Insider Selling: Richardson Electronics (NASDAQ:RELL) CFO Sells $194,490.00 in Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) CFO Robert Ben sold 9,000 shares of Richardson Electronics stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $21.61, for a total value of $194,490.00. Following the transaction, the chief financial officer directly owned 60,534 shares in the company, valued at approximately $1,308,139.74. This trade represents a 12.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Richardson Electronics Price Performance

NASDAQ RELL opened at $20.66 on Friday. The company has a 50 day simple moving average of $17.85 and a 200-day simple moving average of $14.77. The firm has a market capitalization of $300.81 million, a price-to-earnings ratio of 46.96, a price-to-earnings-growth ratio of 1.64 and a beta of 1.28. Richardson Electronics, Ltd. has a 52-week low of $9.37 and a 52-week high of $23.15.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.07 by $0.14. The business had revenue of $66.20 million during the quarter, compared to analysts’ expectations of $55.37 million. Richardson Electronics had a net margin of 2.79% and a return on equity of 3.55%. On average, analysts predict that Richardson Electronics, Ltd. will post 0.5 EPS for the current year.

Richardson Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Friday, August 7th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.2%. Richardson Electronics’s dividend payout ratio (DPR) is 54.55%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Richardson Electronics in a research note on Monday, July 20th. Northland Securities raised Richardson Electronics from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $14.00 to $24.00 in a research report on Tuesday, July 28th. Zacks Research upgraded Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Finally, Wall Street Zen upgraded Richardson Electronics from a “hold” rating to a “buy” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $24.00.

Institutional Trading of Richardson Electronics

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Richardson Electronics during the second quarter worth $18,874,000. AIGH Capital Management LLC bought a new position in Richardson Electronics during the second quarter valued at about $3,810,000. Bank of New York Mellon Corp acquired a new stake in shares of Richardson Electronics in the second quarter worth about $1,995,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Richardson Electronics in the first quarter worth about $1,095,000. Finally, First Wilshire Securities Management Inc. boosted its stake in shares of Richardson Electronics by 13.9% during the 1st quarter. First Wilshire Securities Management Inc. now owns 671,998 shares of the technology company’s stock worth $7,358,000 after acquiring an additional 82,054 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.