Richardson Electronics, Ltd. (RELL) To Go Ex-Dividend on August 7th

Richardson Electronics, Ltd. (NASDAQ:RELLGet Free Report) announced a quarterly dividend on Tuesday, July 21st. Shareholders of record on Friday, August 7th will be given a dividend of 0.06 per share by the technology company on Wednesday, August 26th. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 7th.

Richardson Electronics has a payout ratio of 43.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Richardson Electronics to earn $0.74 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 32.4%.

Richardson Electronics Stock Performance

Shares of RELL opened at $21.38 on Wednesday. The firm has a market cap of $311.29 million, a PE ratio of 48.59, a price-to-earnings-growth ratio of 1.56 and a beta of 1.28. Richardson Electronics has a 52-week low of $9.37 and a 52-week high of $23.15. The business’s 50 day moving average price is $17.64 and its two-hundred day moving average price is $14.59.

Richardson Electronics (NASDAQ:RELLGet Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The technology company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.07 by $0.14. The company had revenue of $66.20 million during the quarter, compared to the consensus estimate of $55.37 million. Richardson Electronics had a net margin of 2.79% and a return on equity of 3.57%. Research analysts predict that Richardson Electronics will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling at Richardson Electronics

In other Richardson Electronics news, Director Robert H. Kluge sold 29,000 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $17.90, for a total value of $519,100.00. Following the completion of the transaction, the director owned 51,365 shares in the company, valued at $919,433.50. This trade represents a 36.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert J. Ben sold 7,500 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $20.00, for a total transaction of $150,000.00. Following the transaction, the chief financial officer directly owned 60,534 shares in the company, valued at approximately $1,210,680. This represents a 11.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 97,800 shares of company stock valued at $1,816,687 in the last three months. 33.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Richardson Electronics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aristides Capital LLC boosted its position in Richardson Electronics by 4.7% during the 4th quarter. Aristides Capital LLC now owns 20,940 shares of the technology company’s stock valued at $228,000 after buying an additional 940 shares during the period. Empowered Funds LLC raised its stake in shares of Richardson Electronics by 7.6% during the first quarter. Empowered Funds LLC now owns 20,596 shares of the technology company’s stock valued at $226,000 after acquiring an additional 1,454 shares during the last quarter. Nuveen LLC raised its stake in shares of Richardson Electronics by 9.7% during the fourth quarter. Nuveen LLC now owns 16,970 shares of the technology company’s stock valued at $185,000 after acquiring an additional 1,507 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Richardson Electronics by 2.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 65,753 shares of the technology company’s stock worth $715,000 after purchasing an additional 1,587 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Richardson Electronics by 298.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company’s stock worth $40,000 after purchasing an additional 3,117 shares during the period. 71.95% of the stock is currently owned by institutional investors.

About Richardson Electronics

(Get Free Report)

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.

See Also

Dividend History for Richardson Electronics (NASDAQ:RELL)

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