Richardson Electronics (NASDAQ:RELL) CFO Robert Ben Sells 5,000 Shares of Stock

Key Points

• CFO Robert Ben sold 5,000 Richardson Electronics shares at an average price of $21.01, generating $105,050 and reducing his direct ownership by 7.63% to 60,534 shares.
• Richardson Electronics reported quarterly EPS of $0.27, well above the $0.09 consensus estimate, while revenue of $64.92 million also exceeded expectations.
• The company declared a quarterly dividend of $0.06 per share, equivalent to $0.24 annually and a 1.2% yield; analysts maintain a consensus “Buy” rating with a $26 price target.

Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) CFO Robert Ben sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $21.01, for a total transaction of $105,050.00. Following the sale, the chief financial officer directly owned 60,534 shares of the company's stock, valued at approximately $1,271,819.34. This trade represents a 7.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Richardson Electronics Price Performance

Shares of Richardson Electronics stock traded down $1.33 during trading on Friday, reaching $19.60. 98,341 shares of the stock traded hands, compared to its average volume of 211,205. Richardson Electronics, Ltd. has a 52-week low of $9.37 and a 52-week high of $23.15. The business has a fifty day simple moving average of $18.12 and a two-hundred day simple moving average of $15.71. The company has a market capitalization of $291.63 million, a price-to-earnings ratio of 33.82, a P/E/G ratio of 1.08 and a beta of 1.32.

Richardson Electronics (NASDAQ:RELL - Get Free Report) last released its quarterly earnings data on Wednesday, October 7th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.09 by $0.18. Richardson Electronics had a net margin of 3.57% and a return on equity of 4.82%. The business had revenue of $64.92 million during the quarter, compared to analyst estimates of $58.98 million. On average, research analysts predict that Richardson Electronics, Ltd. will post 0.78 earnings per share for the current fiscal year.

Richardson Electronics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Friday, November 6th will be paid a $0.06 dividend. The ex-dividend date is Friday, November 6th. This represents a $0.24 dividend on an annualized basis and a yield of 1.2%. Richardson Electronics's dividend payout ratio (DPR) is presently 41.38%.

Institutional Investors Weigh In On Richardson Electronics

Several institutional investors have recently bought and sold shares of the company. Granite Investment Partners LLC purchased a new position in shares of Richardson Electronics during the 1st quarter worth $143,000. Hsbc Holdings PLC acquired a new stake in Richardson Electronics during the second quarter worth about $208,000. Empowered Funds LLC boosted its holdings in Richardson Electronics by 7.6% in the 1st quarter. Empowered Funds LLC now owns 20,596 shares of the technology company's stock valued at $226,000 after purchasing an additional 1,454 shares during the last quarter. Deutsche Bank AG acquired a new position in Richardson Electronics in the 2nd quarter valued at about $230,000. Finally, Ritholtz Wealth Management grew its stake in shares of Richardson Electronics by 19.1% in the 1st quarter. Ritholtz Wealth Management now owns 22,958 shares of the technology company's stock valued at $251,000 after buying an additional 3,680 shares during the period. 71.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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