Richardson Electronics (NASDAQ:RELL) CFO Robert Ben Sells 9,000 Shares of Stock

Key Points

• CFO Robert Ben sold 9,000 Richardson Electronics shares at an average price of $21.61, totaling $194,490, reducing his direct stake by 12.94% to 60,534 shares.
• Richardson Electronics recently reported stronger-than-expected quarterly results, with EPS of $0.21 versus a $0.07 estimate and revenue of $66.2 million versus $55.37 million expected.
• Analysts maintain a consensus “Buy” rating with a $24 price target, while the company declared a quarterly dividend of $0.06 per share, equivalent to a 1.2% yield.

Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) CFO Robert Ben sold 9,000 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $21.61, for a total value of $194,490.00. Following the sale, the chief financial officer directly owned 60,534 shares in the company, valued at approximately $1,308,139.74. The trade was a 12.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Richardson Electronics Stock Performance

Richardson Electronics stock traded down $0.24 during midday trading on Thursday, reaching $20.74. 633,696 shares of the company were exchanged, compared to its average volume of 204,430. The firm's 50-day simple moving average is $17.71 and its 200-day simple moving average is $14.66. Richardson Electronics, Ltd. has a 1 year low of $9.37 and a 1 year high of $23.15. The company has a market capitalization of $301.97 million, a price-to-earnings ratio of 47.14, a P/E/G ratio of 1.69 and a beta of 1.28.

Richardson Electronics (NASDAQ:RELL - Get Free Report) last released its earnings results on Wednesday, July 22nd. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.14. Richardson Electronics had a net margin of 2.79% and a return on equity of 3.55%. The company had revenue of $66.20 million for the quarter, compared to analyst estimates of $55.37 million. On average, analysts forecast that Richardson Electronics, Ltd. will post 0.5 EPS for the current fiscal year.

Richardson Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Friday, August 7th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.24 annualized dividend and a dividend yield of 1.2%. Richardson Electronics's dividend payout ratio is presently 54.55%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its holdings in Richardson Electronics by 298.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company's stock valued at $40,000 after purchasing an additional 3,117 shares during the period. Raymond James Financial Inc. purchased a new position in Richardson Electronics during the second quarter worth approximately $57,000. Los Angeles Capital Management LLC purchased a new position in Richardson Electronics during the fourth quarter worth approximately $91,000. Engineers Gate Manager LP acquired a new position in shares of Richardson Electronics in the 2nd quarter valued at $103,000. Finally, Deutsche Bank AG boosted its holdings in shares of Richardson Electronics by 150.3% in the 4th quarter. Deutsche Bank AG now owns 11,421 shares of the technology company's stock valued at $124,000 after purchasing an additional 6,858 shares during the last quarter. 71.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on RELL shares. Zacks Research raised shares of Richardson Electronics from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 24th. Northland Securities upgraded Richardson Electronics from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $14.00 to $24.00 in a report on Tuesday, July 28th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Richardson Electronics in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $24.00.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. NASDAQ: RELL is a global manufacturer, distributor and servicer of engineered components and subsystems for a diverse range of industrial, medical and scientific applications. The company specializes in vacuum electron devices, high-voltage power supplies and related electronic components, offering klystrons, traveling wave tubes, magnetrons, X-ray tubes, microwave amplifiers and power conversion products. Its solutions support customers in power grid management, semiconductor processing, medical imaging, scientific instrumentation and telecommunications.

In addition to its manufacturing capabilities, Richardson Electronics maintains a broad distribution network comprising thousands of standard and custom parts.

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