Richardson Electronics (NASDAQ:RELL) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of Richardson Electronics, Ltd. (NASDAQ:RELL) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.96 and traded as high as $10.88. Richardson Electronics shares last traded at $10.66, with a volume of 32,577 shares traded.

Analyst Ratings Changes

Several research firms recently issued reports on RELL. Weiss Ratings raised Richardson Electronics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Saturday, October 25th. Zacks Research raised Richardson Electronics from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Richardson Electronics Price Performance

The firm’s 50 day simple moving average is $10.52 and its two-hundred day simple moving average is $9.96. The firm has a market capitalization of $154.46 million, a P/E ratio of 1,067.07, a P/E/G ratio of 1.66 and a beta of 1.01.

Richardson Electronics (NASDAQ:RELL) last released its quarterly earnings data on Wednesday, October 8th. The technology company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.02 by $0.11. Richardson Electronics had a return on equity of 2.91% and a net margin of 0.08%.The firm had revenue of $54.61 million for the quarter, compared to the consensus estimate of $51.51 million. During the same quarter in the previous year, the business earned $0.04 earnings per share. As a group, equities research analysts forecast that Richardson Electronics, Ltd. will post 0.27 EPS for the current year.

Richardson Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Friday, November 7th were given a $0.06 dividend. The ex-dividend date was Friday, November 7th. This represents a $0.24 annualized dividend and a yield of 2.3%. Richardson Electronics’s payout ratio is presently 2,400.00%.

Insider Buying and Selling

In other news, Director Kenneth Halverson sold 4,200 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $11.33, for a total value of $47,586.00. Following the transaction, the director owned 14,345 shares in the company, valued at approximately $162,528.85. This trade represents a 22.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert J. Ben sold 9,500 shares of Richardson Electronics stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $11.45, for a total transaction of $108,775.00. Following the completion of the transaction, the chief financial officer directly owned 62,034 shares in the company, valued at approximately $710,289.30. The trade was a 13.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 33.40% of the company’s stock.

Institutional Trading of Richardson Electronics

Several large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its holdings in Richardson Electronics by 298.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company’s stock valued at $40,000 after purchasing an additional 3,117 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Richardson Electronics in the 2nd quarter worth approximately $57,000. Founders Capital Management increased its stake in shares of Richardson Electronics by 22.6% during the second quarter. Founders Capital Management now owns 6,500 shares of the technology company’s stock valued at $63,000 after buying an additional 1,200 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Richardson Electronics during the third quarter valued at approximately $104,000. Finally, Engineers Gate Manager LP bought a new position in shares of Richardson Electronics during the second quarter valued at approximately $103,000. 71.95% of the stock is owned by institutional investors.

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.