James Benham Sells 3,020 Shares of Richardson Electronics (NASDAQ:RELL) Stock

Richardson Electronics, Ltd. (NASDAQ:RELLGet Free Report) Director James Benham sold 3,020 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $17.99, for a total transaction of $54,329.80. Following the completion of the transaction, the director directly owned 19,345 shares of the company’s stock, valued at approximately $348,016.55. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

James Benham also recently made the following trade(s):

  • On Wednesday, July 29th, James Benham sold 164 shares of Richardson Electronics stock. The stock was sold at an average price of $19.06, for a total transaction of $3,125.84.

Richardson Electronics Stock Performance

Richardson Electronics stock opened at $17.21 on Friday. The stock’s 50 day simple moving average is $18.34 and its two-hundred day simple moving average is $15.34. The stock has a market cap of $252.81 million, a price-to-earnings ratio of 39.11, a PEG ratio of 1.36 and a beta of 1.28. Richardson Electronics, Ltd. has a fifty-two week low of $9.37 and a fifty-two week high of $23.15.

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

Richardson Electronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Friday, August 7th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, August 7th. Richardson Electronics’s dividend payout ratio is presently 54.55%.

Analyst Ratings Changes

A number of analysts have recently commented on RELL shares. Zacks Research upgraded shares of Richardson Electronics from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Northland Securities upgraded shares of Richardson Electronics from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $14.00 to $24.00 in a research note on Tuesday, July 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Richardson Electronics in a research report on Monday, July 20th. Finally, Wall Street Zen raised shares of Richardson Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Richardson Electronics currently has a consensus rating of “Buy” and a consensus target price of $24.00.

View Our Latest Stock Analysis on Richardson Electronics

Institutional Investors Weigh In On Richardson Electronics

A number of institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC purchased a new position in shares of Richardson Electronics in the 2nd quarter worth about $208,000. Empowered Funds LLC bought a new stake in Richardson Electronics during the 2nd quarter valued at about $419,000. Algert Global LLC raised its holdings in Richardson Electronics by 88.4% in the second quarter. Algert Global LLC now owns 22,235 shares of the technology company’s stock worth $423,000 after buying an additional 10,433 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Richardson Electronics in the second quarter worth approximately $293,000. Finally, BlackRock Inc. purchased a new stake in shares of Richardson Electronics during the second quarter valued at approximately $18,874,000. 71.95% of the stock is owned by hedge funds and other 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.

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

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