Key Points
- Director Kenneth Halverson sold 1,000 Richardson Electronics shares at an average price of $21.19, generating $21,190 and reducing his direct holdings by 9.2% to 9,865 shares.
- Richardson Electronics reported quarterly EPS of $0.27, exceeding the $0.09 consensus estimate, while revenue of $64.92 million also surpassed expectations.
- The company declared a quarterly dividend of $0.06 per share, equivalent to an annualized $0.24 dividend and a 1.2% yield; analysts maintain a consensus “Buy” rating with a $26 price target.
Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) Director Kenneth Halverson sold 1,000 shares of the firm's stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $21.19, for a total transaction of $21,190.00. Following the transaction, the director directly owned 9,865 shares of the company's stock, valued at $209,039.35. The trade was a 9.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Kenneth Halverson also recently made the following trade(s):
- On Thursday, August 20th, Kenneth Halverson sold 1,500 shares of Richardson Electronics stock. The stock was sold at an average price of $17.47, for a total transaction of $26,205.00.
Richardson Electronics Stock Down 1.2%
Shares of Richardson Electronics stock opened at $19.50 on Tuesday. Richardson Electronics, Ltd. has a twelve month low of $9.37 and a twelve month high of $23.15. The stock has a market cap of $290.16 million, a price-to-earnings ratio of 39.07, a P/E/G ratio of 1.08 and a beta of 1.32. The company's fifty day moving average is $18.21 and its 200 day moving average is $15.80.
Richardson Electronics (NASDAQ:RELL - Get Free Report) last announced its earnings results on Wednesday, October 7th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.18. The business had revenue of $64.92 million during the quarter, compared to analyst estimates of $58.98 million. Richardson Electronics had a return on equity of 4.82% and a net margin of 3.57%. As a group, equities analysts anticipate that Richardson Electronics, Ltd. will post 0.78 earnings per share for the current fiscal year.
Richardson Electronics Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Friday, November 6th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $0.24 annualized dividend and a dividend yield of 1.2%. Richardson Electronics's dividend payout ratio is presently 41.38%.
Hedge Funds Weigh In On Richardson Electronics
A number of institutional investors and hedge funds have recently made changes to their positions in RELL. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Richardson Electronics during the 1st quarter worth approximately $1,095,000. BlackRock Inc. acquired a new stake in Richardson Electronics in the second quarter valued at approximately $18,874,000. First Wilshire Securities Management Inc. grew its stake in Richardson Electronics by 13.9% in the first quarter. First Wilshire Securities Management Inc. now owns 671,998 shares of the technology company's stock valued at $7,358,000 after acquiring an additional 82,054 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Richardson Electronics during the first quarter valued at approximately $697,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Richardson Electronics during the second quarter valued at approximately $1,995,000. Institutional investors own 71.95% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on RELL shares. Northland Securities set a $26.00 price objective on Richardson Electronics in a research report on Tuesday, October 13th. Wall Street Zen upgraded Richardson Electronics from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Zacks Research raised shares of Richardson Electronics from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 27th. Finally, Weiss Ratings upgraded shares of Richardson Electronics from a "hold (c)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $26.00.
Get Our Latest Stock Report on RELL
Richardson Electronics Company Profile
(
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
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