Insider Buying: Richardson Electronics, Ltd. (NASDAQ:RELL) Director Purchases 5,000 Shares of Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Robert H. Kluge acquired 5,000 shares of Richardson Electronics stock in a transaction dated Thursday, November 16th. The shares were bought at an average cost of $11.79 per share, for a total transaction of $58,950.00. Following the completion of the purchase, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $412,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Richardson Electronics Price Performance

RELL traded down $0.07 during midday trading on Monday, reaching $11.81. 52,864 shares of the company’s stock traded hands, compared to its average volume of 166,352. Richardson Electronics, Ltd. has a 52 week low of $10.25 and a 52 week high of $27.24. The firm has a fifty day moving average of $11.16 and a two-hundred day moving average of $13.77. The stock has a market capitalization of $168.65 million, a price-to-earnings ratio of 9.98, a P/E/G ratio of 1.90 and a beta of 0.76.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings data on Thursday, October 12th. The technology company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.03 by $0.06. The business had revenue of $52.58 million during the quarter, compared to analyst estimates of $51.10 million. Richardson Electronics had a net margin of 6.96% and a return on equity of 9.56%. During the same period in the prior year, the business earned $0.45 EPS. Sell-side analysts forecast that Richardson Electronics, Ltd. will post 0.31 EPS for the current year.

Richardson Electronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Investors of record on Friday, November 10th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.24 annualized dividend and a yield of 2.03%. Richardson Electronics’s payout ratio is 20.17%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RELL shares. StockNews.com raised Richardson Electronics from a “sell” rating to a “hold” rating in a research note on Sunday, November 12th. TheStreet lowered shares of Richardson Electronics from a “b-” rating to a “c+” rating in a report on Thursday, November 2nd.

Hedge Funds Weigh In On Richardson Electronics

Several institutional investors and hedge funds have recently added to or reduced their stakes in RELL. JPMorgan Chase & Co. grew its holdings in Richardson Electronics by 48.9% in the first quarter. JPMorgan Chase & Co. now owns 2,553 shares of the technology company’s stock worth $32,000 after purchasing an additional 839 shares during the period. UBS Group AG boosted its holdings in Richardson Electronics by 85.4% in the second quarter. UBS Group AG now owns 1,854 shares of the technology company’s stock worth $27,000 after acquiring an additional 854 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Richardson Electronics by 7.8% during the third quarter. Royal Bank of Canada now owns 12,504 shares of the technology company’s stock valued at $189,000 after acquiring an additional 904 shares in the last quarter. BlackRock Inc. increased its stake in Richardson Electronics by 0.4% during the 1st quarter. BlackRock Inc. now owns 239,083 shares of the technology company’s stock valued at $5,336,000 after purchasing an additional 933 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Richardson Electronics by 1.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 80,604 shares of the technology company’s stock valued at $1,217,000 after purchasing an additional 1,079 shares during the last quarter. Hedge funds and other institutional investors own 57.46% of the company’s stock.

About Richardson Electronics

Richardson Electronics, Ltd. provides engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and RF, Microwave and power components for semiconductors; and manufacturing equipment, RF and wireless and industrial power applications, as well as various applications including broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology.