Richardson Electronics (NASDAQ:RELL) Shares Pass 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 Friday . The stock has a 200-day moving average of $10.58 and traded as high as $13.98. Richardson Electronics shares last traded at $13.80, with a volume of 154,146 shares trading hands.

Wall Street Analysts Forecast Growth

RELL has been the topic of several recent analyst reports. Zacks Research lowered shares of Richardson Electronics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Northland Securities set a $11.00 price objective on shares of Richardson Electronics in a research note on Thursday, January 22nd. Finally, Weiss Ratings downgraded shares of Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, January 9th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $11.00.

Richardson Electronics Stock Up 4.9%

The business’s 50 day simple moving average is $11.26 and its two-hundred day simple moving average is $10.58. The stock has a market cap of $200.35 million, a P/E ratio of 276.06, a PEG ratio of 2.06 and a beta of 1.09.

Richardson Electronics (NASDAQ:RELL) last announced its quarterly earnings results on Wednesday, January 7th. The technology company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). The company 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 period in the prior year, the company earned ($0.05) EPS. As a group, research analysts forecast that Richardson Electronics, Ltd. will post 0.27 earnings per share for the current fiscal year.

Richardson Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Friday, February 6th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, February 6th. Richardson Electronics’s payout ratio is 480.00%.

Insider Activity at Richardson Electronics

In other Richardson Electronics news, CFO Robert J. Ben sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $11.90, for a total value of $59,500.00. Following the completion of the transaction, the chief financial officer directly owned 57,034 shares in the company, valued at approximately $678,704.60. This represents a 8.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jens Frank Ruppert sold 17,000 shares of Richardson Electronics stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $12.09, for a total transaction of $205,530.00. Following the transaction, the executive vice president owned 39,500 shares in the company, valued at approximately $477,555. This trade represents a 30.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 33.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RELL. AMH Equity Ltd bought a new stake in Richardson Electronics in the third quarter valued at approximately $783,000. ARS Investment Partners LLC lifted its position in shares of Richardson Electronics by 11.7% in the 2nd quarter. ARS Investment Partners LLC now owns 50,944 shares of the technology company’s stock worth $492,000 after purchasing an additional 5,353 shares during the period. First Wilshire Securities Management Inc. boosted its stake in shares of Richardson Electronics by 12.0% in the 2nd quarter. First Wilshire Securities Management Inc. now owns 838,077 shares of the technology company’s stock valued at $8,087,000 after purchasing an additional 89,603 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Richardson Electronics during the fourth quarter worth $91,000. Finally, Goldman Sachs Group Inc. raised its stake in Richardson Electronics by 12.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 68,467 shares of the technology company’s stock worth $745,000 after buying an additional 7,412 shares during the last quarter. 71.95% of the stock is owned by institutional investors.

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.