Richardson Electronics (NASDAQ:RELL) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Richardson Electronics, Ltd. (NASDAQ:RELL) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.54 and traded as high as $16.89. Richardson Electronics shares last traded at $16.63, with a volume of 182,704 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Weiss Ratings raised 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 target 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 MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.00.

Richardson Electronics Stock Up 0.5%

The stock has a market cap of $237.91 million, a price-to-earnings ratio of 60.52, a PEG ratio of 1.67 and a beta of 1.28. The stock has a fifty day moving average of $14.93 and a two-hundred day moving average of $12.63.

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

Richardson Electronics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Friday, May 8th were paid a $0.06 dividend. The ex-dividend date was Friday, May 8th. This represents a $0.24 annualized dividend and a dividend yield of 1.5%. Richardson Electronics’s payout ratio is 88.89%.

Insider Activity at Richardson Electronics

In other Richardson Electronics news, Director Kenneth Halverson sold 10,000 shares of Richardson Electronics stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $14.69, for a total transaction of $146,900.00. Following the sale, the director directly owned 14,345 shares in the company, valued at $210,728.05. The trade was a 41.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kathleen Mcnally sold 6,636 shares of Richardson Electronics stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $16.85, for a total value of $111,816.60. Following the sale, the executive vice president owned 45,719 shares in the company, valued at $770,365.15. This represents a 12.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 33.40% of the stock is owned by insiders.

Institutional Trading of Richardson Electronics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Richardson Electronics during the 4th quarter worth approximately $462,000. Ritholtz Wealth Management raised its position 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 worth $210,000 after purchasing an additional 4,554 shares during the period. Royce & Associates LP raised its position 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 purchasing an additional 34,000 shares during the period. GSA Capital Partners LLP bought a new position in Richardson Electronics in the 3rd quarter worth approximately $104,000. Finally, Kovack Advisors Inc. grew its holdings in Richardson Electronics by 96.9% in the 3rd quarter. Kovack Advisors Inc. now owns 27,510 shares of the technology company’s stock worth $269,000 after buying an additional 13,535 shares in the last quarter. 71.95% of the stock is currently owned by institutional investors and hedge funds.

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.