Kathleen Mcnally Sells 6,636 Shares of Richardson Electronics (NASDAQ:RELL) Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) EVP Kathleen Mcnally sold 6,636 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $16.85, for a total transaction of $111,816.60. Following the transaction, the executive vice president owned 45,719 shares in the company, valued at $770,365.15. The trade was a 12.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Richardson Electronics Price Performance

Shares of NASDAQ RELL opened at $17.55 on Friday. Richardson Electronics, Ltd. has a one year low of $8.66 and a one year high of $19.86. The firm’s 50 day simple moving average is $13.42 and its two-hundred day simple moving average is $12.01. The stock has a market capitalization of $255.53 million, a P/E ratio of 65.00, a PEG ratio of 2.75 and a beta of 1.24.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings results 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 net margin of 1.75% and a return on equity of 2.83%. The business had revenue of $55.47 million for the quarter, compared to analysts’ expectations of $53.13 million. As a group, equities analysts expect that Richardson Electronics, Ltd. will post 0.25 earnings per share for the current fiscal year.

Richardson Electronics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders 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 annualized dividend and a dividend yield of 1.4%. Richardson Electronics’s dividend payout ratio (DPR) is currently 88.89%.

Analysts Set New Price Targets

RELL has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of 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 target price on shares of Richardson Electronics in a report on Friday, April 10th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $14.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Royce & Associates LP grew its holdings in shares of Richardson Electronics by 2.5% in the third quarter. Royce & Associates LP now owns 1,389,175 shares of the technology company’s stock worth $13,600,000 after purchasing an additional 34,000 shares during the last quarter. First Wilshire Securities Management Inc. grew its holdings in shares of Richardson Electronics by 13.9% in the first quarter. First Wilshire Securities Management Inc. now owns 671,998 shares of the technology company’s stock worth $7,358,000 after purchasing an additional 82,054 shares during the last quarter. State Street Corp grew its holdings in shares of Richardson Electronics by 1.9% in the fourth quarter. State Street Corp now owns 243,427 shares of the technology company’s stock worth $2,648,000 after purchasing an additional 4,629 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Richardson Electronics in the first quarter valued at $1,095,000. Finally, Bank of New York Mellon Corp boosted its holdings in Richardson Electronics by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 92,426 shares of the technology company’s stock valued at $1,012,000 after acquiring an additional 5,506 shares in the last quarter. Institutional investors 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.