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

Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) declared a quarterly dividend on Tuesday, July 22nd, Wall Street Journal reports. Stockholders of record on Friday, August 8th will be given a dividend of 0.06 per share by the technology company on Wednesday, August 27th. This represents a $0.24 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Friday, August 8th.

Richardson Electronics has a dividend payout ratio of 43.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Richardson Electronics to earn $0.84 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 28.6%.

Richardson Electronics Trading Up 4.6%

Shares of NASDAQ:RELL traded up $0.48 during midday trading on Monday, hitting $11.00. 42,656 shares of the stock were exchanged, compared to its average volume of 34,462. The stock has a market cap of $158.51 million, a P/E ratio of -137.48, a PEG ratio of 3.01 and a beta of 1.00. Richardson Electronics has a twelve month low of $7.57 and a twelve month high of $15.51. The company has a 50 day moving average price of $9.48 and a 200-day moving average price of $10.72.

Richardson Electronics (NASDAQ:RELL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.07. The firm had revenue of $51.89 million during the quarter, compared to analysts' expectations of $53.86 million. Richardson Electronics had a positive return on equity of 2.07% and a negative net margin of 0.55%. On average, equities research analysts expect that Richardson Electronics will post 0.27 earnings per share for the current year.

Institutional Investors Weigh In On Richardson Electronics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC bought a new position in shares of Richardson Electronics in the 1st quarter valued at approximately $198,000. Acadian Asset Management LLC grew its holdings in shares of Richardson Electronics by 17.0% during the 1st quarter. Acadian Asset Management LLC now owns 83,273 shares of the technology company's stock worth $928,000 after purchasing an additional 12,097 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Richardson Electronics by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company's stock valued at $950,000 after buying an additional 5,802 shares in the last quarter. 71.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Richardson Electronics from a "buy" rating to a "hold" rating in a research report on Saturday, April 19th.

Richardson Electronics Company Profile

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.