Richardson Electronics (NASDAQ:RELL) CFO Robert Ben Sells 9,000 Shares

Richardson Electronics, Ltd. (NASDAQ:RELLGet Free Report) CFO Robert Ben sold 9,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $21.61, for a total value of $194,490.00. Following the completion of the transaction, the chief financial officer directly owned 60,534 shares of the company’s stock, valued at $1,308,139.74. The trade was a 12.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Richardson Electronics Trading Down 1.1%

Shares of RELL stock opened at $20.74 on Friday. The company has a market capitalization of $301.91 million, a P/E ratio of 47.14, a P/E/G ratio of 1.66 and a beta of 1.28. The business’s 50 day moving average is $17.78 and its two-hundred day moving average is $14.73. Richardson Electronics, Ltd. has a 12-month low of $9.37 and a 12-month high of $23.15.

Richardson Electronics (NASDAQ:RELLGet Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The technology company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.14. The business had revenue of $66.20 million during the quarter, compared to analysts’ expectations of $55.37 million. Richardson Electronics had a return on equity of 3.55% and a net margin of 2.79%. On average, research analysts predict that Richardson Electronics, Ltd. will post 0.5 earnings per share for the current fiscal year.

Richardson Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Friday, August 7th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, August 7th. This represents a $0.24 dividend on an annualized basis and a yield of 1.2%. Richardson Electronics’s dividend payout ratio is currently 54.55%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Zacks Research upgraded shares of Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. Northland Securities raised Richardson Electronics from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $14.00 to $24.00 in a research note on Tuesday, July 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Richardson Electronics in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $24.00.

Read Our Latest Analysis on Richardson Electronics

Institutional Trading of Richardson Electronics

Large investors have recently bought and sold shares of the business. Aristides Capital LLC increased its position in shares of Richardson Electronics by 4.7% during the fourth quarter. Aristides Capital LLC now owns 20,940 shares of the technology company’s stock valued at $228,000 after acquiring an additional 940 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Richardson Electronics by 7.6% during the 1st quarter. Empowered Funds LLC now owns 20,596 shares of the technology company’s stock worth $226,000 after purchasing an additional 1,454 shares during the period. Nuveen LLC boosted its position 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 worth $185,000 after purchasing an additional 1,507 shares during the period. Bridgeway Capital Management LLC increased its holdings in Richardson Electronics by 2.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 65,753 shares of the technology company’s stock valued at $715,000 after purchasing an additional 1,587 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in 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 valued at $40,000 after purchasing an additional 3,117 shares during the last quarter. Hedge funds and other institutional investors own 71.95% of the company’s stock.

Richardson Electronics Company Profile

(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.

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Insider Buying and Selling by Quarter for Richardson Electronics (NASDAQ:RELL)

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