Insider Selling: Richardson Electronics (NASDAQ:RELL) Director Sells $107,300.00 in Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Jacques Belin sold 5,000 shares of Richardson Electronics stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $21.46, for a total value of $107,300.00. Following the completion of the transaction, the director directly owned 22,365 shares of the company’s stock, valued at approximately $479,952.90. This trade represents a 18.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Richardson Electronics Price Performance

Shares of NASDAQ:RELL opened at $20.66 on Friday. The company has a market capitalization of $300.81 million, a price-to-earnings ratio of 46.96, a P/E/G ratio of 1.64 and a beta of 1.28. The business’s 50-day moving average is $17.85 and its 200-day moving average is $14.77. Richardson Electronics, Ltd. has a 1 year low of $9.37 and a 1 year high of $23.15.

Richardson Electronics (NASDAQ:RELL) last released its 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 return on equity of 3.55% and a net margin of 2.79%. Analysts anticipate that Richardson Electronics, Ltd. will post 0.5 EPS for the current year.

Richardson Electronics Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RELL. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Richardson Electronics during the first quarter valued at approximately $1,095,000. First Wilshire Securities Management Inc. raised its position in shares of Richardson Electronics by 13.9% during the first quarter. First Wilshire Securities Management Inc. now owns 671,998 shares of the technology company’s stock worth $7,358,000 after purchasing an additional 82,054 shares during the period. Lazard Asset Management LLC bought a new position in shares of Richardson Electronics in the 1st quarter worth $697,000. Nano Cap New Millennium Growth Fund L P bought a new position in shares of Richardson Electronics in the 4th quarter worth $462,000. Finally, AIGH Capital Management LLC bought a new position in shares of Richardson Electronics in the 2nd quarter worth $3,810,000. Institutional investors own 71.95% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.