Richardson Electronics (NASDAQ:RELL) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Richardson Electronics, Ltd. (NASDAQ:RELL) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.90 and traded as high as $14.64. Richardson Electronics shares last traded at $14.45, with a volume of 66,244 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Richardson Electronics from a “sell” rating to a “hold” rating in a report on Friday, July 26th.

Richardson Electronics Trading Down 0.2 %

The company has a fifty day simple moving average of $12.83 and a 200-day simple moving average of $11.90. The stock has a market cap of $207.81 million, a price-to-earnings ratio of -289.00, a P/E/G ratio of 3.01 and a beta of 0.95.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings data on Wednesday, October 9th. The technology company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.05. The firm had revenue of $53.73 million for the quarter, compared to the consensus estimate of $49.45 million. Richardson Electronics had a negative return on equity of 0.24% and a negative net margin of 0.40%. During the same quarter in the previous year, the company earned $0.09 EPS. As a group, analysts anticipate that Richardson Electronics, Ltd. will post 0.33 earnings per share for the current year.

Richardson Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 8th will be issued a $0.06 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.66%. Richardson Electronics’s dividend payout ratio is -480.00%.

Insider Activity

In other Richardson Electronics news, Director James Benham bought 4,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were bought at an average price of $13.29 per share, for a total transaction of $59,805.00. Following the acquisition, the director now directly owns 13,706 shares of the company’s stock, valued at approximately $182,152.74. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 32.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Richardson Electronics

A number of hedge funds have recently added to or reduced their stakes in RELL. BNP Paribas Financial Markets increased its holdings in Richardson Electronics by 98.1% in the first quarter. BNP Paribas Financial Markets now owns 6,730 shares of the technology company’s stock worth $62,000 after buying an additional 3,333 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Richardson Electronics in the first quarter worth approximately $42,000. Vanguard Group Inc. increased its holdings in Richardson Electronics by 4.1% in the first quarter. Vanguard Group Inc. now owns 589,790 shares of the technology company’s stock worth $5,432,000 after buying an additional 23,266 shares during the last quarter. Covestor Ltd increased its holdings in Richardson Electronics by 31,565.5% in the first quarter. Covestor Ltd now owns 44,965 shares of the technology company’s stock worth $415,000 after buying an additional 44,823 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in Richardson Electronics in the first quarter worth approximately $109,000. Institutional investors and hedge funds own 71.95% of the company’s stock.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. engages in the provision of engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and radio frequency (RF), microwave and power components used in semiconductor manufacturing equipment, RF, and wireless and industrial power applications, as well as various applications including broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology.