Richardson Electronics, Ltd. (NASDAQ:RELL – Get Free Report) Director Jacques Belin sold 5,000 shares of Richardson Electronics stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $21.46, for a total transaction of $107,300.00. Following the transaction, the director owned 22,365 shares of the company’s stock, valued at approximately $479,952.90. The trade was a 18.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Richardson Electronics Price Performance
Shares of NASDAQ RELL traded down $0.24 on Thursday, hitting $20.74. The company’s stock had a trading volume of 633,696 shares, compared to its average volume of 204,430. The stock has a 50 day moving average of $17.71 and a 200-day moving average of $14.66. The company has a market capitalization of $301.97 million, a price-to-earnings ratio of 47.14, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. Richardson Electronics, Ltd. has a 12-month low of $9.37 and a 12-month high of $23.15.
Richardson Electronics (NASDAQ:RELL – Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The technology company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.14. Richardson Electronics had a net margin of 2.79% and a return on equity of 3.55%. The business had revenue of $66.20 million during the quarter, compared to analysts’ expectations of $55.37 million. Sell-side analysts expect that Richardson Electronics, Ltd. will post 0.5 EPS for the current fiscal year.
Richardson Electronics Announces Dividend
Hedge Funds Weigh In On Richardson Electronics
Several large investors have recently added to or reduced their stakes in RELL. Aristides Capital LLC grew its stake in Richardson Electronics by 4.7% during the fourth quarter. Aristides Capital LLC now owns 20,940 shares of the technology company’s stock worth $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% in the 1st 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 period. Nuveen LLC lifted its holdings in shares of Richardson Electronics by 9.7% during the 4th 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 in the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Richardson Electronics by 2.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 65,753 shares of the technology company’s stock valued at $715,000 after acquiring an additional 1,587 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Richardson Electronics by 298.8% during the 2nd 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 hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts recently weighed in on RELL shares. Weiss Ratings reissued a “hold (c)” rating on shares of Richardson Electronics in a research note on Monday, July 20th. Zacks Research raised shares of Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Finally, Northland Securities upgraded shares of Richardson Electronics from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $14.00 to $24.00 in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $24.00.
Check Out Our Latest Stock Report on Richardson Electronics
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.
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