Jacques Belin Sells 5,000 Shares of Richardson Electronics (NASDAQ:RELL) Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Jacques Belin sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $21.46, for a total value of $107,300.00. Following the completion of the sale, the director directly owned 22,365 shares in the company, valued at $479,952.90. This trade represents a 18.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Richardson Electronics Trading Down 0.4%

Shares of NASDAQ RELL opened at $20.66 on Friday. The company’s 50-day moving average price is $17.85 and its 200 day moving average price is $14.77. Richardson Electronics, Ltd. has a 52 week low of $9.37 and a 52 week high of $23.15. The stock has a market cap of $300.81 million, a price-to-earnings ratio of 46.96, a PEG ratio of 1.64 and a beta of 1.28.

Richardson Electronics (NASDAQ:RELL) last announced its earnings results on Wednesday, July 22nd. The technology company reported $0.21 earnings per share (EPS) 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 company had revenue of $66.20 million during the quarter, compared to analysts’ expectations of $55.37 million. As a group, research analysts expect that Richardson Electronics, Ltd. will post 0.5 earnings per share for the current year.

Richardson Electronics Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Richardson Electronics

Several institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC raised 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 acquiring an additional 3,117 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Richardson Electronics during the 2nd quarter worth $57,000. Los Angeles Capital Management LLC acquired a new stake in shares of Richardson Electronics during the fourth quarter worth $91,000. Engineers Gate Manager LP acquired a new stake in shares of Richardson Electronics during the second quarter worth $103,000. Finally, Deutsche Bank AG grew its position in shares of 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 purchasing an additional 6,858 shares during the period. Hedge funds and other institutional investors 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.