Richardson Electronics (NASDAQ:RELL) Stock: Insider Kenneth Halverson Sells 1,000 Shares

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Kenneth Halverson sold 1,000 shares of the firm’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $21.19, for a total value of $21,190.00. Following the completion of the transaction, the director directly owned 9,865 shares in the company, valued at approximately $209,039.35. This represents a 9.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Thursday, August 20th, Kenneth Halverson sold 1,500 shares of Richardson Electronics stock. The shares were sold at an average price of $17.47, for a total value of $26,205.00.

Richardson Electronics Stock Performance

NASDAQ:RELL opened at $20.67 on Wednesday. The stock has a 50-day simple moving average of $18.28 and a two-hundred day simple moving average of $15.85. The firm has a market capitalization of $307.57 million, a PE ratio of 36.11, a P/E/G ratio of 1.00 and a beta of 1.28. Richardson Electronics, Ltd. has a 52-week low of $9.37 and a 52-week high of $23.15.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings data on Wednesday, October 7th. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.09 by $0.18. Richardson Electronics had a return on equity of 4.82% and a net margin of 3.57%. The firm had revenue of $64.92 million for the quarter, compared to the consensus estimate of $58.98 million. Equities analysts forecast that Richardson Electronics, Ltd. will post 0.78 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, November 25th. Investors of record on Friday, November 6th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, November 6th. Richardson Electronics’s dividend payout ratio is currently 41.38%.

Hedge Funds Weigh In On Richardson Electronics

A number of hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC bought a new stake in Richardson Electronics during the 2nd quarter valued at approximately $208,000. Deutsche Bank AG bought a new position in Richardson Electronics in the 2nd quarter worth approximately $230,000. Granite Investment Partners LLC bought a new position in Richardson Electronics in the 1st quarter worth approximately $143,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Richardson Electronics in the 2nd quarter worth approximately $293,000. Finally, Empowered Funds LLC grew its holdings in Richardson Electronics by 7.6% during the 1st quarter. Empowered Funds LLC now owns 20,596 shares of the technology company’s stock valued at $226,000 after buying an additional 1,454 shares in the last quarter. Institutional investors own 71.95% of the company’s stock.

Analyst Ratings Changes

RELL has been the topic of several analyst reports. Weiss Ratings raised shares of Richardson Electronics from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Northland Securities set a $26.00 price objective on shares of Richardson Electronics in a research note on Tuesday, October 13th. Zacks Research raised shares of Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 27th. Finally, Wall Street Zen upgraded shares of Richardson Electronics from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $26.00.

Richardson Electronics Company Profile

Richardson Electronics Ltd. (NASDAQ: RELL) is a global provider of engineered solutions, electronic components and replacement parts for specialized industrial and healthcare applications. The company serves original equipment manufacturers, government agencies, medical facilities, distributors and other commercial customers through its product portfolio and technical support services.

Its Power and Microwave Technologies business supplies components and systems used in power conversion, renewable energy, semiconductor manufacturing, aerospace and defense, telecommunications, and other industrial markets.