Richardson Electronics (NASDAQ:RELL) CFO Robert Ben Sells 4,000 Shares

Richardson Electronics, Ltd. (NASDAQ:RELL) CFO Robert Ben sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $12.99, for a total value of $51,960.00. Following the completion of the transaction, the chief financial officer directly owned 53,034 shares in the company, valued at $688,911.66. This trade represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Richardson Electronics Price Performance

NASDAQ RELL traded down $0.64 during trading hours on Monday, hitting $13.04. The company’s stock had a trading volume of 98,696 shares, compared to its average volume of 160,357. The company’s 50 day simple moving average is $11.47 and its two-hundred day simple moving average is $10.70. Richardson Electronics, Ltd. has a 12 month low of $7.57 and a 12 month high of $15.34. The company has a market cap of $189.33 million, a P/E ratio of 260.53, a price-to-earnings-growth ratio of 2.15 and a beta of 1.09.

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

Richardson Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Friday, February 6th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, February 6th. Richardson Electronics’s payout ratio is currently 480.00%.

Institutional Trading of Richardson Electronics

Several institutional investors and hedge funds have recently modified their holdings of RELL. First Wilshire Securities Management Inc. lifted its stake in shares of Richardson Electronics by 12.0% during the 2nd 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 in the last quarter. AMH Equity Ltd bought a new stake in Richardson Electronics during the third quarter valued at about $783,000. Marshall Wace LLP purchased a new position in shares of Richardson Electronics in the fourth quarter valued at about $626,000. Walleye Capital LLC bought a new position in shares of Richardson Electronics in the fourth quarter worth about $497,000. Finally, Susquehanna International Group LLP boosted its stake in shares of Richardson Electronics by 840.6% in the third quarter. Susquehanna International Group LLP now owns 48,740 shares of the technology company’s stock worth $477,000 after acquiring an additional 43,558 shares during the period. 71.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RELL has been the topic of a number of research reports. 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 price target on shares of Richardson Electronics in a research report on Thursday, January 22nd. Finally, Weiss Ratings downgraded shares of Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $11.00.

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.