Richardson Electronics (NASDAQ:RELL) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Richardson Electronics, Ltd. (NASDAQ:RELL)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.58 and traded as high as $13.98. Richardson Electronics shares last traded at $13.80, with a volume of 154,146 shares trading hands.

Analyst Ratings Changes

Several research analysts have commented on the stock. Northland Securities set a $11.00 price target on shares of Richardson Electronics in a report on Thursday, January 22nd. Zacks Research downgraded Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, Weiss Ratings lowered Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $11.00.

Richardson Electronics Trading Up 4.9%

The stock’s fifty day moving average price is $11.26 and its 200 day moving average price is $10.58. The stock has a market cap of $200.38 million, a P/E ratio of 276.06, a price-to-earnings-growth ratio of 2.16 and a beta of 1.09.

Richardson Electronics (NASDAQ:RELL) last released its earnings results on Wednesday, January 7th. The technology company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). Richardson Electronics had a return on equity of 3.30% and a net margin of 0.38%.The business had revenue of $52.29 million for the quarter, compared to analysts’ expectations of $49.90 million. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. On average, analysts anticipate that Richardson Electronics, Ltd. will post 0.27 earnings per share for the current year.

Richardson Electronics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Friday, February 6th will be given a $0.06 dividend. The ex-dividend date is Friday, February 6th. This represents a $0.24 dividend on an annualized basis and a yield of 1.7%. Richardson Electronics’s payout ratio is presently 480.00%.

Insider Buying and Selling

In related news, CFO Robert J. Ben sold 5,000 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $11.90, for a total transaction of $59,500.00. Following the transaction, the chief financial officer owned 57,034 shares of the company’s stock, valued at approximately $678,704.60. This trade represents a 8.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jens Frank Ruppert sold 17,000 shares of Richardson Electronics stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $12.09, for a total transaction of $205,530.00. Following the completion of the transaction, the executive vice president owned 39,500 shares in the company, valued at approximately $477,555. The trade was a 30.09% decrease in their position. The SEC filing for this sale provides additional information. 33.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Aristides Capital LLC boosted its holdings in Richardson Electronics by 4.7% during the 4th quarter. Aristides Capital LLC now owns 20,940 shares of the technology company’s stock valued at $228,000 after acquiring an additional 940 shares during the period. Nuveen LLC boosted its stake in shares of Richardson Electronics by 9.7% during 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. Empowered Funds LLC boosted its stake in shares of Richardson Electronics by 9.0% during the fourth quarter. Empowered Funds LLC now owns 19,142 shares of the technology company’s stock valued at $208,000 after purchasing an additional 1,587 shares during the period. Wedbush Securities Inc. grew its holdings in shares of Richardson Electronics by 15.3% in the second quarter. Wedbush Securities Inc. now owns 14,814 shares of the technology company’s stock worth $143,000 after purchasing an additional 1,970 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake 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. Hedge funds and other 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.