Richardson Electronics (NASDAQ:RELL) Shares Pass Above 200 Day Moving Average – Time to Sell?

Richardson Electronics, Ltd. (NASDAQ:RELL) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.00 and traded as high as $11.62. Richardson Electronics shares last traded at $11.33, with a volume of 59,952 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RELL. Northland Securities set a $11.00 target price on Richardson Electronics in a research note on Thursday, January 22nd. Zacks Research lowered shares of Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $11.00.

Richardson Electronics Trading Up 3.8%

The firm has a 50-day moving average of $11.87 and a 200 day moving average of $11.00. The stock has a market capitalization of $164.51 million, a price-to-earnings ratio of 226.65, a PEG ratio of 1.71 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) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $52.29 million during the quarter, compared to analyst estimates 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 in the previous year, the firm posted ($0.05) EPS. Equities research 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. Investors of record on Friday, February 6th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $0.24 annualized dividend and a yield of 2.1%. Richardson Electronics’s dividend payout ratio is presently 480.00%.

Insider Activity at Richardson Electronics

In other Richardson Electronics news, Director Kenneth Halverson sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $13.09, for a total transaction of $130,900.00. Following the sale, the director directly owned 14,345 shares in the company, valued at approximately $187,776.05. The trade was a 41.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert J. Ben sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $11.90, for a total transaction of $59,500.00. Following the completion of the sale, the chief financial officer directly owned 57,034 shares of the company’s stock, valued at approximately $678,704.60. This represents a 8.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 36,000 shares of company stock worth $447,890 in the last 90 days. Corporate insiders own 33.40% of the company’s stock.

Institutional Investors Weigh In On Richardson Electronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LP lifted its position in Richardson Electronics by 2.5% in the third quarter. Royce & Associates LP now owns 1,389,175 shares of the technology company’s stock worth $13,600,000 after purchasing an additional 34,000 shares during the period. First Wilshire Securities Management Inc. lifted its holdings in shares of Richardson Electronics by 12.0% in the second quarter. First Wilshire Securities Management Inc. now owns 838,077 shares of the technology company’s stock valued at $8,087,000 after buying an additional 89,603 shares during the period. State Street Corp boosted its stake in Richardson Electronics by 1.9% during the fourth quarter. State Street Corp now owns 243,427 shares of the technology company’s stock valued at $2,648,000 after buying an additional 4,629 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Richardson Electronics by 7.3% during the first quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company’s stock worth $950,000 after acquiring an additional 5,802 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in Richardson Electronics by 17.0% during the first quarter. Acadian Asset Management LLC now owns 83,273 shares of the technology company’s stock worth $928,000 after acquiring an additional 12,097 shares during the period. Institutional investors own 71.95% of the company’s stock.

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.