Key Points
- Director James Benham sold 3,020 Richardson Electronics shares at an average price of $17.99, generating $54,329.80 and reducing his direct ownership by 13.5% to 19,345 shares.
- Richardson Electronics reported quarterly EPS of $0.21, beating estimates of $0.07, while revenue of $66.2 million exceeded the $55.37 million consensus forecast.
- Analysts maintain an overall “Buy” rating with a $24 consensus price target, and the company declared a quarterly dividend of $0.06 per share, equivalent to a 1.4% annualized yield.
Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) Director James Benham sold 3,020 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $17.99, for a total value of $54,329.80. Following the completion of the sale, the director directly owned 19,345 shares of the company's stock, valued at $348,016.55. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
James Benham also recently made the following trade(s):
- On Wednesday, July 29th, James Benham sold 164 shares of Richardson Electronics stock. The shares were sold at an average price of $19.06, for a total value of $3,125.84.
Richardson Electronics Price Performance
RELL opened at $17.21 on Friday. Richardson Electronics, Ltd. has a 1 year low of $9.37 and a 1 year high of $23.15. The company has a market capitalization of $252.85 million, a price-to-earnings ratio of 39.11, a P/E/G ratio of 1.39 and a beta of 1.28. The firm's fifty day moving average price is $18.34 and its two-hundred day moving average price is $15.34.
Richardson Electronics (NASDAQ:RELL - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The technology company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.07 by $0.14. Richardson Electronics had a net margin of 2.79% and a return on equity of 3.55%. The company had revenue of $66.20 million during the quarter, compared to the consensus estimate of $55.37 million. As a group, equities analysts anticipate that Richardson Electronics, Ltd. will post 0.5 EPS for the current year.
Richardson Electronics Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Friday, August 7th will be paid a $0.06 dividend. The ex-dividend date is Friday, August 7th. This represents a $0.24 annualized dividend and a yield of 1.4%. Richardson Electronics's dividend payout ratio (DPR) is 54.55%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on RELL shares. Wall Street Zen upgraded Richardson Electronics from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Richardson Electronics in a research report on Monday, July 20th. Zacks Research upgraded Richardson Electronics from a "hold" rating to a "strong-buy" rating in a report on Friday, July 24th. Finally, Northland Securities raised Richardson Electronics from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $14.00 to $24.00 in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Richardson Electronics currently has an average rating of "Buy" and a consensus price target of $24.00.
Check Out Our Latest Stock Report on Richardson Electronics
Institutional Trading of Richardson Electronics
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Richardson Electronics in the second quarter worth about $18,874,000. AIGH Capital Management LLC bought a new position in shares of Richardson Electronics during the 2nd quarter valued at approximately $3,810,000. Bank of New York Mellon Corp bought a new position in shares of Richardson Electronics during the 2nd quarter valued at approximately $1,995,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Richardson Electronics during the 1st quarter worth approximately $1,095,000. Finally, First Wilshire Securities Management Inc. raised its holdings in shares of 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 during the period. Hedge funds and other institutional investors own 71.95% of the company's stock.
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
