Robert Ben Sells 9,000 Shares of Richardson Electronics (NASDAQ:RELL) Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) CFO Robert Ben sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $21.61, for a total transaction of $194,490.00. Following the completion of the transaction, the chief financial officer owned 60,534 shares in the company, valued at approximately $1,308,139.74. This trade represents a 12.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Richardson Electronics Price Performance

Shares of NASDAQ:RELL opened at $20.66 on Friday. The company’s fifty day moving average price is $17.85 and its 200-day moving average price is $14.77. The firm has a market capitalization of $300.81 million, a price-to-earnings ratio of 46.96, a PEG ratio of 1.64 and a beta of 1.28. Richardson Electronics, Ltd. has a one year low of $9.37 and a one year high of $23.15.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings data on Wednesday, July 22nd. The technology company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.14. Richardson Electronics had a net margin of 2.79% and a return on equity of 3.55%. The company had revenue of $66.20 million during the quarter, compared to the consensus estimate of $55.37 million. As a group, equities research analysts expect that Richardson Electronics, Ltd. will post 0.5 EPS for the current year.

Richardson Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Friday, August 7th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, August 7th. This represents a $0.24 dividend on an annualized basis and a yield of 1.2%. Richardson Electronics’s dividend payout ratio (DPR) is presently 54.55%.

Wall Street Analyst Weigh In

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

Institutional Trading of Richardson Electronics

Several institutional investors have recently added to or reduced their stakes in RELL. Tower Research Capital LLC TRC increased its holdings 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 worth $40,000 after buying an additional 3,117 shares during the period. Raymond James Financial Inc. purchased a new stake in Richardson Electronics during the 2nd quarter valued at about $57,000. Los Angeles Capital Management LLC purchased a new stake in Richardson Electronics during the 4th quarter valued at about $91,000. Engineers Gate Manager LP bought a new position in Richardson Electronics during the 2nd quarter worth approximately $103,000. Finally, Deutsche Bank AG grew 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 worth $124,000 after acquiring an additional 6,858 shares during the last quarter. 71.95% of the stock is currently owned by hedge funds and other institutional investors.

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.