Wendy Diddell Sells 23,901 Shares of Richardson Electronics (NASDAQ:RELL) Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) COO Wendy Diddell sold 23,901 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $20.00, for a total transaction of $478,020.00. Following the completion of the transaction, the chief operating officer owned 114,150 shares in the company, valued at approximately $2,283,000. This trade represents a 17.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Richardson Electronics Trading Down 0.2%

RELL stock traded down $0.04 during mid-day trading on Thursday, hitting $20.95. 33,166 shares of the company were exchanged, compared to its average volume of 200,554. Richardson Electronics, Ltd. has a 1-year low of $9.37 and a 1-year high of $23.15. The stock has a market capitalization of $304.96 million, a PE ratio of 47.74, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. The business has a 50 day simple moving average of $17.71 and a 200-day simple moving average of $14.66.

Richardson Electronics (NASDAQ:RELL) last released its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.21 earnings per share 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%. Equities research analysts expect that Richardson Electronics, Ltd. will post 0.5 earnings per share for the current year.

Richardson Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Friday, August 7th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 7th. Richardson Electronics’s payout ratio is presently 54.55%.

Analysts Set New Price Targets

Several analysts have weighed in on RELL shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Richardson Electronics in a research note on Monday, July 20th. Zacks Research upgraded shares of Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. Finally, Northland Securities upgraded Richardson Electronics from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $14.00 to $24.00 in a research note on Tuesday, July 28th. One equities research 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 MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $24.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Richardson Electronics in the 1st quarter valued at approximately $1,095,000. First Wilshire Securities Management Inc. grew its holdings 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 valued at $7,358,000 after purchasing an additional 82,054 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Richardson Electronics during the 1st quarter worth approximately $697,000. Marshall Wace LLP acquired a new position in Richardson Electronics during the 4th quarter worth approximately $626,000. Finally, Walleye Capital LLC bought a new position in Richardson Electronics in the 4th quarter valued at approximately $497,000. 71.95% of the stock is owned by 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.