Richardson Electronics (NASDAQ:RELL) COO Wendy Diddell Sells 23,901 Shares of Stock

Key Points

• COO Wendy Diddell sold 23,901 Richardson Electronics shares for approximately $478,020 at an average price of $20.00, reducing her direct ownership by 17.31% to 114,150 shares.
• Richardson Electronics reported quarterly earnings of $0.21 per share, beating estimates by $0.14, while revenue of $66.2 million exceeded expectations of $55.37 million.
• Analysts maintain a consensus “Buy” rating with a $24 price target; the company also declared a quarterly dividend of $0.06 per share, equivalent to a 1.1% annual yield.

Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) COO Wendy Diddell sold 23,901 shares of the business's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $20.00, for a total value of $478,020.00. Following the completion of the transaction, the chief operating officer directly owned 114,150 shares of the company's stock, valued at approximately $2,283,000. The trade was a 17.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Richardson Electronics Stock Performance

NASDAQ RELL traded down $0.04 during trading hours on Thursday, reaching $20.95. 33,166 shares of the company's stock were exchanged, compared to its average volume of 200,554. Richardson Electronics, Ltd. has a one year low of $9.37 and a one year high of $23.15. The company's 50-day moving average is $17.71 and its two-hundred day moving average is $14.66. The company has a market capitalization of $304.96 million, a price-to-earnings ratio of 47.74, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28.

Richardson Electronics (NASDAQ:RELL - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.21 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $55.37 million. Research analysts predict that Richardson Electronics, Ltd. will post 0.5 earnings per share for the current fiscal year.

Richardson Electronics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Friday, August 7th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.24 dividend on an annualized basis and a yield of 1.1%. Richardson Electronics's dividend payout ratio is presently 54.55%.

Institutional Investors Weigh In On Richardson Electronics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Aristides Capital LLC lifted its position in shares of Richardson Electronics by 4.7% in the fourth quarter. Aristides Capital LLC now owns 20,940 shares of the technology company's stock valued at $228,000 after buying an additional 940 shares during the last quarter. Empowered Funds LLC raised its stake in Richardson Electronics by 7.6% in the 1st quarter. Empowered Funds LLC now owns 20,596 shares of the technology company's stock valued at $226,000 after acquiring an additional 1,454 shares during the period. Nuveen LLC lifted its holdings in Richardson Electronics by 9.7% during the 4th quarter. Nuveen LLC now owns 16,970 shares of the technology company's stock valued at $185,000 after purchasing an additional 1,507 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in Richardson Electronics by 2.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 65,753 shares of the technology company's stock valued at $715,000 after purchasing an additional 1,587 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Richardson Electronics by 298.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company's stock worth $40,000 after purchasing an additional 3,117 shares during the period. 71.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Zacks Research raised 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 increased their price objective for the stock from $14.00 to $24.00 in a report on Tuesday, July 28th. Finally, Weiss Ratings reissued 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 assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price 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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