Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) passed above its two hundred day moving average during trading on Monday following insider buying activity. The stock has a two hundred day moving average of $9.59 and traded as high as $11.49. Richardson Electronics shares last traded at $11.30, with a volume of 114,479 shares trading hands.
Analyst Upgrades and Downgrades
RELL has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Richardson Electronics in a research report on Wednesday, October 8th. Zacks Research raised Richardson Electronics from a "hold" rating to a "strong-buy" rating in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Richardson Electronics presently has an average rating of "Hold".
View Our Latest Research Report on RELL
Richardson Electronics Stock Up 3.2%
The company has a market cap of $163.74 million, a price-to-earnings ratio of 1,131.13, a P/E/G ratio of 1.68 and a beta of 0.97. The stock has a fifty day moving average price of $10.10 and a two-hundred day moving average price of $9.59.
Richardson Electronics (NASDAQ:RELL - Get Free Report) last issued its earnings results on Wednesday, October 8th. The technology company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.02 by $0.11. The company had revenue of $54.61 million during the quarter, compared to analysts' expectations of $51.51 million. Richardson Electronics had a net margin of 0.08% and a return on equity of 2.91%. During the same period in the previous year, the company earned $0.04 EPS. Analysts predict that Richardson Electronics, Ltd. will post 0.27 earnings per share for the current fiscal year.
Richardson Electronics Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 7th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, November 7th. Richardson Electronics's payout ratio is currently 2,400.00%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of RELL. Tower Research Capital LLC TRC grew its position 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 acquiring an additional 3,117 shares during the last quarter. Raymond James Financial Inc. bought a new position in Richardson Electronics in the second quarter valued at about $57,000. Founders Capital Management grew its position in Richardson Electronics by 22.6% in the second quarter. Founders Capital Management now owns 6,500 shares of the technology company's stock valued at $63,000 after acquiring an additional 1,200 shares during the last quarter. Engineers Gate Manager LP bought a new position in Richardson Electronics in the second quarter valued at about $103,000. Finally, Wedbush Securities Inc. grew its position in Richardson Electronics by 15.3% in the second quarter. Wedbush Securities Inc. now owns 14,814 shares of the technology company's stock valued at $143,000 after acquiring an additional 1,970 shares during the last quarter. Institutional investors own 71.95% of the company's stock.
About Richardson Electronics
(
Get Free Report)
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.
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