Richardson Electronics (NASDAQ:RELL) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Richardson Electronics, Ltd. (NASDAQ:RELL)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.91 and traded as high as $11.44. Richardson Electronics shares last traded at $11.42, with a volume of 86,022 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Zacks Research downgraded 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 target price on shares of Richardson Electronics in a report on Thursday, January 22nd. Finally, Weiss Ratings cut shares of Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, January 9th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $11.00.

Richardson Electronics Stock Up 2.1%

The company has a market capitalization of $165.82 million, a P/E ratio of 228.45, a PEG ratio of 1.75 and a beta of 1.09. The firm has a 50-day moving average price of $11.82 and a two-hundred day moving average price of $10.91.

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

Richardson Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Friday, February 6th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, February 6th. Richardson Electronics’s payout ratio is presently 480.00%.

Insider Transactions at Richardson Electronics

In other Richardson Electronics news, Director Kenneth Halverson sold 10,000 shares of the company’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $13.09, for a total value of $130,900.00. Following the sale, the director directly owned 14,345 shares in the company, valued at $187,776.05. This represents a 41.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jens Frank Ruppert sold 17,000 shares of the company’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $12.09, for a total value of $205,530.00. Following the completion of the sale, the executive vice president owned 39,500 shares in the company, valued at $477,555. This trade represents a 30.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 36,000 shares of company stock valued at $447,890. Corporate insiders own 33.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RELL. AMH Equity Ltd bought a new position in Richardson Electronics during the 3rd quarter valued at about $783,000. ARS Investment Partners LLC grew its stake in Richardson Electronics by 11.7% during the second quarter. ARS Investment Partners LLC now owns 50,944 shares of the technology company’s stock worth $492,000 after buying an additional 5,353 shares during the last quarter. First Wilshire Securities Management Inc. increased its holdings in shares of Richardson Electronics by 12.0% during the second quarter. First Wilshire Securities Management Inc. now owns 838,077 shares of the technology company’s stock worth $8,087,000 after buying an additional 89,603 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Richardson Electronics by 109.8% during the second quarter. State Board of Administration of Florida Retirement System now owns 25,479 shares of the technology company’s stock worth $246,000 after buying an additional 13,337 shares in the last quarter. Finally, Wedbush Securities Inc. raised its stake in shares of Richardson Electronics by 15.3% in the second quarter. Wedbush Securities Inc. now owns 14,814 shares of the technology company’s stock valued at $143,000 after acquiring an additional 1,970 shares during the last quarter. 71.95% of the stock is owned by institutional investors.

Richardson Electronics Company Profile

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.