Richardson Electronics (NASDAQ:RELL) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Richardson Electronics, Ltd. (NASDAQ:RELL)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.25 and traded as high as $17.40. Richardson Electronics shares last traded at $16.98, with a volume of 260,604 shares.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RELL. Weiss Ratings upgraded shares of Richardson Electronics from a “sell (d+)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. Northland Securities set a $14.00 price objective on shares of Richardson Electronics in a research note on Friday, April 10th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Richardson Electronics currently has a consensus rating of “Hold” and a consensus price target of $14.00.

Richardson Electronics Stock Performance

The stock has a market capitalization of $247.23 million, a P/E ratio of 62.89, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. The firm’s fifty day simple moving average is $14.05 and its 200 day simple moving average is $12.25.

Richardson Electronics (NASDAQ:RELL) last released its earnings results on Wednesday, April 8th. The technology company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. Richardson Electronics had a net margin of 1.75% and a return on equity of 2.83%. The firm had revenue of $55.47 million for the quarter, compared to analyst estimates of $53.13 million. 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 announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Friday, May 8th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, May 8th. Richardson Electronics’s dividend payout ratio (DPR) is currently 88.89%.

Insider Activity

In other Richardson Electronics news, Director Kenneth Halverson sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $14.69, for a total value of $146,900.00. Following the transaction, the director directly owned 14,345 shares of the company’s stock, valued at $210,728.05. This trade represents a 41.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kathleen Mcnally sold 6,636 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president directly owned 45,719 shares in the company, valued at approximately $770,365.15. This represents a 12.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 33.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Richardson Electronics

Several hedge funds have recently bought and sold shares of the company. Nano Cap New Millennium Growth Fund L P bought a new stake in shares of Richardson Electronics during the 4th quarter valued at approximately $462,000. Ritholtz Wealth Management grew its holdings in shares of Richardson Electronics by 30.9% during the 4th quarter. Ritholtz Wealth Management now owns 19,278 shares of the technology company’s stock valued at $210,000 after purchasing an additional 4,554 shares during the last quarter. Royce & Associates LP grew 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 valued at $13,600,000 after purchasing an additional 34,000 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Richardson Electronics during the 3rd quarter valued at approximately $104,000. Finally, Kovack Advisors Inc. grew its holdings in shares of Richardson Electronics by 96.9% during the 3rd quarter. Kovack Advisors Inc. now owns 27,510 shares of the technology company’s stock valued at $269,000 after purchasing an additional 13,535 shares during the last quarter. 71.95% of the stock is owned by institutional investors.

About Richardson Electronics

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.