Robert Kluge Sells 29,000 Shares of Richardson Electronics (NASDAQ:RELL) Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Robert Kluge sold 29,000 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $17.90, for a total transaction of $519,100.00. Following the completion of the transaction, the director owned 51,365 shares in the company, valued at approximately $919,433.50. This represents a 36.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Richardson Electronics Price Performance

NASDAQ RELL traded up $0.75 during mid-day trading on Monday, reaching $19.04. The stock had a trading volume of 70,059 shares, compared to its average volume of 195,064. The stock has a market cap of $277.22 million, a PE ratio of 43.27, a price-to-earnings-growth ratio of 1.45 and a beta of 1.28. The company has a fifty day moving average price of $17.52 and a 200 day moving average price of $14.45. Richardson Electronics, Ltd. has a 1 year low of $9.37 and a 1 year high of $23.15.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.14. Richardson Electronics had a return on equity of 3.57% and a net margin of 2.79%.The firm had revenue of $66.20 million during the quarter, compared to analysts’ expectations of $55.37 million. As a group, equities research analysts expect that Richardson Electronics, Ltd. will post 0.5 earnings per share for the current year.

Richardson Electronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Friday, August 7th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, August 7th. Richardson Electronics’s dividend payout ratio (DPR) is presently 54.55%.

Analysts Set New Price Targets

A number of research firms have commented on RELL. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Richardson Electronics in a research report on Monday, July 20th. Northland Securities upgraded Richardson Electronics from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $14.00 to $24.00 in a research report on Tuesday, July 28th. Finally, Zacks Research upgraded Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $24.00.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RELL. Tower Research Capital LLC TRC increased its holdings in Richardson Electronics by 298.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company’s stock worth $40,000 after acquiring an additional 3,117 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Richardson Electronics in the second quarter worth $57,000. Los Angeles Capital Management LLC bought a new stake in shares of Richardson Electronics during the 4th quarter valued at $91,000. Engineers Gate Manager LP purchased a new position in shares of Richardson Electronics during the 2nd quarter valued at $103,000. Finally, Deutsche Bank AG boosted its holdings in Richardson Electronics by 150.3% in the 4th quarter. Deutsche Bank AG now owns 11,421 shares of the technology company’s stock worth $124,000 after buying an additional 6,858 shares during the period. 71.95% of the stock is owned by hedge funds and other institutional investors.

About Richardson Electronics

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.