Richardson Electronics (NASDAQ:RELL) Director Sells $146,900.00 in Stock

Key Points

• Kenneth Halverson sold 10,000 shares on May 5 at an average price of $14.69 for $146,900, reducing his ownership by 41.08% to 14,345 shares (SEC filing disclosed).
• Richardson Electronics reported quarterly EPS of $0.07 versus $0.05 expected and revenue of $55.47M, and announced a quarterly dividend of $0.06 per share (ex-dividend May 8; annualized $0.24).
• RELL traded down about 1.2% to $14.94, with a market cap around $217.5M, a P/E of 55.34, a 52-week range of $8.66–$15.34, and an average analyst rating of Hold with a $14 target.

Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) Director Kenneth Halverson sold 10,000 shares of the company's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $14.69, for a total value of $146,900.00. Following the transaction, the director directly owned 14,345 shares of the company's stock, valued at approximately $210,728.05. This represents a 41.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Kenneth Halverson also recently made the following trade(s):

• On Thursday, February 12th, Kenneth Halverson sold 10,000 shares of Richardson Electronics stock. The stock was sold at an average price of $13.09, for a total value of $130,900.00.

Richardson Electronics Trading Down 1.2%

RELL stock traded down $0.18 during trading on Thursday, hitting $14.94. 17,449 shares of the company's stock were exchanged, compared to its average volume of 132,615. The business has a 50-day moving average price of $12.43 and a two-hundred day moving average price of $11.57. The stock has a market capitalization of $217.48 million, a price-to-earnings ratio of 55.34, a PEG ratio of 2.30 and a beta of 1.24. Richardson Electronics, Ltd. has a 52-week low of $8.66 and a 52-week high of $15.34.

Richardson Electronics (NASDAQ:RELL - Get Free Report) last released its quarterly earnings data on Wednesday, April 8th. The technology company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.02. Richardson Electronics had a net margin of 1.75% and a return on equity of 2.83%. The company had revenue of $55.47 million for the quarter, compared to analysts' expectations of $53.13 million. On average, equities research analysts anticipate that Richardson Electronics, Ltd. will post 0.25 earnings per share for the current fiscal year.

Richardson Electronics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Friday, May 8th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, May 8th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.6%. Richardson Electronics's payout ratio is 88.89%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Northland Securities set a $14.00 price target on Richardson Electronics in a research note on Friday, April 10th. Weiss Ratings upgraded Richardson Electronics from a "sell (d+)" rating to a "hold (c)" rating in a research note on Wednesday, April 22nd. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $14.00.

Institutional Trading of Richardson Electronics

Hedge funds have recently added to or reduced their stakes in the stock. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Richardson Electronics in the first quarter valued at approximately $1,095,000. Bank of New York Mellon Corp grew its position in Richardson Electronics by 6.3% in the 1st quarter. Bank of New York Mellon Corp now owns 92,426 shares of the technology company's stock valued at $1,012,000 after buying an additional 5,506 shares during the last quarter. Granite Investment Partners LLC purchased a new position in Richardson Electronics during the 1st quarter worth $143,000. Ritholtz Wealth Management lifted its stake in shares of Richardson Electronics by 19.1% in the 1st quarter. Ritholtz Wealth Management now owns 22,958 shares of the technology company's stock worth $251,000 after acquiring an additional 3,680 shares during the period. Finally, Aristides Capital LLC boosted its holdings 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 acquiring an additional 940 shares in the last quarter. 71.95% of the stock is owned by institutional investors and hedge funds.

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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