Richardson Electronics, Ltd. (NASDAQ:RELL) Declares Quarterly Dividend of $0.06

Richardson Electronics, Ltd. (NASDAQ:RELL) declared a quarterly dividend on Wednesday, October 7th. Shareholders of record on Friday, November 6th will be given a dividend of $0.06 per share by the technology company on Wednesday, November 25th. This represents a $0.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, November 6th.

Richardson Electronics has a dividend payout ratio of 43.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Richardson Electronics to earn $0.74 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 32.4%.

Richardson Electronics Stock Up 5.0%

Shares of NASDAQ:RELL opened at $20.00 on Thursday. The company has a market capitalization of $293.80 million, a price-to-earnings ratio of 45.46, a price-to-earnings-growth ratio of 1.51 and a beta of 1.32. The company has a 50 day moving average of $18.15 and a two-hundred day moving average of $16.56. Richardson Electronics has a 52-week low of $9.37 and a 52-week high of $23.15.

Richardson Electronics (NASDAQ:RELL) last posted its earnings results on Wednesday, October 7th. The technology company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.18. The business had revenue of $64.92 million for the quarter, compared to analysts’ expectations of $58.98 million. Richardson Electronics had a net margin of 2.79% and a return on equity of 3.55%. On average, equities analysts anticipate that Richardson Electronics will post 0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RELL. Wall Street Zen upgraded shares of Richardson Electronics from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Richardson Electronics in a research report on Monday, July 20th. Northland Securities upgraded Richardson Electronics from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $14.00 to $24.00 in a research note on Tuesday, July 28th. Finally, Zacks Research downgraded Richardson Electronics from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Richardson Electronics has an average rating of “Hold” and an average price target of $24.00.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. (NASDAQ: RELL) is a global provider of engineered solutions, replacement parts and specialized components for industrial, healthcare and energy markets. Founded in 1947 and headquartered in LaFox, Illinois, the company serves original equipment manufacturers, distributors and end users through a network that spans North America, Europe and Asia.

The company operates through three primary business areas. Its Power and Microwave Technologies segment supplies power semiconductors, electronic components, vacuum tubes, radio-frequency and microwave products, and related engineering services for applications including telecommunications, industrial equipment, broadcasting and defense.