Key Points
- Director Kenneth Halverson sold 10,000 shares on May 5 at an average price of $14.69 for a total of $146,900, cutting his stake by 41.08% to 14,345 shares.
- Richardson Electronics beat the quarter with $0.07 EPS vs. $0.05 expected and $55.47M revenue vs. $53.13M, but trades at a high P/E of 55.04 and carries a consensus "Hold" rating with an average $14 price target and a market cap near $216M.
- The company declared a quarterly dividend of $0.06 per share (annualized $0.24, yield 1.6%), with an ex-dividend/record date of May 8 and a payout scheduled for May 27; the dividend payout ratio is 88.89%.
Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) Director Kenneth Halverson sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $14.69, for a total transaction of $146,900.00. Following the sale, the director owned 14,345 shares of the company's stock, valued at $210,728.05. This represents a 41.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Kenneth Halverson also recently made the following trade(s):
- On Thursday, February 12th, Kenneth Halverson sold 10,000 shares of Richardson Electronics stock. The shares were sold at an average price of $13.09, for a total transaction of $130,900.00.
Richardson Electronics Price Performance
NASDAQ RELL opened at $14.86 on Friday. The firm's fifty day moving average price is $12.46 and its 200 day moving average price is $11.59. Richardson Electronics, Ltd. has a 12 month low of $8.66 and a 12 month high of $15.34. The company has a market capitalization of $216.36 million, a price-to-earnings ratio of 55.04, a price-to-earnings-growth ratio of 2.37 and a beta of 1.24.
Richardson Electronics (NASDAQ:RELL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 8th. The technology company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.02. The firm had revenue of $55.47 million during the quarter, compared to analysts' expectations of $53.13 million. Richardson Electronics had a net margin of 1.75% and a return on equity of 2.83%. As a group, sell-side analysts forecast that Richardson Electronics, Ltd. will post 0.25 earnings per share for the current year.
Richardson Electronics Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Friday, May 8th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, May 8th. Richardson Electronics's dividend payout ratio (DPR) is currently 88.89%.
Hedge Funds Weigh In On Richardson Electronics
Several institutional investors have recently added to or reduced their stakes in the stock. AMH Equity Ltd acquired a new stake in Richardson Electronics during the 3rd quarter worth approximately $783,000. Wells Fargo & Company MN increased its holdings in shares of Richardson Electronics by 46.2% in the fourth quarter. Wells Fargo & Company MN now owns 13,568 shares of the technology company's stock valued at $148,000 after purchasing an additional 4,288 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Richardson Electronics in the second quarter valued at approximately $103,000. Los Angeles Capital Management LLC purchased a new stake in shares of Richardson Electronics during the fourth quarter worth approximately $91,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Richardson Electronics during the second quarter worth approximately $57,000. Institutional investors and hedge funds own 71.95% of the company's stock.
Wall Street Analysts Forecast Growth
RELL has been the subject of several research analyst reports. Weiss Ratings raised Richardson Electronics from a "sell (d+)" rating to a "hold (c)" rating in a report on Wednesday, April 22nd. Northland Securities set a $14.00 target price on shares of Richardson Electronics in a report on Friday, April 10th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $14.00.
Check Out Our Latest Stock Report on Richardson Electronics
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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