Key Points
- CFO Robert Ben sold 5,000 shares at an average price of $11.90 on Feb. 4 for $59,500, reducing his stake by 8.06% to 57,034 shares (about $678,705).
- The company declared a quarterly dividend of $0.06 per share (2.1% yield) despite a very high payout ratio of 480%, and reported Q4 EPS of ($0.01) that matched estimates while revenue of $52.29M beat expectations.
- Richardson Electronics has a market cap near $165M, a high P/E (~227), institutional ownership of about 71.95%, and a consensus analyst rating of "Reduce" with a $11.00 price target.
Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) CFO Robert Ben sold 5,000 shares of the business's stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $11.90, for a total value of $59,500.00. Following the transaction, the chief financial officer owned 57,034 shares of the company's stock, valued at approximately $678,704.60. The trade was a 8.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Richardson Electronics Stock Up 4.8%
NASDAQ:RELL opened at $11.36 on Friday. The stock has a market cap of $164.95 million, a P/E ratio of 227.25, a PEG ratio of 1.70 and a beta of 1.09. The business's 50-day moving average price is $10.98 and its two-hundred day moving average price is $10.47. Richardson Electronics, Ltd. has a twelve month low of $7.57 and a twelve month high of $13.60.
Richardson Electronics (NASDAQ:RELL - Get Free Report) last issued its quarterly earnings data on Wednesday, January 7th. The technology company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $52.29 million during the quarter, compared to analyst estimates of $49.90 million. Richardson Electronics had a return on equity of 3.30% and a net margin of 0.38%.During the same quarter in the previous year, the firm earned ($0.05) earnings per share. On average, equities research analysts expect that Richardson Electronics, Ltd. will post 0.27 EPS for the current fiscal year.
Richardson Electronics Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Friday, February 6th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, February 6th. This represents a $0.24 annualized dividend and a dividend yield of 2.1%. Richardson Electronics's dividend payout ratio (DPR) is 480.00%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in Richardson Electronics by 7.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company's stock valued at $950,000 after buying an additional 5,802 shares during the period. Jane Street Group LLC bought a new position in shares of Richardson Electronics during the first quarter valued at about $198,000. Acadian Asset Management LLC boosted its holdings in shares of Richardson Electronics by 17.0% during the first quarter. Acadian Asset Management LLC now owns 83,273 shares of the technology company's stock worth $928,000 after purchasing an additional 12,097 shares during the period. Wedbush Securities Inc. grew its stake in shares of Richardson Electronics by 15.3% in the second quarter. Wedbush Securities Inc. now owns 14,814 shares of the technology company's stock worth $143,000 after purchasing an additional 1,970 shares during the last quarter. Finally, ARS Investment Partners LLC raised its position in Richardson Electronics by 11.7% during the 2nd quarter. ARS Investment Partners LLC now owns 50,944 shares of the technology company's stock valued at $492,000 after purchasing an additional 5,353 shares during the last quarter. Institutional investors own 71.95% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the company. Northland Securities set a $11.00 price target on Richardson Electronics in a research report on Thursday, January 22nd. Zacks Research downgraded Richardson Electronics from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 9th. Finally, Weiss Ratings cut shares of Richardson Electronics from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, January 9th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Richardson Electronics currently has a consensus rating of "Reduce" and a consensus price target of $11.00.
Check Out Our Latest Analysis on Richardson Electronics
About Richardson Electronics
(
Get Free Report)
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.
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