Kenneth Halverson Sells 4,200 Shares of Richardson Electronics (NASDAQ:RELL) Stock

Key Points

• Director Kenneth Halverson sold 4,200 shares of Richardson Electronics at an average price of $11.33, reducing his holdings by 22.65% to 14,345 shares.
• Richardson Electronics reported earnings of $0.13 per share, significantly beating analysts' estimates of $0.02, and revenue for the quarter was $54.61 million compared to forecasts of $51.51 million.
• The company has declared a quarterly dividend of $0.06 per share, representing an annual yield of 2.1%, with the ex-dividend date set for November 7th.

Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) Director Kenneth Halverson sold 4,200 shares of the business's stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $11.33, for a total transaction of $47,586.00. Following the transaction, the director owned 14,345 shares of the company's stock, valued at approximately $162,528.85. This trade represents a 22.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Richardson Electronics Stock Up 3.2%

Shares of NASDAQ RELL traded up $0.35 during trading hours on Monday, hitting $11.30. 114,479 shares of the stock were exchanged, compared to its average volume of 62,217. Richardson Electronics, Ltd. has a 12 month low of $7.57 and a 12 month high of $15.51. The company has a market cap of $163.74 million, a PE ratio of 1,131.13, a PEG ratio of 1.68 and a beta of 0.97. The firm has a fifty day moving average price of $10.10 and a 200-day moving average price of $9.59.

Richardson Electronics (NASDAQ:RELL - Get Free Report) last issued its quarterly earnings results on Wednesday, October 8th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.11. Richardson Electronics had a net margin of 0.08% and a return on equity of 2.91%. The business had revenue of $54.61 million for the quarter, compared to analyst estimates of $51.51 million. During the same quarter in the prior year, the business posted $0.04 EPS. As a group, equities analysts anticipate that Richardson Electronics, Ltd. will post 0.27 earnings per share for the current fiscal year.

Richardson Electronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 7th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, November 7th. This represents a $0.24 dividend on an annualized basis and a yield of 2.1%. Richardson Electronics's dividend payout ratio is presently 2,400.00%.

Analyst Ratings Changes

A number of analysts have recently weighed in on RELL shares. Weiss Ratings reiterated a "sell (d+)" rating on shares of Richardson Electronics in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Richardson Electronics from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold".

Institutional Trading of Richardson Electronics

A number of hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP boosted its holdings in Richardson Electronics by 7.7% during the first quarter. Royce & Associates LP now owns 1,344,175 shares of the technology company's stock worth $15,001,000 after buying an additional 95,899 shares in the last quarter. First Wilshire Securities Management Inc. lifted its holdings in Richardson Electronics by 12.0% during the second quarter. First Wilshire Securities Management Inc. now owns 838,077 shares of the technology company's stock valued at $8,087,000 after purchasing an additional 89,603 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Richardson Electronics by 7.3% during the first quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company's stock valued at $950,000 after purchasing an additional 5,802 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Richardson Electronics by 17.0% during the first quarter. Acadian Asset Management LLC now owns 83,273 shares of the technology company's stock valued at $928,000 after purchasing an additional 12,097 shares in the last quarter. Finally, ARS Investment Partners LLC lifted its holdings in Richardson Electronics by 11.7% during the second quarter. ARS Investment Partners LLC now owns 50,944 shares of the technology company's stock valued at $492,000 after purchasing an additional 5,353 shares in the last quarter. 71.95% of the stock is owned by hedge funds and other institutional investors.

About Richardson Electronics

Richardson Electronics, Ltd. engages in the provision of engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and radio frequency (RF), microwave and power components used in semiconductor manufacturing equipment, RF, and wireless and industrial power applications, as well as various applications including broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology.

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