Richardson Electronics (NASDAQ:RELL) Stock: Insider Robert Ben Sells 5,000 Shares

Richardson Electronics, Ltd. (NASDAQ:RELL) CFO Robert Ben sold 5,000 shares of Richardson Electronics stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $21.01, for a total transaction of $105,050.00. Following the completion of the transaction, the chief financial officer owned 60,534 shares of the company’s stock, valued at $1,271,819.34. This represents a 7.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Richardson Electronics Stock Down 5.7%

NASDAQ RELL opened at $19.74 on Friday. Richardson Electronics, Ltd. has a 52 week low of $9.37 and a 52 week high of $23.15. The firm has a 50 day moving average of $18.16 and a two-hundred day moving average of $15.75. The stock has a market capitalization of $293.73 million, a PE ratio of 34.04, a price-to-earnings-growth ratio of 1.01 and a beta of 1.32.

Richardson Electronics (NASDAQ:RELL) last announced its quarterly earnings data on Wednesday, October 7th. The technology company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.18. The business had revenue of $64.92 million for the quarter, compared to analyst estimates of $58.98 million. Richardson Electronics had a net margin of 3.57% and a return on equity of 4.82%. On average, equities research analysts expect that Richardson Electronics, Ltd. will post 0.78 earnings per share for the current fiscal year.

Richardson Electronics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Friday, November 6th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, November 6th. Richardson Electronics’s dividend payout ratio is 41.38%.

Wall Street Analyst Weigh In

RELL has been the subject of a number of recent analyst reports. Weiss Ratings raised Richardson Electronics from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Northland Securities set a $26.00 target price on Richardson Electronics in a research report on Tuesday, October 13th. Zacks Research upgraded Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 27th. Finally, Wall Street Zen raised Richardson Electronics from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $26.00.

Institutional Trading of Richardson Electronics

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

About Richardson Electronics

Richardson Electronics Ltd. (NASDAQ: RELL) is a global provider of engineered solutions, electronic components and replacement parts for specialized industrial and healthcare applications. The company serves original equipment manufacturers, government agencies, medical facilities, distributors and other commercial customers through its product portfolio and technical support services.

Its Power and Microwave Technologies business supplies components and systems used in power conversion, renewable energy, semiconductor manufacturing, aerospace and defense, telecommunications, and other industrial markets.