Insider Buying: Richardson Electronics, Ltd. (NASDAQ:RELL) Director Buys 5,000 Shares of Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Paul J. Plante bought 5,000 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were acquired at an average cost of $9.96 per share, with a total value of $49,800.00. Following the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $49,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Richardson Electronics Stock Up 4.1 %

Shares of Richardson Electronics stock traded up $0.40 during trading hours on Thursday, reaching $10.26. 34,860 shares of the company’s stock were exchanged, compared to its average volume of 158,983. Richardson Electronics, Ltd. has a 1 year low of $8.08 and a 1 year high of $19.58. The company has a market capitalization of $146.51 million, a P/E ratio of 35.21, a price-to-earnings-growth ratio of 7.33 and a beta of 1.01. The business has a fifty day moving average of $9.02 and a two-hundred day moving average of $10.71.

Richardson Electronics (NASDAQ:RELL) last announced its quarterly earnings results on Thursday, April 11th. The technology company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. The firm had revenue of $52.38 million for the quarter, compared to analysts’ expectations of $56.00 million. Richardson Electronics had a net margin of 1.97% and a return on equity of 1.09%. During the same quarter in the previous year, the company posted $0.44 EPS. As a group, research analysts predict that Richardson Electronics, Ltd. will post 0.09 EPS for the current year.

Richardson Electronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.24 annualized dividend and a dividend yield of 2.34%. Richardson Electronics’s payout ratio is 85.71%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Richardson Electronics by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,005,163 shares of the technology company’s stock valued at $22,435,000 after acquiring an additional 19,650 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Richardson Electronics by 3.0% during the 1st quarter. Renaissance Technologies LLC now owns 850,873 shares of the technology company’s stock valued at $10,585,000 after acquiring an additional 24,908 shares during the last quarter. BlackRock Inc. boosted its position in shares of Richardson Electronics by 240.9% during the 2nd quarter. BlackRock Inc. now owns 815,076 shares of the technology company’s stock valued at $13,449,000 after acquiring an additional 575,993 shares during the last quarter. DDD Partners LLC lifted its position in Richardson Electronics by 46.2% in the third quarter. DDD Partners LLC now owns 690,126 shares of the technology company’s stock valued at $7,246,000 after buying an additional 218,244 shares during the last quarter. Finally, FMR LLC lifted its position in Richardson Electronics by 36.2% in the first quarter. FMR LLC now owns 665,486 shares of the technology company’s stock valued at $14,854,000 after buying an additional 176,813 shares during the last quarter. Institutional investors and hedge funds own 71.95% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Richardson Electronics from a “hold” rating to a “sell” rating in a report on Thursday, January 11th.

About Richardson Electronics

Richardson Electronics, Ltd. provides engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and RF, Microwave and power components for semiconductors; and manufacturing equipment, RF and wireless and industrial power applications, as well as various applications including broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology.