Richardson Electronics (NASDAQ:RELL) Director Jacques Belin Sells 5,000 Shares of Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Jacques Belin sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $21.46, for a total transaction of $107,300.00. Following the sale, the director owned 22,365 shares in the company, valued at approximately $479,952.90. This trade represents a 18.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Richardson Electronics Price Performance

NASDAQ:RELL opened at $20.74 on Friday. The firm’s 50-day moving average price is $17.78 and its 200-day moving average price is $14.73. The company has a market capitalization of $301.91 million, a PE ratio of 47.14, a P/E/G ratio of 1.66 and a beta of 1.28. Richardson Electronics, Ltd. has a 1-year low of $9.37 and a 1-year high of $23.15.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $55.37 million. Equities analysts anticipate that Richardson Electronics, Ltd. will post 0.5 EPS for the current fiscal year.

Richardson Electronics Announces Dividend

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

Institutional Investors Weigh In On Richardson Electronics

Several institutional investors and hedge funds have recently made changes to their positions in the company. AIGH Capital Management LLC bought a new position in Richardson Electronics during the second quarter valued at approximately $3,810,000. Bank of New York Mellon Corp bought a new stake in Richardson Electronics in the 2nd quarter worth approximately $1,995,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Richardson Electronics during the 1st quarter valued at $1,095,000. First Wilshire Securities Management Inc. boosted its stake in shares of Richardson Electronics by 13.9% in the 1st 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 last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Richardson Electronics in the 1st quarter worth $697,000. Institutional investors own 71.95% of the company’s stock.

Wall Street Analyst Weigh In

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

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.