Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) Director Kenneth Halverson sold 1,500 shares of the company's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $17.47, for a total transaction of $26,205.00. Following the sale, the director owned 10,865 shares of the company's stock, valued at $189,811.55. This represents a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Richardson Electronics Stock Down 2.3%
Shares of RELL opened at $16.81 on Tuesday. The stock has a market capitalization of $246.97 million, a P/E ratio of 38.21, a PEG ratio of 1.36 and a beta of 1.28. The firm has a fifty day simple moving average of $18.31 and a two-hundred day simple moving average of $15.40. Richardson Electronics, Ltd. has a twelve month low of $9.37 and a twelve month high of $23.15.
Richardson Electronics (NASDAQ:RELL - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $66.20 million for the quarter, compared to analyst estimates of $55.37 million. Richardson Electronics had a net margin of 2.79% and a return on equity of 3.55%. Sell-side analysts expect that Richardson Electronics, Ltd. will post 0.5 EPS for the current fiscal year.
Richardson Electronics Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Friday, August 7th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, August 7th. Richardson Electronics's payout ratio is currently 54.55%.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. Northland Securities upgraded Richardson Electronics from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $14.00 to $24.00 in a report on Tuesday, July 28th. Wall Street Zen raised Richardson Electronics from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Zacks Research upgraded Richardson Electronics from a "hold" rating to a "strong-buy" rating in a report on Friday, July 24th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Richardson Electronics in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Richardson Electronics currently has a consensus rating of "Buy" and an average target price of $24.00.
Check Out Our Latest Research Report on RELL
Hedge Funds Weigh In On Richardson Electronics
Institutional investors have recently bought and sold shares of the stock. Aristides Capital LLC lifted its holdings in Richardson Electronics by 4.7% in the fourth quarter. Aristides Capital LLC now owns 20,940 shares of the technology company's stock worth $228,000 after buying an additional 940 shares during the period. Empowered Funds LLC grew its holdings in shares of Richardson Electronics by 7.6% during the 1st quarter. Empowered Funds LLC now owns 20,596 shares of the technology company's stock worth $226,000 after acquiring an additional 1,454 shares during the period. Nuveen LLC grew its holdings in shares of Richardson Electronics by 9.7% during the 4th quarter. Nuveen LLC now owns 16,970 shares of the technology company's stock worth $185,000 after acquiring an additional 1,507 shares during the period. Bridgeway Capital Management LLC raised its position in shares of Richardson Electronics by 2.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 65,753 shares of the technology company's stock worth $715,000 after acquiring an additional 1,587 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Richardson Electronics by 394.2% in the 2nd quarter. California State Teachers Retirement System now owns 3,232 shares of the technology company's stock worth $61,000 after acquiring an additional 2,578 shares in the last quarter. 71.95% of the stock is owned by institutional investors.
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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