Richardson Electronics (NASDAQ:RELL) Director Kenneth Halverson Sells 1,500 Shares

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Kenneth Halverson sold 1,500 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $17.47, for a total value of $26,205.00. Following the completion of the transaction, the director owned 10,865 shares in the company, valued at $189,811.55. This represents a 12.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Richardson Electronics Trading Down 2.3%

Shares of RELL opened at $16.81 on Tuesday. Richardson Electronics, Ltd. has a 12-month low of $9.37 and a 12-month high of $23.15. The company has a market cap of $246.97 million, a PE ratio of 38.21, a price-to-earnings-growth ratio of 1.36 and a beta of 1.28. The stock has a 50-day moving average price of $18.31 and a 200-day moving average price of $15.40.

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

Richardson Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders 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 annualized dividend and a dividend yield of 1.4%. Richardson Electronics’s dividend payout ratio (DPR) is 54.55%.

Analyst Ratings Changes

RELL has been the subject of several research reports. Northland Securities upgraded shares of Richardson Electronics from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $14.00 to $24.00 in a research report on Tuesday, July 28th. 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, August 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Richardson Electronics in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $24.00.

Hedge Funds Weigh In On Richardson Electronics

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Richardson Electronics during the second quarter valued at about $18,874,000. First Wilshire Securities Management Inc. increased its holdings in shares of Richardson Electronics by 13.9% in the first quarter. First Wilshire Securities Management Inc. now owns 671,998 shares of the technology company’s stock worth $7,358,000 after buying an additional 82,054 shares during the period. State Street Corp increased its holdings in shares of Richardson Electronics by 1.9% in the fourth quarter. State Street Corp now owns 243,427 shares of the technology company’s stock worth $2,648,000 after buying an additional 4,629 shares during the period. AIGH Capital Management LLC bought a new stake in shares of Richardson Electronics in the 2nd quarter valued at about $3,810,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Richardson Electronics in the 2nd quarter valued at about $1,995,000. Hedge funds and other institutional investors own 71.95% of the company’s stock.

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.