Insider Selling: Richardson Electronics (NASDAQ:RELL) Director Sells $519,100.00 in Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Robert Kluge sold 29,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $17.90, for a total transaction of $519,100.00. Following the sale, the director owned 51,365 shares in the company, valued at $919,433.50. This represents a 36.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Richardson Electronics Trading Up 4.1%

NASDAQ RELL traded up $0.75 on Monday, hitting $19.04. 70,059 shares of the company’s stock were exchanged, compared to its average volume of 195,064. The stock has a 50-day moving average of $17.52 and a 200-day moving average of $14.45. The stock has a market cap of $277.22 million, a price-to-earnings ratio of 43.27, a P/E/G ratio of 1.45 and a beta of 1.28. Richardson Electronics, Ltd. has a 52 week low of $9.37 and a 52 week high of $23.15.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.14. Richardson Electronics had a return on equity of 3.57% and a net margin of 2.79%.The company had revenue of $66.20 million during the quarter, compared to analysts’ expectations of $55.37 million. As a group, analysts predict that Richardson Electronics, Ltd. will post 0.5 earnings per share for the current year.

Richardson Electronics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Friday, August 7th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 7th. Richardson Electronics’s dividend payout ratio (DPR) is currently 54.55%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on RELL shares. Northland Securities upgraded Richardson Electronics from a “market perform” rating to an “outperform” rating and upped their price target for the company from $14.00 to $24.00 in a research report on Tuesday, July 28th. Zacks Research upgraded Richardson Electronics from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Richardson Electronics in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Richardson Electronics has a consensus rating of “Buy” and an average target price of $24.00.

Hedge Funds Weigh In On Richardson Electronics

A number of hedge funds and other institutional investors have recently made changes to their positions in RELL. Tower Research Capital LLC TRC increased its position in Richardson Electronics by 298.8% during the 2nd 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. Raymond James Financial Inc. purchased a new position in shares of Richardson Electronics in the 2nd quarter valued at approximately $57,000. Los Angeles Capital Management LLC bought a new stake in shares of Richardson Electronics during the fourth quarter valued at approximately $91,000. Engineers Gate Manager LP bought a new position in Richardson Electronics in the second quarter worth $103,000. Finally, Deutsche Bank AG lifted its position in Richardson Electronics by 150.3% during the 4th quarter. Deutsche Bank AG now owns 11,421 shares of the technology company’s stock valued at $124,000 after acquiring an additional 6,858 shares during the period. Institutional investors own 71.95% of the company’s stock.

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.