James Benham Sells 3,020 Shares of Richardson Electronics (NASDAQ:RELL) Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director James Benham sold 3,020 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $17.99, for a total value of $54,329.80. Following the completion of the sale, the director directly owned 19,345 shares of the company’s stock, valued at approximately $348,016.55. This trade represents a 13.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

James Benham also recently made the following trade(s):

• On Wednesday, July 29th, James Benham sold 164 shares of Richardson Electronics stock. The stock was sold at an average price of $19.06, for a total value of $3,125.84.

Richardson Electronics Trading Down 3.4%

NASDAQ:RELL traded down $0.60 on Friday, hitting $16.91. 79,381 shares of the company’s stock traded hands, compared to its average volume of 202,497. The company has a market cap of $248.41 million, a PE ratio of 38.43, a price-to-earnings-growth ratio of 1.43 and a beta of 1.28. Richardson Electronics, Ltd. has a 1 year low of $9.37 and a 1 year high of $23.15. The firm has a 50-day moving average price of $18.35 and a 200-day moving average price of $15.32.

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 the consensus estimate of $0.07 by $0.14. Richardson Electronics had a net margin of 2.79% and a return on equity of 3.55%. The business had revenue of $66.20 million during the quarter, compared to analysts’ expectations of $55.37 million. On average, research analysts forecast that Richardson Electronics, Ltd. will post 0.5 EPS for the current fiscal year.

Richardson Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Friday, August 7th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, August 7th. Richardson Electronics’s payout ratio is currently 54.55%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RELL. Aristides Capital LLC lifted its holdings in Richardson Electronics by 4.7% in the 4th quarter. Aristides Capital LLC now owns 20,940 shares of the technology company’s stock worth $228,000 after purchasing an additional 940 shares during the last quarter. Empowered Funds LLC grew its holdings in Richardson Electronics by 7.6% during the first quarter. Empowered Funds LLC now owns 20,596 shares of the technology company’s stock valued at $226,000 after purchasing an additional 1,454 shares during the last quarter. Nuveen LLC raised its position in shares of Richardson Electronics by 9.7% in the fourth quarter. Nuveen LLC now owns 16,970 shares of the technology company’s stock valued at $185,000 after purchasing an additional 1,507 shares during the period. Bridgeway Capital Management LLC lifted its stake in shares of Richardson Electronics by 2.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 65,753 shares of the technology company’s stock worth $715,000 after buying an additional 1,587 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of 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 worth $40,000 after buying an additional 3,117 shares during the period. Institutional investors and hedge funds own 71.95% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wall Street Zen raised Richardson Electronics from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Zacks Research raised Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Weiss Ratings restated a “hold (c)” rating on shares of Richardson Electronics in a report on Monday, July 20th. Finally, Northland Securities upgraded shares of Richardson Electronics from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $14.00 to $24.00 in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Richardson Electronics has a consensus rating of “Buy” and an average price target of $24.00.

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.