Key Points
- CFO Robert Ben sold 4,000 shares at an average price of $12.99 for $51,960, reducing his ownership by 7.01 to 53,034 shares valued at about $688,912, according to an SEC filing.
- Richardson announced a quarterly dividend of $0.06 (annualized $0.24) with an ex-dividend date of Feb. 6 and payment on Feb. 25, implying a 1.9% yield but a very high payout ratio of 480%.
- The stock carries mixed analyst coverage with a MarketBeat consensus of "Reduce" and a $11 target; Richardson has a market cap of roughly $188 million and a high P/E (~259), with a 1-year range of $7.57–$15.34.
Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) CFO Robert Ben sold 4,000 shares of Richardson Electronics stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $12.99, for a total value of $51,960.00. Following the sale, the chief financial officer directly owned 53,034 shares of the company's stock, valued at $688,911.66. This trade represents a 7.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Richardson Electronics Stock Performance
NASDAQ:RELL opened at $12.97 on Tuesday. Richardson Electronics, Ltd. has a 1 year low of $7.57 and a 1 year high of $15.34. The stock has a market cap of $188.32 million, a P/E ratio of 259.45, a P/E/G ratio of 2.15 and a beta of 1.09. The stock has a 50-day simple moving average of $11.51 and a 200-day simple moving average of $10.72.
Richardson Electronics (NASDAQ:RELL - Get Free Report) last posted its earnings results on Wednesday, January 7th. The technology company reported ($0.01) earnings per share 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 return on equity of 3.30% and a net margin of 0.38%.During the same quarter in the previous year, the business earned ($0.05) earnings per share. On average, equities research analysts predict that Richardson Electronics, Ltd. will post 0.27 EPS for the current year.
Richardson Electronics Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Friday, February 6th will be issued a $0.06 dividend. The ex-dividend date is Friday, February 6th. This represents a $0.24 annualized dividend and a dividend yield of 1.9%. Richardson Electronics's dividend payout ratio is presently 480.00%.
Institutional Trading of Richardson Electronics
A number of institutional investors have recently modified their holdings of RELL. Tower Research Capital LLC TRC grew its holdings in Richardson Electronics by 298.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company's stock worth $40,000 after acquiring an additional 3,117 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Richardson Electronics during the 2nd quarter worth $57,000. Los Angeles Capital Management LLC purchased a new stake in shares of Richardson Electronics during the 4th quarter worth $91,000. Engineers Gate Manager LP acquired a new position in shares of Richardson Electronics during the 2nd quarter worth $103,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Richardson Electronics in the 3rd quarter valued at about $104,000. 71.95% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
RELL has been the topic of several research analyst reports. Northland Securities set a $11.00 price target on shares of Richardson Electronics in a research note on Thursday, January 22nd. Zacks Research lowered Richardson Electronics from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 9th. Finally, Weiss Ratings cut Richardson Electronics from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, January 9th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Richardson Electronics presently has an average rating of "Reduce" and a consensus target price of $11.00.
Read Our Latest Stock Analysis 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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