Key Points
- CFO Robert Ben sold 5,000 Richardson Electronics shares at an average price of $21.01, totaling $105,050 and reducing his direct holdings by 7.63% to 60,534 shares.
- Richardson Electronics reported quarterly EPS of $0.27, beating the $0.09 consensus estimate, while revenue of $64.92 million also exceeded expectations.
- Analysts maintain a consensus “Buy” rating with an average price target of $26.00; the company also declared a $0.06 quarterly dividend, equal to a 1.2% annualized yield.
Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) CFO Robert Ben sold 5,000 shares of the business's stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $21.01, for a total value of $105,050.00. Following the completion of the transaction, the chief financial officer directly owned 60,534 shares of the company's stock, valued at approximately $1,271,819.34. This trade represents a 7.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Richardson Electronics Stock Down 5.7%
RELL opened at $19.74 on Friday. The stock has a market capitalization of $293.73 million, a price-to-earnings ratio of 38.76, a P/E/G ratio of 1.07 and a beta of 1.32. Richardson Electronics, Ltd. has a twelve month low of $9.37 and a twelve month high of $23.15. The company has a 50-day simple moving average of $18.16 and a 200 day simple moving average of $15.75.
Richardson Electronics (NASDAQ:RELL - Get Free Report) last released its earnings results on Wednesday, October 7th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.09 by $0.18. Richardson Electronics had a net margin of 3.57% and a return on equity of 4.82%. The firm had revenue of $64.92 million for the quarter, compared to analyst estimates of $58.98 million. Sell-side analysts anticipate that Richardson Electronics, Ltd. will post 0.78 EPS for the current fiscal year.
Richardson Electronics Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Friday, November 6th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, November 6th. Richardson Electronics's dividend payout ratio is 41.38%.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the stock. Zacks Research raised shares of Richardson Electronics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Weiss Ratings upgraded shares of Richardson Electronics from a "hold (c)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Wall Street Zen upgraded Richardson Electronics from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Northland Securities set a $26.00 target price on Richardson Electronics in a report on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $26.00.
Read Our Latest Analysis on Richardson Electronics
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Hsbc Holdings PLC acquired a new stake in shares of Richardson Electronics in the 2nd quarter valued at approximately $208,000. Empowered Funds LLC bought a new stake in shares of Richardson Electronics during the 2nd quarter valued at approximately $419,000. Algert Global LLC increased its position in Richardson Electronics by 88.4% during the 2nd quarter. Algert Global LLC now owns 22,235 shares of the technology company's stock worth $423,000 after purchasing an additional 10,433 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Richardson Electronics during the 2nd quarter worth approximately $293,000. Finally, BlackRock Inc. acquired a new position in Richardson Electronics during the 2nd quarter worth approximately $18,874,000. Institutional investors own 71.95% of the company's stock.
About Richardson Electronics
(
Get Free Report)
Richardson Electronics Ltd. (NASDAQ: RELL) is a global provider of engineered solutions, electronic components and replacement parts for specialized industrial and healthcare applications. The company serves original equipment manufacturers, government agencies, medical facilities, distributors and other commercial customers through its product portfolio and technical support services.
Its Power and Microwave Technologies business supplies components and systems used in power conversion, renewable energy, semiconductor manufacturing, aerospace and defense, telecommunications, and other industrial markets.
Further Reading
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].
