Insider Buying: Richardson Electronics, Ltd. (NASDAQ:RELL) Director Acquires 5,000 Shares of Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Robert H. Kluge purchased 5,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average cost of $11.79 per share, for a total transaction of $58,950.00. Following the purchase, the director now owns 35,000 shares in the company, valued at $412,650. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Richardson Electronics Stock Performance

Richardson Electronics stock traded down $0.07 during midday trading on Monday, reaching $11.81. The stock had a trading volume of 52,864 shares, compared to its average volume of 166,352. Richardson Electronics, Ltd. has a 1-year low of $10.25 and a 1-year high of $27.24. The firm’s fifty day simple moving average is $11.16 and its 200-day simple moving average is $13.77. The stock has a market capitalization of $168.65 million, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings data on Thursday, October 12th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. Richardson Electronics had a net margin of 6.96% and a return on equity of 9.56%. The company had revenue of $52.58 million for the quarter, compared to the consensus estimate of $51.10 million. During the same period last year, the company earned $0.45 earnings per share. On average, sell-side analysts anticipate that Richardson Electronics, Ltd. will post 0.31 earnings per share for the current fiscal year.

Richardson Electronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Friday, November 10th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.03%. Richardson Electronics’s dividend payout ratio is 20.17%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RELL. StockNews.com raised shares of Richardson Electronics from a “sell” rating to a “hold” rating in a report on Sunday, November 12th. TheStreet downgraded shares of Richardson Electronics from a “b-” rating to a “c+” rating in a research report on Thursday, November 2nd.

Institutional Trading of Richardson Electronics

A number of hedge funds and other institutional investors have recently modified their holdings of RELL. JPMorgan Chase & Co. boosted its position in Richardson Electronics by 48.9% during the first quarter. JPMorgan Chase & Co. now owns 2,553 shares of the technology company’s stock valued at $32,000 after purchasing an additional 839 shares during the last quarter. UBS Group AG boosted its holdings in shares of Richardson Electronics by 85.4% in the 2nd quarter. UBS Group AG now owns 1,854 shares of the technology company’s stock valued at $27,000 after buying an additional 854 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Richardson Electronics by 7.8% in the third quarter. Royal Bank of Canada now owns 12,504 shares of the technology company’s stock valued at $189,000 after buying an additional 904 shares in the last quarter. BlackRock Inc. increased its holdings in Richardson Electronics by 0.4% during the first quarter. BlackRock Inc. now owns 239,083 shares of the technology company’s stock worth $5,336,000 after buying an additional 933 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Richardson Electronics by 1.4% during the third quarter. Bank of New York Mellon Corp now owns 80,604 shares of the technology company’s stock worth $1,217,000 after acquiring an additional 1,079 shares in the last quarter. Institutional investors and hedge funds own 57.46% of the company’s stock.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. provides engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and RF, Microwave and power components for semiconductors; and 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.