Richardson Electronics (NASDAQ:RELL) Director James Benham Sells 3,020 Shares

Richardson Electronics, Ltd. (NASDAQ:RELL) Director James Benham sold 3,020 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $17.99, for a total transaction of $54,329.80. Following the transaction, the director owned 19,345 shares in the company, valued at $348,016.55. The trade was a 13.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

James Benham also recently made the following trade(s):

• On Wednesday, July 29th, James Benham sold 164 shares of Richardson Electronics stock. The stock was sold at an average price of $19.06, for a total transaction of $3,125.84.

Richardson Electronics Trading Down 1.7%

NASDAQ:RELL opened at $17.21 on Friday. Richardson Electronics, Ltd. has a 12 month low of $9.37 and a 12 month high of $23.15. The stock has a market capitalization of $252.85 million, a price-to-earnings ratio of 39.11, a PEG ratio of 1.39 and a beta of 1.28. The firm has a fifty day simple moving average of $18.34 and a two-hundred day simple moving average of $15.34.

Richardson Electronics (NASDAQ:RELL) last announced its quarterly earnings data on Wednesday, July 22nd. The technology company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.14. The firm had revenue of $66.20 million for the quarter, compared to analyst estimates of $55.37 million. Richardson Electronics had a net margin of 2.79% and a return on equity of 3.55%. Equities analysts predict that Richardson Electronics, Ltd. will post 0.5 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, August 26th. Investors of record on Friday, August 7th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, August 7th. Richardson Electronics’s payout ratio is presently 54.55%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RELL. Weiss Ratings reiterated a “hold (c)” rating on shares of Richardson Electronics in a report on Monday, July 20th. Zacks Research upgraded Richardson Electronics from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Wall Street Zen raised Richardson Electronics from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Northland Securities upgraded Richardson Electronics from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $14.00 to $24.00 in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $24.00.

Institutional Investors Weigh In On Richardson Electronics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its holdings in shares of 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 during the last quarter. Raymond James Financial Inc. acquired a new position in Richardson Electronics during the 2nd quarter valued at about $57,000. Los Angeles Capital Management LLC acquired a new position in Richardson Electronics during the 4th quarter valued at about $91,000. Engineers Gate Manager LP bought a new stake in Richardson Electronics during the 2nd quarter worth approximately $103,000. Finally, Hsbc Holdings PLC bought a new stake in Richardson Electronics during the 2nd quarter worth approximately $208,000. 71.95% of the stock is owned by institutional investors.

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.