Insider Selling: Richardson Electronics (NASDAQ:RELL) Director Sells $130,900.00 in Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Kenneth Halverson sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $13.09, for a total value of $130,900.00. Following the completion of the sale, the director owned 14,345 shares of the company’s stock, valued at $187,776.05. This trade represents a 41.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Richardson Electronics Price Performance

Shares of NASDAQ:RELL opened at $13.11 on Friday. The business’s 50 day moving average price is $11.41 and its 200-day moving average price is $10.66. Richardson Electronics, Ltd. has a 1 year low of $7.57 and a 1 year high of $15.34. The firm has a market capitalization of $190.36 million, a price-to-earnings ratio of 262.25, a price-to-earnings-growth ratio of 2.01 and a beta of 1.09.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings results on Wednesday, January 7th. The technology company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $52.29 million during the quarter, compared to analyst estimates of $49.90 million. Richardson Electronics had a net margin of 0.38% and a return on equity of 3.30%. During the same quarter in the previous year, the firm earned ($0.05) EPS. On average, sell-side analysts expect that Richardson Electronics, Ltd. will post 0.27 earnings per share for the current year.

Richardson Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Friday, February 6th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $0.24 dividend on an annualized basis and a yield of 1.8%. Richardson Electronics’s dividend payout ratio (DPR) is currently 480.00%.

Institutional Trading of Richardson Electronics

Several large investors have recently added to or reduced their stakes in the stock. Royce & Associates LP raised its holdings in shares of Richardson Electronics by 2.5% during the 3rd quarter. Royce & Associates LP now owns 1,389,175 shares of the technology company’s stock worth $13,600,000 after acquiring an additional 34,000 shares during the period. First Wilshire Securities Management Inc. increased its position in Richardson Electronics by 12.0% during the second quarter. First Wilshire Securities Management Inc. now owns 838,077 shares of the technology company’s stock worth $8,087,000 after purchasing an additional 89,603 shares during the last quarter. State Street Corp raised its stake in Richardson Electronics by 1.9% during the fourth quarter. State Street Corp now owns 243,427 shares of the technology company’s stock worth $2,648,000 after purchasing an additional 4,629 shares during the period. Goldman Sachs Group Inc. raised its stake in Richardson Electronics by 7.3% during the first quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company’s stock worth $950,000 after purchasing an additional 5,802 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in Richardson Electronics by 17.0% in the 1st quarter. Acadian Asset Management LLC now owns 83,273 shares of the technology company’s stock valued at $928,000 after purchasing an additional 12,097 shares during the last quarter. 71.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Zacks Research lowered Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Northland Securities set a $11.00 price target on Richardson Electronics in a research note on Thursday, January 22nd. Finally, Weiss Ratings cut shares of Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, January 9th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $11.00.

Richardson Electronics Company Profile

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.