritholtz Wealth Management now owns 22,958 shares of the technology company’s stock worth $251,000 after purchasing an additional 3,680 shares in the last quarter. Finally, Aristides Capital LLC lifted its stake in Richardson Electronics by 4.7% during the fourth quarter. Aristides Capital LLC now owns 20,940 shares of the technology company’s stock worth $228,000 after purchasing an additional 940 shares in the last quarter. 71.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RELL shares. 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 objective on Richardson Electronics in a report on Friday, April 10th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $14.00.

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.