Insider Selling: Richardson Electronics (NASDAQ:RELL) Director Sells 5,000 Shares of Stock

Key Points

• Director sale: Richardson Electronics Director Jacques Belin sold 5,000 shares for approximately $107,300, reducing his ownership by 18.27% to 22,365 shares.
• Strong quarterly results: The company reported quarterly earnings of $0.21 per share, beating estimates by $0.14, while revenue of $66.2 million exceeded expectations of $55.37 million.
• Positive outlook and dividend: Analysts hold a consensus “Buy” rating with a $24 price target. Richardson Electronics also declared a quarterly dividend of $0.06 per share, representing a 1.2% yield.

Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) Director Jacques Belin sold 5,000 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $21.46, for a total transaction of $107,300.00. Following the transaction, the director owned 22,365 shares in the company, valued at approximately $479,952.90. This trade represents a 18.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Richardson Electronics Stock Performance

NASDAQ:RELL traded down $0.24 during mid-day trading on Thursday, reaching $20.74. The stock had a trading volume of 633,696 shares, compared to its average volume of 204,430. The firm has a market capitalization of $301.97 million, a price-to-earnings ratio of 47.14, a PEG ratio of 1.69 and a beta of 1.28. Richardson Electronics, Ltd. has a twelve month low of $9.37 and a twelve month high of $23.15. The business has a 50 day simple moving average of $17.71 and a 200 day simple moving average of $14.66.

Richardson Electronics (NASDAQ:RELL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The technology company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.14. Richardson Electronics had a return on equity of 3.55% and a net margin of 2.79%.The company had revenue of $66.20 million for the quarter, compared to analyst estimates of $55.37 million. As a group, sell-side analysts expect that Richardson Electronics, Ltd. will post 0.5 earnings per share for the current year.

Richardson Electronics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Friday, August 7th will be paid a $0.06 dividend. The ex-dividend date is Friday, August 7th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.2%. Richardson Electronics's payout ratio is 54.55%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RELL shares. Zacks Research upgraded Richardson Electronics from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 24th. Northland Securities upgraded shares of Richardson Electronics from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $14.00 to $24.00 in a research report on Tuesday, July 28th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Richardson Electronics in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $24.00.

Institutional Investors Weigh In On Richardson Electronics

Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new position in Richardson Electronics in the 2nd quarter valued at approximately $1,995,000. GSA Capital Partners LLP acquired a new stake in Richardson Electronics in the second quarter valued at $630,000. Empowered Funds LLC grew its holdings in Richardson Electronics by 7.6% in the first 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. Lazard Asset Management LLC purchased a new position in shares of Richardson Electronics in the first quarter valued at $697,000. Finally, Aristides Capital LLC increased its position in shares of Richardson Electronics by 14.1% in the first quarter. Aristides Capital LLC now owns 23,885 shares of the technology company's stock valued at $262,000 after buying an additional 2,945 shares in the last quarter. Hedge funds and other institutional investors own 71.95% of the company's stock.

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.

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