Kathleen Mcnally Sells 8,417 Shares of Richardson Electronics (NASDAQ:RELL) Stock

Key Points

• Kathleen Mcnally, EVP of Richardson Electronics, sold 8,417 shares at an average price of $10.01, reflecting a 15.55% decrease in her holdings, now totaling 45,719 shares valued at approximately $457,647.19.
• Richardson Electronics reported a quarterly earnings of $0.12 per share, surpassing analysts' expectations, but missed revenue estimates with $51.89 million against an expected $53.86 million.
• The company announced a quarterly dividend of $0.06 per share, with a 2.4% yield, which will be paid on August 27th, targeting investors of record from August 8th.

Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) EVP Kathleen Mcnally sold 8,417 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $10.01, for a total value of $84,254.17. Following the sale, the executive vice president owned 45,719 shares of the company's stock, valued at $457,647.19. This represents a 15.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Richardson Electronics Stock Performance

Shares of NASDAQ:RELL traded down $0.10 during trading on Tuesday, reaching $9.58. 28,720 shares of the stock were exchanged, compared to its average volume of 34,976. The firm's 50-day moving average price is $9.74 and its 200 day moving average price is $10.35. The firm has a market cap of $138.81 million, a price-to-earnings ratio of -119.74, a price-to-earnings-growth ratio of 2.35 and a beta of 1.00. Richardson Electronics, Ltd. has a 12-month low of $7.57 and a 12-month high of $15.51.

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

Richardson Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Friday, August 8th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, August 8th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.5%. Richardson Electronics's dividend payout ratio (DPR) is currently -300.00%.

Hedge Funds Weigh In On Richardson Electronics

Institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LP boosted its stake in shares of Richardson Electronics by 7.7% during the 1st quarter. Royce & Associates LP now owns 1,344,175 shares of the technology company's stock valued at $15,001,000 after buying an additional 95,899 shares during the last quarter. First Wilshire Securities Management Inc. boosted its position in Richardson Electronics by 12.0% during the 2nd 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 during the period. Geode Capital Management LLC raised its holdings in shares of Richardson Electronics by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 293,446 shares of the technology company's stock valued at $4,118,000 after buying an additional 2,841 shares during the last quarter. Northern Trust Corp grew its stake in shares of Richardson Electronics by 1.7% in the fourth quarter. Northern Trust Corp now owns 98,765 shares of the technology company's stock worth $1,386,000 after purchasing an additional 1,623 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Richardson Electronics by 7.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company's stock worth $950,000 after buying an additional 5,802 shares in the last quarter. Institutional investors and hedge funds own 71.95% of the company's stock.

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.