Richardson Electronics, Ltd. (NASDAQ:RELL) Director Kenneth Halverson Purchases 2,500 Shares

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Kenneth Halverson bought 2,500 shares of Richardson Electronics stock in a transaction that occurred on Monday, April 22nd. The shares were acquired at an average cost of $10.05 per share, with a total value of $25,125.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $50,250. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Kenneth Halverson also recently made the following trade(s):

• On Monday, January 29th, Kenneth Halverson purchased 2,500 shares of Richardson Electronics stock. The stock was bought at an average cost of $10.06 per share, for a total transaction of $25,150.00.

Richardson Electronics Stock Up 1.9 %

Shares of RELL traded up $0.19 during mid-day trading on Tuesday, reaching $10.31. 97,946 shares of the stock traded hands, compared to its average volume of 158,363. Richardson Electronics, Ltd. has a 12-month low of $8.08 and a 12-month high of $19.58. The firm has a market cap of $147.23 million, a price-to-earnings ratio of 36.14, a P/E/G ratio of 7.74 and a beta of 1.01. The stock has a fifty day simple moving average of $9.06 and a 200 day simple moving average of $10.70.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings data on Thursday, April 11th. The technology company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. Richardson Electronics had a net margin of 1.97% and a return on equity of 1.09%. The business had revenue of $52.38 million during the quarter, compared to the consensus estimate of $56.00 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. On average, equities research analysts expect that Richardson Electronics, Ltd. will post 0.09 earnings per share for the current fiscal year.

Richardson Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Friday, May 10th will be given a $0.06 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.24 annualized dividend and a yield of 2.33%. Richardson Electronics’s dividend payout ratio (DPR) is currently 85.71%.

Institutional Trading of Richardson Electronics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RELL. DDD Partners LLC increased its position in shares of Richardson Electronics by 46.2% during the 3rd quarter. DDD Partners LLC now owns 690,126 shares of the technology company’s stock worth $7,246,000 after purchasing an additional 218,244 shares during the last quarter. Morgan Dempsey Capital Management LLC lifted its holdings in shares of Richardson Electronics by 34.9% in the third quarter. Morgan Dempsey Capital Management LLC now owns 9,759 shares of the technology company’s stock valued at $107,000 after purchasing an additional 2,523 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in Richardson Electronics during the third quarter worth $524,000. Parthenon LLC purchased a new position in shares of Richardson Electronics in the third quarter valued at $582,000. Finally, Victory Capital Management Inc. boosted its stake in Richardson Electronics by 30.9% during the third quarter. Victory Capital Management Inc. now owns 100,723 shares of the technology company’s stock valued at $1,101,000 after buying an additional 23,787 shares during the period. 71.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Richardson Electronics from a “hold” rating to a “sell” rating in a research report on Thursday, January 11th.

About Richardson Electronics

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.