Richardson Electronics, Ltd. (NASDAQ:RELL) Director Kenneth Halverson Acquires 2,500 Shares

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Kenneth Halverson bought 2,500 shares of the stock in a transaction dated Monday, April 22nd. The stock was purchased at an average cost of $10.05 per share, for a total transaction of $25,125.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at approximately $50,250. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Kenneth Halverson also recently made the following trade(s):

• On Monday, January 29th, Kenneth Halverson bought 2,500 shares of Richardson Electronics stock. The stock was purchased at an average cost of $10.06 per share, for a total transaction of $25,150.00.

Richardson Electronics Stock Up 1.9 %

Shares of NASDAQ:RELL opened at $10.31 on Wednesday. Richardson Electronics, Ltd. has a 12 month low of $8.08 and a 12 month high of $19.58. The company’s 50-day moving average price is $9.08 and its two-hundred day moving average price is $10.70. The firm has a market cap of $147.21 million, a P/E ratio of 36.82, a P/E/G ratio of 7.74 and a beta of 1.01.

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

Richardson Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.24 dividend on an annualized basis and a yield of 2.33%. Richardson Electronics’s payout ratio is presently 85.71%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its position in Richardson Electronics by 106.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,240 shares of the technology company’s stock valued at $30,000 after purchasing an additional 1,157 shares during the period. Quantbot Technologies LP bought a new stake in Richardson Electronics during the 3rd quarter worth approximately $29,000. Morgan Dempsey Capital Management LLC grew its stake in shares of Richardson Electronics by 34.9% during the 3rd quarter. Morgan Dempsey Capital Management LLC now owns 9,759 shares of the technology company’s stock worth $107,000 after acquiring an additional 2,523 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Richardson Electronics during the 3rd quarter worth approximately $169,000. Finally, Kovack Advisors Inc. grew its stake in shares of Richardson Electronics by 70.8% during the 4th quarter. Kovack Advisors Inc. now owns 27,500 shares of the technology company’s stock worth $367,000 after acquiring an additional 11,400 shares in the last quarter. 71.95% of the stock is currently owned by institutional investors and hedge funds.

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.