Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) Director Robert Kluge sold 29,000 shares of the company's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $17.90, for a total value of $519,100.00. Following the completion of the transaction, the director directly owned 51,365 shares in the company, valued at approximately $919,433.50. The trade was a 36.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Richardson Electronics Price Performance
RELL opened at $19.65 on Tuesday. Richardson Electronics, Ltd. has a fifty-two week low of $9.37 and a fifty-two week high of $23.15. The business has a 50-day moving average of $17.56 and a 200-day moving average of $14.52. The company has a market capitalization of $286.05 million, a PE ratio of 44.66, a price-to-earnings-growth ratio of 1.45 and a beta of 1.26.
Richardson Electronics (NASDAQ:RELL - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.14. The firm had revenue of $66.20 million during the quarter, compared to analysts' expectations of $55.37 million. Richardson Electronics had a net margin of 2.79% and a return on equity of 3.57%. On average, equities research analysts expect that Richardson Electronics, Ltd. will post 0.5 earnings per share for the current fiscal year.
Richardson Electronics Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Friday, August 7th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, August 7th. Richardson Electronics's dividend payout ratio is 54.55%.
Hedge Funds Weigh In On Richardson Electronics
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aristides Capital LLC raised its holdings in shares of Richardson Electronics by 4.7% in the 4th quarter. Aristides Capital LLC now owns 20,940 shares of the technology company's stock worth $228,000 after buying an additional 940 shares in the last quarter. Empowered Funds LLC boosted its stake in Richardson Electronics by 7.6% in the 1st quarter. Empowered Funds LLC now owns 20,596 shares of the technology company's stock valued at $226,000 after buying an additional 1,454 shares in the last quarter. Nuveen LLC boosted its stake in Richardson Electronics by 9.7% in the 4th quarter. Nuveen LLC now owns 16,970 shares of the technology company's stock valued at $185,000 after buying an additional 1,507 shares in the last quarter. Bridgeway Capital Management LLC grew its position in Richardson Electronics by 2.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 65,753 shares of the technology company's stock valued at $715,000 after acquiring an additional 1,587 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Richardson Electronics by 298.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company's stock valued at $40,000 after acquiring an additional 3,117 shares during the period. 71.95% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the stock. Northland Securities raised shares of Richardson Electronics from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $14.00 to $24.00 in a research report on Tuesday, July 28th. Zacks Research upgraded shares of Richardson Electronics from a "hold" rating to a "strong-buy" rating in a report on Friday, July 24th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Richardson Electronics in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $24.00.
Check Out Our Latest Report 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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