Richardson Electronics (NASDAQ:RELL) EVP Kathleen Mcnally Sells 6,636 Shares

Richardson Electronics, Ltd. (NASDAQ:RELL) EVP Kathleen Mcnally sold 6,636 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $16.85, for a total transaction of $111,816.60. Following the completion of the sale, the executive vice president directly owned 45,719 shares in the company, valued at $770,365.15. This trade represents a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Richardson Electronics Trading Up 4.8%

Shares of RELL stock traded up $0.88 during trading hours on Friday, hitting $19.30. The company’s stock had a trading volume of 191,373 shares, compared to its average volume of 162,582. The company has a 50 day moving average of $13.30 and a 200 day moving average of $11.98. The stock has a market cap of $281.01 million, a PE ratio of 71.78, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. Richardson Electronics, Ltd. has a 12-month low of $8.66 and a 12-month high of $19.86.

Richardson Electronics (NASDAQ:RELL) last released its quarterly earnings data on Wednesday, April 8th. The technology company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. The business had revenue of $55.47 million for the quarter, compared to the consensus estimate of $53.13 million. Richardson Electronics had a net margin of 1.75% and a return on equity of 2.83%. As a group, analysts anticipate that Richardson Electronics, Ltd. will post 0.25 earnings per share for the current fiscal year.

Richardson Electronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Friday, May 8th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $0.24 dividend on an annualized basis and a yield of 1.2%. Richardson Electronics’s dividend payout ratio is 88.89%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RELL. Northland Securities set a $14.00 price target on shares of Richardson Electronics in a report on Friday, April 10th. Weiss Ratings raised shares of Richardson Electronics from a “sell (d+)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $14.00.

Institutional Investors Weigh In On Richardson Electronics

A number of hedge funds have recently modified their holdings of RELL. Tower Research Capital LLC TRC raised its position in shares of Richardson Electronics by 298.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company’s stock valued at $40,000 after buying an additional 3,117 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Richardson Electronics in the second quarter valued at about $57,000. Los Angeles Capital Management LLC acquired a new stake in shares of Richardson Electronics in the fourth quarter valued at about $91,000. Engineers Gate Manager LP acquired a new stake in shares of Richardson Electronics in the second quarter valued at about $103,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Richardson Electronics in the third quarter valued at about $104,000. 71.95% of the stock is currently owned by institutional investors and hedge funds.

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.