Richardson Electronics, Ltd. (NASDAQ:RELL) Plans Quarterly Dividend of $0.06

Richardson Electronics, Ltd. (NASDAQ:RELL) declared a quarterly dividend on Wednesday, April 8th. Investors of record on Friday, May 8th will be given a dividend of 0.06 per share by the technology company on Wednesday, May 27th. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, May 8th.

Richardson Electronics has a payout ratio of 43.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Richardson Electronics to earn $0.84 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 28.6%.

Richardson Electronics Stock Up 4.9%

NASDAQ:RELL opened at $11.76 on Thursday. Richardson Electronics has a 1-year low of $7.57 and a 1-year high of $15.34. The firm has a market capitalization of $170.76 million, a price-to-earnings ratio of 235.25, a price-to-earnings-growth ratio of 1.75 and a beta of 1.13. The stock has a fifty day simple moving average of $11.93 and a 200 day simple moving average of $11.11.

Richardson Electronics (NASDAQ:RELL) last released its quarterly earnings results on Wednesday, April 8th. The technology company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. Richardson Electronics had a return on equity of 3.30% and a net margin of 0.38%.The business had revenue of $55.47 million during the quarter, compared to analyst estimates of $53.13 million. Equities analysts predict that Richardson Electronics will post 0.27 earnings per share for the current year.

Insiders Place Their Bets

In other Richardson Electronics news, CFO Robert J. Ben sold 4,000 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $12.99, for a total transaction of $51,960.00. Following the completion of the sale, the chief financial officer directly owned 53,034 shares in the company, valued at approximately $688,911.66. This trade represents a 7.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kenneth Halverson sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $13.09, for a total value of $130,900.00. Following the sale, the director owned 14,345 shares of the company’s stock, valued at $187,776.05. The trade was a 41.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 36,000 shares of company stock worth $447,890. 33.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Richardson Electronics

A number of institutional investors have recently bought and sold shares of RELL. AMH Equity Ltd acquired a new stake in Richardson Electronics during the 3rd quarter worth about $783,000. Marshall Wace LLP purchased a new stake in shares of Richardson Electronics during the 4th quarter worth about $626,000. Walleye Capital LLC purchased a new stake in shares of Richardson Electronics during the 4th quarter worth about $497,000. Susquehanna International Group LLP raised its stake in shares of Richardson Electronics by 840.6% during the 3rd quarter. Susquehanna International Group LLP now owns 48,740 shares of the technology company’s stock worth $477,000 after purchasing an additional 43,558 shares in the last quarter. Finally, Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of Richardson Electronics during the 4th quarter worth about $462,000. 71.95% of the stock is currently owned by institutional investors and hedge funds.

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.