Richardson Electronics, Ltd. (NASDAQ:RELL) Director Paul J. Plante Sells 15,000 Shares of Stock

Richardson Electronics, Ltd. (NASDAQ:RELL – Get Rating) Director Paul J. Plante sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $18.09, for a total transaction of $271,350.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Richardson Electronics Stock Performance

Shares of NASDAQ:RELL opened at $18.19 on Tuesday. The firm has a fifty day moving average price of $18.22 and a 200 day moving average price of $21.33. Richardson Electronics, Ltd. has a fifty-two week low of $13.10 and a fifty-two week high of $27.24. The firm has a market cap of $257.15 million, a price-to-earnings ratio of 9.73, a P/E/G ratio of 0.61 and a beta of 0.80.

Richardson Electronics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 24th. Investors of record on Friday, May 5th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.32%. Richardson Electronics’s dividend payout ratio is 12.83%.

Hedge Funds Weigh In On Richardson Electronics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Portolan Capital Management LLC bought a new position in Richardson Electronics during the third quarter valued at $10,664,000. Millennium Management LLC lifted its position in Richardson Electronics by 2,466.0% during the fourth quarter. Millennium Management LLC now owns 360,004 shares of the technology company’s stock valued at $7,679,000 after purchasing an additional 345,974 shares during the last quarter. FMR LLC lifted its position in Richardson Electronics by 36.2% during the first quarter. FMR LLC now owns 665,486 shares of the technology company’s stock valued at $14,854,000 after purchasing an additional 176,813 shares during the last quarter. Aldebaran Capital LLC bought a new position in Richardson Electronics during the fourth quarter valued at $3,603,000. Finally, Ancora Advisors LLC lifted its position in Richardson Electronics by 490.0% during the first quarter. Ancora Advisors LLC now owns 155,515 shares of the technology company’s stock valued at $990,000 after purchasing an additional 129,158 shares during the last quarter. Institutional investors own 53.93% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Richardson Electronics in a research report on Thursday, May 18th. They issued a “hold” rating for the company.

Richardson Electronics Company Profile

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Richardson Electronics Ltd. engages in the provision of engineered solutions and distributes electronic components to the electron device marketplace. It operates through the following segments: Power and Microwave Technologies Group (PMT), Canvys, and Healthcare. The PMT segment provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair-all through its existing global infrastructure.