Richardson Electronics (NASDAQ:RELL) Stock Passes Above 200-Day Moving Average – Time to Sell?

Richardson Electronics, Ltd. (NASDAQ:RELL) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.77 and traded as high as $17.90. Richardson Electronics shares last traded at $17.50, with a volume of 599,701 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Richardson Electronics from a “sell (d+)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Northland Securities set a $14.00 price target on Richardson Electronics in a research note on Friday, April 10th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Richardson Electronics has an average rating of “Hold” and a consensus target price of $14.00.

Richardson Electronics Stock Up 7.1%

The firm has a market cap of $254.80 million, a PE ratio of 64.82, a price-to-earnings-growth ratio of 2.56 and a beta of 1.24. The business has a 50-day moving average price of $12.80 and a two-hundred day moving average price of $11.77.

Richardson Electronics (NASDAQ:RELL) last released its earnings results on Wednesday, April 8th. The technology company reported $0.07 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $53.13 million. On average, equities research analysts predict 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 will be paid on Wednesday, May 27th. Investors of record on Friday, May 8th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, May 8th. Richardson Electronics’s dividend payout ratio is presently 88.89%.

Insider Activity at Richardson Electronics

In related news, Director Kenneth Halverson sold 10,000 shares of Richardson Electronics stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $14.69, for a total value of $146,900.00. Following the completion of the transaction, the director owned 14,345 shares in the company, valued at $210,728.05. The trade was a 41.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert J. Ben sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $12.99, for a total transaction of $51,960.00. Following the transaction, the chief financial officer owned 53,034 shares of the company’s stock, valued at $688,911.66. This trade represents a 7.01% decrease in their position. 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 large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its stake in Richardson Electronics by 298.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company’s stock valued at $40,000 after buying an additional 3,117 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Richardson Electronics during the 2nd quarter worth about $57,000. Los Angeles Capital Management LLC purchased a new position in shares of Richardson Electronics in the 4th quarter valued at about $91,000. Engineers Gate Manager LP acquired a new stake in shares of Richardson Electronics during the 2nd quarter worth about $103,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Richardson Electronics during the 3rd quarter worth about $104,000. Hedge funds and other institutional investors own 71.95% of the company’s stock.

Richardson Electronics Company Profile

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.