Richardson Electronics (NASDAQ:RELL) CFO Sells $59,500.00 in Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) CFO Robert Ben sold 5,000 shares of Richardson Electronics stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $11.90, for a total transaction of $59,500.00. Following the sale, the chief financial officer owned 57,034 shares of the company’s stock, valued at approximately $678,704.60. The trade was a 8.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Richardson Electronics Price Performance

Shares of NASDAQ RELL opened at $11.36 on Monday. Richardson Electronics, Ltd. has a 12-month low of $7.57 and a 12-month high of $13.60. The company has a market capitalization of $164.95 million, a PE ratio of 227.25, a price-to-earnings-growth ratio of 1.78 and a beta of 1.09. The firm’s 50-day moving average is $10.98 and its two-hundred day moving average is $10.48.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings data on Wednesday, January 7th. The technology company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The firm had revenue of $52.29 million during the quarter, compared to analysts’ expectations of $49.90 million. Richardson Electronics had a return on equity of 3.30% and a net margin of 0.38%.During the same quarter last year, the business posted ($0.05) EPS. On average, analysts forecast that Richardson Electronics, Ltd. will post 0.27 EPS for the current fiscal year.

Richardson Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Friday, February 6th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, February 6th. Richardson Electronics’s dividend payout ratio is presently 480.00%.

Institutional Trading of Richardson Electronics

Several hedge funds have recently bought and sold shares of RELL. Tower Research Capital LLC TRC grew its stake in shares of Richardson Electronics by 298.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company’s stock worth $40,000 after purchasing an additional 3,117 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Richardson Electronics in the 2nd quarter worth $57,000. Engineers Gate Manager LP purchased a new position in Richardson Electronics in the 2nd quarter worth about $103,000. GSA Capital Partners LLP purchased a new position in shares of Richardson Electronics in the third quarter worth approximately $104,000. Finally, Wedbush Securities Inc. grew its position in Richardson Electronics by 15.3% during the 2nd quarter. Wedbush Securities Inc. now owns 14,814 shares of the technology company’s stock worth $143,000 after purchasing an additional 1,970 shares in the last quarter. 71.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Weiss Ratings downgraded Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, January 9th. Northland Securities set a $11.00 price target on Richardson Electronics in a report on Thursday, January 22nd. Finally, Zacks Research cut shares of Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $11.00.

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.