Richardson Electronics, Ltd. (NASDAQ:RELL) Announces Quarterly Dividend of $0.06

Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) declared a quarterly dividend on Wednesday, April 10th, Zacks reports. Investors of record on Friday, May 10th will be paid a dividend of 0.06 per share by the technology company on Wednesday, May 29th. This represents a $0.24 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Thursday, May 9th.

Richardson Electronics Stock Performance

RELL traded down $0.97 during trading on Friday, hitting $9.79. 335,959 shares of the stock were exchanged, compared to its average volume of 161,150. Richardson Electronics has a 1 year low of $8.08 and a 1 year high of $19.58. The firm has a market cap of $139.80 million, a price-to-earnings ratio of 35.36, a P/E/G ratio of 3.46 and a beta of 1.01. The firm has a 50 day simple moving average of $8.98 and a 200 day simple moving average of $10.75.

Richardson Electronics (NASDAQ:RELL - Get Free Report) last announced its quarterly earnings results on Thursday, April 11th. The technology company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. Richardson Electronics had a return on equity of 1.09% and a net margin of 1.97%. The firm had revenue of $52.38 million for the quarter, compared to analyst estimates of $56.00 million. During the same quarter last year, the firm posted $0.44 earnings per share. As a group, equities analysts anticipate that Richardson Electronics will post 0.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Richardson Electronics from a "hold" rating to a "sell" rating in a research report on Thursday, January 11th.

Insider Buying and Selling at Richardson Electronics

In related news, Director Kenneth Halverson purchased 2,500 shares of Richardson Electronics stock in a transaction dated Monday, January 29th. The stock was purchased at an average cost of $10.06 per share, with a total value of $25,150.00. Following the transaction, the director now owns 2,500 shares in the company, valued at approximately $25,150. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 32.50% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. UBS Group AG grew its holdings in Richardson Electronics by 85.4% in the second quarter. UBS Group AG now owns 1,854 shares of the technology company's stock worth $27,000 after purchasing an additional 854 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Richardson Electronics by 48.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,553 shares of the technology company's stock worth $32,000 after purchasing an additional 839 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in Richardson Electronics during the 1st quarter valued at about $40,000. BNP Paribas Arbitrage SNC purchased a new stake in Richardson Electronics in the third quarter valued at about $44,000. Finally, State of Wyoming acquired a new stake in Richardson Electronics in the fourth quarter worth about $51,000. Institutional investors own 71.95% of the company's stock.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. provides engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and RF, Microwave and power components for semiconductors; and 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.