Richardson Electronics (NASDAQ:RELL) CFO Sells $194,490.00 in Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) CFO Robert Ben sold 9,000 shares of Richardson Electronics stock in a transaction on Tuesday, August 4th. The shares were 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 owned 60,534 shares in the company, valued at $1,308,139.74. The trade was a 12.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Richardson Electronics Price Performance

RELL stock traded down $0.24 during trading on Thursday, reaching $20.74. 633,696 shares of the stock traded hands, compared to its average volume of 204,430. The business’s 50 day moving average price is $17.71 and its 200-day moving average price is $14.66. The firm has a market capitalization of $301.97 million, a PE ratio of 47.14, a P/E/G ratio of 1.69 and a beta of 1.28. Richardson Electronics, Ltd. has a 52-week low of $9.37 and a 52-week high of $23.15.

Richardson Electronics (NASDAQ:RELL) last released its quarterly earnings data on Wednesday, July 22nd. The technology company reported $0.21 earnings per share for the quarter, beating 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 business had revenue of $66.20 million for the quarter, compared to analyst estimates of $55.37 million. On average, equities research analysts predict that Richardson Electronics, Ltd. will post 0.5 earnings per share for the current year.

Richardson Electronics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Friday, August 7th will be issued a $0.06 dividend. The ex-dividend date is Friday, August 7th. This represents a $0.24 annualized dividend and a yield of 1.2%. Richardson Electronics’s dividend payout ratio (DPR) is presently 54.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Northland Securities upgraded shares of Richardson Electronics from a “market perform” rating to an “outperform” rating and boosted their price objective 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 note on Monday, July 20th. Finally, Zacks Research upgraded shares of Richardson Electronics from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. One investment 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. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $24.00.

Institutional Investors Weigh In On Richardson Electronics

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its holdings in shares of 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 valued at $40,000 after buying an additional 3,117 shares during the period. Raymond James Financial Inc. purchased a new position in Richardson Electronics in the 2nd quarter worth approximately $57,000. Los Angeles Capital Management LLC acquired a new stake in Richardson Electronics in the fourth quarter valued at approximately $91,000. Engineers Gate Manager LP acquired a new stake in Richardson Electronics in the second quarter valued at approximately $103,000. Finally, Deutsche Bank AG grew its position in Richardson Electronics by 150.3% in the fourth quarter. Deutsche Bank AG now owns 11,421 shares of the technology company’s stock valued at $124,000 after acquiring an additional 6,858 shares in the last quarter. Institutional investors and hedge funds own 71.95% of the company’s stock.

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.