Insider Selling: Richardson Electronics (NASDAQ:RELL) Director Sells $21,190.00 in Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Kenneth Halverson sold 1,000 shares of the firm’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $21.19, for a total value of $21,190.00. Following the sale, the director directly owned 9,865 shares in the company, valued at $209,039.35. This trade represents a 9.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Kenneth Halverson also recently made the following trade(s):

• On Thursday, August 20th, Kenneth Halverson sold 1,500 shares of Richardson Electronics stock. The shares were sold at an average price of $17.47, for a total transaction of $26,205.00.

Richardson Electronics Price Performance

Shares of RELL opened at $19.56 on Thursday. Richardson Electronics, Ltd. has a 1-year low of $9.37 and a 1-year high of $23.15. The stock has a market cap of $291.05 million, a PE ratio of 38.28, a price-to-earnings-growth ratio of 1.06 and a beta of 1.28. The firm has a fifty day moving average price of $18.34 and a 200 day moving average price of $15.89.

Richardson Electronics (NASDAQ:RELL) last announced its earnings results on Wednesday, October 7th. The technology company reported $0.27 EPS 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 analysts’ expectations of $58.98 million. Richardson Electronics had a net margin of 3.57% and a return on equity of 4.82%. As a group, equities analysts expect that Richardson Electronics, Ltd. will post 0.78 EPS for the current fiscal year.

Richardson Electronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Friday, November 6th will be issued a dividend of $0.06 per share. 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 currently 41.38%.

Analyst Ratings Changes

A number of research firms recently weighed in on RELL. Northland Securities set a $26.00 price target on Richardson Electronics in a research note on Tuesday, October 13th. Zacks Research upgraded shares of Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 27th. Weiss Ratings upgraded shares of Richardson Electronics from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Finally, Wall Street Zen raised 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 and two have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $26.00.

Hedge Funds Weigh In On Richardson Electronics

Several hedge funds have recently bought and sold shares of RELL. BlackRock Inc. purchased a new stake in shares of Richardson Electronics in the second quarter valued at $18,874,000. AIGH Capital Management LLC purchased a new stake in Richardson Electronics in the second quarter valued at approximately $3,810,000. Bank of New York Mellon Corp acquired a new position in Richardson Electronics during the second quarter worth approximately $1,995,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Richardson Electronics in the 1st quarter valued at $1,095,000. Finally, First Wilshire Securities Management Inc. grew its stake in shares of Richardson Electronics by 13.9% during the 1st quarter. First Wilshire Securities Management Inc. now owns 671,998 shares of the technology company’s stock valued at $7,358,000 after buying an additional 82,054 shares during the period. Hedge funds and other institutional investors own 71.95% of the company’s stock.

Richardson Electronics Company Profile

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.