Richardson Electronics (NASDAQ:RELL) CFO Robert Ben Sells 5,000 Shares of Company Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) CFO Robert Ben sold 5,000 shares of Richardson Electronics stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $21.01, for a total value of $105,050.00. Following the transaction, the chief financial officer owned 60,534 shares of the company’s stock, valued at $1,271,819.34. The trade was a 7.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Richardson Electronics Trading Down 5.7%

RELL stock opened at $19.74 on Friday. The firm has a market capitalization of $293.73 million, a PE ratio of 38.76, a PEG ratio of 1.07 and a beta of 1.32. Richardson Electronics, Ltd. has a 1-year low of $9.37 and a 1-year high of $23.15. The business’s 50 day simple moving average is $18.16 and its 200 day simple moving average is $15.75.

Richardson Electronics (NASDAQ:RELL) last announced its quarterly earnings results on Wednesday, October 7th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.18. Richardson Electronics had a return on equity of 4.82% and a net margin of 3.57%. The business had revenue of $64.92 million during the quarter, compared to the consensus estimate of $58.98 million. As a group, sell-side analysts predict that Richardson Electronics, Ltd. will post 0.78 EPS for the current fiscal year.

Richardson Electronics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Friday, November 6th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, November 6th. This represents a $0.24 annualized dividend and a dividend yield of 1.2%. Richardson Electronics’s payout ratio is presently 41.38%.

Wall Street Analysts Forecast Growth

RELL has been the subject of several research reports. Weiss Ratings upgraded shares of Richardson Electronics from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Northland Securities set a $26.00 target price on Richardson Electronics in a research report on Tuesday, October 13th. Zacks Research upgraded Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Wall Street Zen raised Richardson Electronics from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to data from MarketBeat, Richardson Electronics currently has a consensus rating of “Buy” and a consensus target price of $26.00.

Hedge Funds Weigh In On Richardson Electronics

Several institutional investors and hedge funds have recently modified their holdings of RELL. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Richardson Electronics during the 1st quarter worth approximately $1,095,000. BlackRock Inc. bought a new position in shares of Richardson Electronics during the second quarter worth approximately $18,874,000. First Wilshire Securities Management Inc. increased its holdings 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 acquired a new stake in shares of Richardson Electronics in the first quarter valued at approximately $697,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Richardson Electronics in the second quarter valued at approximately $1,995,000. 71.95% of the stock is currently owned by institutional investors and hedge funds.

Richardson Electronics Company Profile

Richardson Electronics Ltd. (NASDAQ: RELL) is a global provider of engineered solutions, electronic components and replacement parts for specialized industrial and healthcare applications. The company serves original equipment manufacturers, government agencies, medical facilities, distributors and other commercial customers through its product portfolio and technical support services.

Its Power and Microwave Technologies business supplies components and systems used in power conversion, renewable energy, semiconductor manufacturing, aerospace and defense, telecommunications, and other industrial markets.