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

Richardson Electronics, Ltd. (NASDAQ:RELL) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.07 and traded as high as $19.16. Richardson Electronics shares last traded at $18.31, with a volume of 172,041 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Northland Securities set a $14.00 price objective on shares of Richardson Electronics in a research note on Friday, April 10th. 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. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $14.00.

Richardson Electronics Stock Performance

The stock has a 50 day moving average price of $16.11 and a 200 day moving average price of $13.16. The company has a market cap of $256.26 million, a P/E ratio of 65.19, a P/E/G ratio of 1.83 and a beta of 1.28.

Richardson Electronics (NASDAQ:RELL) last announced its earnings results on Wednesday, April 8th. The technology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. Richardson Electronics had a return on equity of 2.83% and a net margin of 1.75%.The business had revenue of $55.47 million during the quarter, compared to analysts’ expectations of $53.12 million. As a group, equities research analysts predict that Richardson Electronics, Ltd. will post 0.25 earnings per share for the current year.

Richardson Electronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Friday, May 8th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.24 annualized dividend and a dividend yield of 1.4%. Richardson Electronics’s payout ratio is currently 88.89%.

Insider Activity at Richardson Electronics

In related news, EVP Kathleen Mcnally sold 6,636 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $16.85, for a total transaction of $111,816.60. Following the completion of the sale, the executive vice president directly owned 45,719 shares in the company, valued at approximately $770,365.15. This trade represents a 12.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kenneth Halverson sold 10,000 shares of the company’s stock in a transaction 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 directly owned 14,345 shares in the company, valued at $210,728.05. This represents a 41.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 33.40% of the stock is owned by corporate insiders.

Institutional Trading of Richardson Electronics

A number of hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its position in shares of 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 worth $40,000 after acquiring an additional 3,117 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Richardson Electronics in the 2nd quarter worth approximately $57,000. Los Angeles Capital Management LLC purchased a new position in Richardson Electronics during the 4th quarter worth approximately $91,000. GSA Capital Partners LLP acquired a new stake in Richardson Electronics during the 3rd quarter valued at $104,000. Finally, Engineers Gate Manager LP acquired a new stake in Richardson Electronics during the 2nd quarter valued at $103,000. 71.95% of the stock is owned by hedge funds and other institutional investors.

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.