Insider Selling: Richardson Electronics (NASDAQ:RELL) Director Sells $21,190.00 in Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Kenneth Halverson sold 1,000 shares of Richardson Electronics stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $21.19, for a total value of $21,190.00. Following the completion of the sale, the director directly owned 9,865 shares of the company’s stock, valued at approximately $209,039.35. This represents a 9.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Kenneth Halverson also recently made the following trade(s):

• On Thursday, August 20th, Kenneth Halverson sold 1,500 shares of Richardson Electronics stock. The shares were sold at an average price of $17.47, for a total transaction of $26,205.00.

Richardson Electronics Stock Performance

RELL traded up $0.70 on Monday, reaching $20.44. 111,491 shares of the company’s stock were exchanged, compared to its average volume of 211,210. The company has a market cap of $304.13 million, a price-to-earnings ratio of 35.15, a PEG ratio of 1.01 and a beta of 1.28. Richardson Electronics, Ltd. has a twelve month low of $9.37 and a twelve month high of $23.15. The company’s 50 day moving average is $18.16 and its 200-day moving average is $15.75.

Richardson Electronics (NASDAQ:RELL) last released its quarterly earnings data on Wednesday, October 7th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.09 by $0.18. The company had revenue of $64.92 million for the quarter, compared to analyst estimates of $58.98 million. Richardson Electronics had a return on equity of 4.82% and a net margin of 3.57%. Sell-side analysts forecast that Richardson Electronics, Ltd. will post 0.78 EPS for the current year.

Richardson Electronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Friday, November 6th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, November 6th. This represents a $0.24 annualized dividend and a yield of 1.2%. Richardson Electronics’s payout ratio is 41.38%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Weiss Ratings raised shares of Richardson Electronics from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Zacks Research upgraded shares of Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 27th. Northland Securities set a $26.00 price target on shares of Richardson Electronics in a report on Tuesday, October 13th. Finally, Wall Street Zen raised shares of Richardson Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $26.00.

Hedge Funds Weigh In On Richardson Electronics

A number of institutional investors have recently made changes to their positions in RELL. Hsbc Holdings PLC bought a new stake in shares of Richardson Electronics in the second quarter worth $208,000. Deutsche Bank AG acquired a new position in Richardson Electronics during the 2nd quarter worth $230,000. Granite Investment Partners LLC bought a new stake in shares of Richardson Electronics in the 1st quarter worth about $143,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Richardson Electronics in the 2nd quarter worth about $293,000. Finally, Empowered Funds LLC raised its stake in shares of Richardson Electronics by 7.6% in the 1st 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 in the last quarter. 71.95% of the stock is owned by institutional investors and hedge funds.

Richardson Electronics Company Profile

Richardson Electronics Ltd. (NASDAQ: RELL) is a global provider of engineered solutions, electronic components and replacement parts for specialized industrial and healthcare applications. The company serves original equipment manufacturers, government agencies, medical facilities, distributors and other commercial customers through its product portfolio and technical support services.

Its Power and Microwave Technologies business supplies components and systems used in power conversion, renewable energy, semiconductor manufacturing, aerospace and defense, telecommunications, and other industrial markets.