Key Points
- Kenneth Halverson sold 10,000 shares of Richardson Electronics on Feb. 12 at an average price of $13.09, reducing his stake by 41.08% to 14,345 shares valued at about $187,776 (SEC filing disclosed).
- Richardson announced a quarterly dividend of $0.06 per share (ex-dividend Feb. 6, payable Feb. 25), equivalent to $0.24 annually and a 1.9% yield, with a payout ratio of 480%.
- Shares have pulled back (recently opened at $12.71 and were down ~7.9%), the company has a market cap of ~$184.6M and a high P/E of 254.25, and analysts carry an average "Reduce" rating with an $11 target; last quarter EPS was ($0.01) in line with estimates while revenue beat expectations.
Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) Director Kenneth Halverson sold 10,000 shares of the firm's stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $13.09, for a total value of $130,900.00. Following the completion of the sale, the director directly owned 14,345 shares of the company's stock, valued at $187,776.05. The trade was a 41.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Richardson Electronics Trading Down 7.9%
Shares of Richardson Electronics stock opened at $12.71 on Wednesday. The company's fifty day simple moving average is $11.35 and its two-hundred day simple moving average is $10.63. The company has a market cap of $184.55 million, a P/E ratio of 254.25, a PEG ratio of 2.16 and a beta of 1.09. Richardson Electronics, Ltd. has a 12-month low of $7.57 and a 12-month high of $15.34.
Richardson Electronics (NASDAQ:RELL - Get Free Report) last posted its earnings results on Wednesday, January 7th. The technology company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The firm had revenue of $52.29 million during the quarter, compared to analysts' expectations of $49.90 million. Richardson Electronics had a net margin of 0.38% and a return on equity of 3.30%. During the same period last year, the company posted ($0.05) EPS. Analysts predict that Richardson Electronics, Ltd. will post 0.27 EPS for the current fiscal year.
Richardson Electronics Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Friday, February 6th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, February 6th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.9%. Richardson Electronics's dividend payout ratio is 480.00%.
Hedge Funds Weigh In On Richardson Electronics
Several large investors have recently modified their holdings of the stock. Royce & Associates LP boosted its stake in Richardson Electronics by 2.5% in the 3rd quarter. Royce & Associates LP now owns 1,389,175 shares of the technology company's stock worth $13,600,000 after purchasing an additional 34,000 shares in the last quarter. First Wilshire Securities Management Inc. increased its stake in Richardson Electronics by 12.0% during the 2nd quarter. First Wilshire Securities Management Inc. now owns 838,077 shares of the technology company's stock valued at $8,087,000 after purchasing an additional 89,603 shares in the last quarter. State Street Corp raised its holdings in Richardson Electronics by 1.9% in the fourth quarter. State Street Corp now owns 243,427 shares of the technology company's stock worth $2,648,000 after buying an additional 4,629 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Richardson Electronics by 7.3% in the first quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company's stock worth $950,000 after buying an additional 5,802 shares in the last quarter. Finally, Acadian Asset Management LLC grew 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 valued at $928,000 after buying an additional 12,097 shares during the last quarter. Hedge funds and other institutional investors own 71.95% of the company's stock.
Analysts Set New Price Targets
Several brokerages have commented on RELL. Zacks Research lowered Richardson Electronics from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 9th. 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. Finally, Northland Securities set a $11.00 price objective on shares of Richardson Electronics in a report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Richardson Electronics presently has an average rating of "Reduce" and an average target price of $11.00.
Check Out Our Latest Report on RELL
Richardson Electronics Company Profile
(
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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