Richardson Electronics (NASDAQ:RELL) COO Sells $478,020.00 in Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) COO Wendy Diddell sold 23,901 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $20.00, for a total transaction of $478,020.00. Following the completion of the transaction, the chief operating officer directly owned 114,150 shares of the company’s stock, valued at $2,283,000. The trade was a 17.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Richardson Electronics Trading Down 0.4%

NASDAQ:RELL opened at $20.66 on Friday. Richardson Electronics, Ltd. has a 12-month low of $9.37 and a 12-month high of $23.15. The firm has a market cap of $300.81 million, a price-to-earnings ratio of 46.96, a price-to-earnings-growth ratio of 1.64 and a beta of 1.28. The company’s 50-day moving average is $17.85 and its two-hundred day moving average is $14.77.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.14. Richardson Electronics had a return on equity of 3.55% and a net margin of 2.79%.The firm had revenue of $66.20 million for the quarter, compared to analyst estimates of $55.37 million. On average, equities research analysts forecast that Richardson Electronics, Ltd. will post 0.5 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, August 26th. Stockholders of record on Friday, August 7th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.24 annualized dividend and a dividend yield of 1.2%. Richardson Electronics’s dividend payout ratio is presently 54.55%.

Hedge Funds Weigh In On Richardson Electronics

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Richardson Electronics in the second quarter worth $18,874,000. Deutsche Bank AG bought a new position in shares of Richardson Electronics in the 2nd quarter worth about $230,000. AIGH Capital Management LLC bought a new position in shares of Richardson Electronics in the 2nd quarter worth about $3,810,000. Bank of New York Mellon Corp acquired a new position in shares of Richardson Electronics in the 2nd quarter valued at about $1,995,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Richardson Electronics in the 2nd quarter valued at about $630,000. 71.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

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.