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

Richardson Electronics, Ltd. (NASDAQ:RELL) CFO Robert Ben sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $11.90, for a total transaction of $59,500.00. Following the sale, the chief financial officer directly owned 57,034 shares in the company, valued at $678,704.60. This trade represents a 8.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Richardson Electronics Stock Up 3.5%

Shares of NASDAQ:RELL traded up $0.38 during trading on Friday, hitting $11.22. 13,285 shares of the stock traded hands, compared to its average volume of 126,851. The company has a fifty day moving average price of $10.96 and a two-hundred day moving average price of $10.46. Richardson Electronics, Ltd. has a 52-week low of $7.57 and a 52-week high of $13.60. The company has a market cap of $162.91 million, a price-to-earnings ratio of 224.44, a P/E/G ratio of 1.84 and a beta of 1.09.

Richardson Electronics (NASDAQ:RELL) last released its earnings results on Wednesday, January 7th. The technology company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). Richardson Electronics had a net margin of 0.38% and a return on equity of 3.30%. The business had revenue of $52.29 million for the quarter, compared to analyst estimates of $49.90 million. During the same period last year, the company posted ($0.05) EPS. On average, equities research analysts predict that Richardson Electronics, Ltd. will post 0.27 EPS for the current fiscal year.

Richardson Electronics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Friday, February 6th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, February 6th. Richardson Electronics’s payout ratio is 480.00%.

Hedge Funds Weigh In On Richardson Electronics

A number of hedge funds have recently added to or reduced their stakes in the stock. Wedbush Securities Inc. lifted its position in shares of Richardson Electronics by 15.3% during the 2nd quarter. Wedbush Securities Inc. now owns 14,814 shares of the technology company’s stock worth $143,000 after buying an additional 1,970 shares in the last quarter. Tower Research Capital LLC TRC raised 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 valued at $40,000 after purchasing an additional 3,117 shares during the period. Ritholtz Wealth Management boosted its stake in Richardson Electronics by 30.9% in the 4th quarter. Ritholtz Wealth Management now owns 19,278 shares of the technology company’s stock worth $210,000 after purchasing an additional 4,554 shares during the period. ARS Investment Partners LLC boosted its position in shares of Richardson Electronics by 11.7% in the second quarter. ARS Investment Partners LLC now owns 50,944 shares of the technology company’s stock valued at $492,000 after acquiring an additional 5,353 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Richardson Electronics by 7.3% in the first quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company’s stock worth $950,000 after acquiring an additional 5,802 shares in the last quarter. Institutional investors and hedge funds own 71.95% of the company’s stock.

Analyst Ratings Changes

RELL has been the subject of a number of analyst reports. Weiss Ratings downgraded Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, January 9th. Northland Securities set a $11.00 price objective on Richardson Electronics in a report on Thursday, January 22nd. Finally, Zacks Research downgraded Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $11.00.

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.