Richardson Electronics (NASDAQ:RELL) Share Price Passes Above Two Hundred Day Moving Average Following Insider Selling

Richardson Electronics, Ltd. (NASDAQ:RELL) shares passed above its 200-day moving average during trading on Monday after an insider bought additional shares in the company. The stock has a 200-day moving average of $9.59 and traded as high as $11.49. Richardson Electronics shares last traded at $11.30, with a volume of 114,479 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RELL shares. Zacks Research raised shares of Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Richardson Electronics in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Richardson Electronics Stock Performance

The firm’s 50 day moving average is $10.10 and its two-hundred day moving average is $9.59. The stock has a market capitalization of $163.74 million, a PE ratio of 1,131.13, a P/E/G ratio of 1.68 and a beta of 0.97.

Richardson Electronics (NASDAQ:RELL) last posted its earnings results on Wednesday, October 8th. The technology company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.11. Richardson Electronics had a net margin of 0.08% and a return on equity of 2.91%. The firm had revenue of $54.61 million for the quarter, compared to the consensus estimate of $51.51 million. During the same period last year, the firm posted $0.04 EPS. On average, analysts anticipate that Richardson Electronics, Ltd. will post 0.27 EPS for the current year.

Richardson Electronics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 7th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $0.24 dividend on an annualized basis and a yield of 2.1%. Richardson Electronics’s payout ratio is currently 2,400.00%.

Hedge Funds Weigh In On Richardson Electronics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its holdings in shares of Richardson Electronics by 298.8% during 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in Richardson Electronics in the second quarter valued at approximately $57,000. Founders Capital Management grew its stake in Richardson Electronics by 22.6% during the second quarter. Founders Capital Management now owns 6,500 shares of the technology company’s stock worth $63,000 after buying an additional 1,200 shares during the period. Engineers Gate Manager LP purchased a new stake in Richardson Electronics during the second quarter worth approximately $103,000. Finally, Wedbush Securities Inc. purchased a new stake in Richardson Electronics during the first quarter worth approximately $143,000. Institutional investors and hedge funds own 71.95% of the company’s stock.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. engages in the provision of engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and radio frequency (RF), microwave and power components used in semiconductor 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.