Insider Selling: Richardson Electronics (NASDAQ:RELL) CFO Sells 5,000 Shares of Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) CFO Robert Ben sold 5,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was 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 of the company’s stock, valued at $678,704.60. This represents a 8.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Richardson Electronics Stock Performance

Shares of Richardson Electronics stock traded up $0.38 during midday trading on Friday, hitting $11.22. The company had a trading volume of 13,285 shares, compared to its average volume of 126,851. Richardson Electronics, Ltd. has a 52-week low of $7.57 and a 52-week high of $13.60. The company has a 50 day moving average of $10.96 and a 200 day moving average of $10.46. The stock has a market capitalization of $162.91 million, a P/E ratio of 224.44, a P/E/G ratio of 1.84 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, meeting analysts’ consensus estimates of ($0.01). The firm had revenue of $52.29 million for the quarter, compared to the consensus estimate 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 posted ($0.05) earnings per share. Equities research analysts forecast that Richardson Electronics, Ltd. will post 0.27 EPS for the current year.

Richardson Electronics Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Richardson Electronics

Several institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC lifted its position in shares of Richardson Electronics by 298.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company’s stock worth $40,000 after purchasing an additional 3,117 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Richardson Electronics in the 2nd quarter valued at $57,000. Engineers Gate Manager LP acquired a new stake in shares of Richardson Electronics during the second quarter worth about $103,000. GSA Capital Partners LLP acquired a new stake in Richardson Electronics during the 3rd quarter worth approximately $104,000. Finally, Wedbush Securities Inc. lifted its holdings in shares of Richardson Electronics by 15.3% during the second quarter. Wedbush Securities Inc. now owns 14,814 shares of the technology company’s stock worth $143,000 after purchasing an additional 1,970 shares during the period. Institutional investors and hedge funds 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.