Insider Buying: Richardson Electronics, Ltd. (NASDAQ:RELL) Director Buys 5,000 Shares of Stock

Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) Director Paul J. Plante bought 5,000 shares of Richardson Electronics stock in a transaction dated Wednesday, April 17th. The shares were bought at an average cost of $9.96 per share, for a total transaction of $49,800.00. Following the completion of the transaction, the director now owns 5,000 shares of the company's stock, valued at approximately $49,800. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Richardson Electronics Stock Performance

RELL traded up $0.27 during trading on Thursday, hitting $10.13. The stock had a trading volume of 94,457 shares, compared to its average volume of 159,819. The company has a market capitalization of $144.66 million, a PE ratio of 36.18, a PEG ratio of 7.33 and a beta of 1.01. Richardson Electronics, Ltd. has a twelve month low of $8.08 and a twelve month high of $19.58. The stock has a 50 day simple moving average of $9.04 and a two-hundred day simple moving average of $10.71.

Richardson Electronics (NASDAQ:RELL - Get Free Report) last posted its quarterly earnings results on Thursday, April 11th. The technology company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.02. The business had revenue of $52.38 million during the quarter, compared to analysts' expectations of $56.00 million. Richardson Electronics had a net margin of 1.97% and a return on equity of 1.09%. During the same quarter last year, the company posted $0.44 earnings per share. On average, equities research analysts anticipate that Richardson Electronics, Ltd. will post 0.09 EPS for the current year.

Richardson Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Friday, May 10th will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.24 annualized dividend and a dividend yield of 2.37%. Richardson Electronics's dividend payout ratio (DPR) is presently 85.71%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC purchased a new position in Richardson Electronics in the first quarter valued at $40,000. UBS Group AG increased 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 valued at $27,000 after buying an additional 854 shares in the last quarter. BNP Paribas Arbitrage SNC purchased a new position in Richardson Electronics in the first quarter valued at $52,000. State of Wyoming purchased a new position in Richardson Electronics in the fourth quarter valued at $51,000. Finally, JPMorgan Chase & Co. increased its holdings in Richardson Electronics by 48.9% in the first quarter. JPMorgan Chase & Co. now owns 2,553 shares of the technology company's stock valued at $32,000 after buying an additional 839 shares in the last quarter. Hedge funds and other institutional investors own 71.95% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.