Richardson Electronics, Ltd. (NASDAQ:RELL – Get Free Report) Director Kenneth Halverson sold 4,200 shares of the stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $11.33, for a total value of $47,586.00. Following the completion of the sale, the director directly owned 14,345 shares of the company’s stock, valued at approximately $162,528.85. This represents a 22.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Richardson Electronics Trading Up 3.2%
Shares of Richardson Electronics stock opened at $11.30 on Tuesday. The stock has a 50-day moving average price of $10.10 and a 200 day moving average price of $9.59. The company has a market cap of $163.77 million, a P/E ratio of 1,131.13, a P/E/G ratio of 1.68 and a beta of 0.97. Richardson Electronics, Ltd. has a 1 year low of $7.57 and a 1 year high of $15.51.
Richardson Electronics (NASDAQ:RELL – Get Free Report) last announced its quarterly earnings data on Wednesday, October 8th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.11. Richardson Electronics had a return on equity of 2.91% and a net margin of 0.08%.The firm had revenue of $54.61 million during the quarter, compared to the consensus estimate of $51.51 million. During the same period in the prior year, the business earned $0.04 EPS. On average, equities analysts forecast that Richardson Electronics, Ltd. will post 0.27 earnings per share for the current fiscal year.
Richardson Electronics Announces Dividend
Institutional Trading of Richardson Electronics
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RELL. Founders Capital Management lifted its position in shares of Richardson Electronics by 22.6% in the 2nd quarter. Founders Capital Management now owns 6,500 shares of the technology company’s stock worth $63,000 after acquiring an additional 1,200 shares during the period. Wedbush Securities Inc. lifted its position in shares of Richardson Electronics by 15.3% in the 2nd quarter. Wedbush Securities Inc. now owns 14,814 shares of the technology company’s stock worth $143,000 after acquiring an additional 1,970 shares during the period. American Century Companies Inc. lifted its position in shares of Richardson Electronics by 11.8% in the 1st quarter. American Century Companies Inc. now owns 27,172 shares of the technology company’s stock worth $303,000 after acquiring an additional 2,860 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Richardson Electronics by 298.8% in the 2nd 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 period. Finally, ARS Investment Partners LLC lifted its position in shares of Richardson Electronics by 11.7% in the 2nd quarter. ARS Investment Partners LLC now owns 50,944 shares of the technology company’s stock worth $492,000 after acquiring an additional 5,353 shares during the period. Institutional investors and hedge funds own 71.95% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. Zacks Research raised Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Richardson Electronics in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold”.
Read Our Latest Research Report on Richardson Electronics
About Richardson Electronics
Richardson Electronics, Ltd. engages in the provision of engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and radio frequency (RF), microwave and power components used in semiconductor manufacturing equipment, RF, and wireless and industrial power applications, as well as various applications including broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology.
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