Key Points
- CFO Robert Ben sold 9,000 Richardson Electronics shares at an average price of $21.61, generating $194,490. Following the sale, he retained 60,534 shares, a 12.94% reduction in his direct holdings.
- Richardson Electronics reported quarterly EPS of $0.21, beating estimates of $0.07, while revenue of $66.2 million exceeded expectations of $55.37 million.
- The company declared a quarterly dividend of $0.06 per share, equivalent to $0.24 annually and a 1.2% yield. Analysts’ average rating is “Buy,” with a consensus price target of $24.
Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) Director Jacques Belin sold 5,000 shares of the business's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $21.46, for a total value of $107,300.00. Following the sale, the director owned 22,365 shares of the company's stock, valued at approximately $479,952.90. This represents a 18.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Richardson Electronics Stock Down 1.1%
NASDAQ RELL opened at $20.74 on Friday. The company has a 50-day moving average price of $17.78 and a 200-day moving average price of $14.73. Richardson Electronics, Ltd. has a 52 week low of $9.37 and a 52 week high of $23.15. The firm has a market capitalization of $301.91 million, a P/E ratio of 47.14, a PEG ratio of 1.66 and a beta of 1.28.
Richardson Electronics (NASDAQ:RELL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The technology company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.14. The company had revenue of $66.20 million for the quarter, compared to the consensus estimate of $55.37 million. Richardson Electronics had a net margin of 2.79% and a return on equity of 3.55%. As a group, equities research analysts anticipate that Richardson Electronics, Ltd. will post 0.5 EPS for the current year.
Richardson Electronics Announces Dividend
The firm 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 (DPR) is currently 54.55%.
Hedge Funds Weigh In On Richardson Electronics
A number of hedge funds have recently made changes to their positions in RELL. First Wilshire Securities Management Inc. lifted its holdings in Richardson Electronics by 13.9% in the 1st quarter. First Wilshire Securities Management Inc. now owns 671,998 shares of the technology company's stock worth $7,358,000 after purchasing an additional 82,054 shares in the last quarter. State Street Corp grew its holdings in Richardson Electronics by 1.9% during the 4th quarter. State Street Corp now owns 243,427 shares of the technology company's stock valued at $2,648,000 after buying an additional 4,629 shares in the last quarter. AIGH Capital Management LLC purchased a new stake in Richardson Electronics during the 2nd quarter valued at approximately $3,810,000. Bank of New York Mellon Corp purchased a new position in shares of Richardson Electronics in the second quarter worth $1,995,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Richardson Electronics in the first quarter worth $1,095,000. Institutional investors own 71.95% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have recently commented on RELL. Northland Securities upgraded Richardson Electronics from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $14.00 to $24.00 in a research note on Tuesday, July 28th. Zacks Research upgraded Richardson Electronics from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 24th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Richardson Electronics in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $24.00.
Check Out Our Latest Analysis on RELL
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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