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

Richardson Electronics, Ltd. (NASDAQ:RELL) COO Wendy Diddell sold 23,901 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer owned 114,150 shares of the company’s stock, valued at $2,283,000. The trade was a 17.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Richardson Electronics Stock Down 1.1%

Shares of NASDAQ:RELL opened at $20.74 on Friday. The business’s 50 day moving average is $17.78 and its 200 day moving average is $14.73. The stock has a market cap of $301.91 million, a P/E ratio of 47.14, a price-to-earnings-growth ratio of 1.66 and a beta of 1.28. Richardson Electronics, Ltd. has a 52-week low of $9.37 and a 52-week high of $23.15.

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

Richardson Electronics Dividend Announcement

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 issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, August 7th. Richardson Electronics’s payout ratio is presently 54.55%.

Institutional Investors Weigh In On Richardson Electronics

Hedge funds have recently made changes to their positions in the stock. First Wilshire Securities Management Inc. grew its stake in Richardson Electronics by 13.9% in the first quarter. First Wilshire Securities Management Inc. now owns 671,998 shares of the technology company’s stock valued at $7,358,000 after purchasing an additional 82,054 shares during the last quarter. State Street Corp boosted its holdings in shares of Richardson Electronics by 1.9% in the 4th quarter. State Street Corp now owns 243,427 shares of the technology company’s stock valued at $2,648,000 after buying an additional 4,629 shares in the last quarter. AIGH Capital Management LLC purchased a new position in shares of Richardson Electronics in the 2nd quarter worth approximately $3,810,000. Bank of New York Mellon Corp bought a new position in shares of Richardson Electronics during the 2nd quarter worth approximately $1,995,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Richardson Electronics during the 1st quarter worth approximately $1,095,000. 71.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RELL. Zacks Research upgraded shares of Richardson Electronics from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Northland Securities raised shares of Richardson Electronics from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $14.00 to $24.00 in a research report on Tuesday, July 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Richardson Electronics in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $24.00.

About Richardson Electronics

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.