Insider Selling: Richardson Electronics (NASDAQ:RELL) Director Sells 1,000 Shares of Company Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Kenneth Halverson sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $21.19, for a total value of $21,190.00. Following the transaction, the director owned 9,865 shares in the company, valued at $209,039.35. The trade was a 9.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Thursday, August 20th, Kenneth Halverson sold 1,500 shares of Richardson Electronics stock. The shares were sold at an average price of $17.47, for a total value of $26,205.00.

Richardson Electronics Stock Up 3.5%

Shares of Richardson Electronics stock traded up $0.70 during trading on Monday, reaching $20.44. The company’s stock had a trading volume of 111,491 shares, compared to its average volume of 211,210. Richardson Electronics, Ltd. has a 12-month low of $9.37 and a 12-month high of $23.15. The company has a market capitalization of $304.13 million, a P/E ratio of 35.15, a price-to-earnings-growth ratio of 1.01 and a beta of 1.28. The business has a 50 day moving average price of $18.16 and a 200-day moving average price of $15.75.

Richardson Electronics (NASDAQ:RELL) last issued its earnings results on Wednesday, October 7th. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.09 by $0.18. Richardson Electronics had a net margin of 3.57% and a return on equity of 4.82%. The company had revenue of $64.92 million for the quarter, compared to analyst estimates of $58.98 million. Research analysts predict that Richardson Electronics, Ltd. will post 0.78 EPS for the current fiscal year.

Richardson Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Friday, November 6th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, November 6th. This represents a $0.24 dividend on an annualized basis and a yield of 1.2%. Richardson Electronics’s payout ratio is currently 41.38%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RELL shares. Weiss Ratings upgraded Richardson Electronics from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Wall Street Zen raised Richardson Electronics from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Zacks Research upgraded Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 27th. Finally, Northland Securities set a $26.00 target price on Richardson Electronics in a report on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $26.00.

Institutional Investors Weigh In On Richardson Electronics

Large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Richardson Electronics in the second quarter worth $18,874,000. AIGH Capital Management LLC purchased a new stake in Richardson Electronics during the 2nd quarter worth about $3,810,000. Bank of New York Mellon Corp purchased a new stake in Richardson Electronics during the 2nd quarter worth about $1,995,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Richardson Electronics in the 1st quarter valued at about $1,095,000. Finally, First Wilshire Securities Management Inc. raised its stake in Richardson Electronics by 13.9% in the 1st 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. Institutional investors and hedge funds own 71.95% of the company’s stock.

About Richardson Electronics

Richardson Electronics Ltd. (NASDAQ: RELL) is a global provider of engineered solutions, electronic components and replacement parts for specialized industrial and healthcare applications. The company serves original equipment manufacturers, government agencies, medical facilities, distributors and other commercial customers through its product portfolio and technical support services.

Its Power and Microwave Technologies business supplies components and systems used in power conversion, renewable energy, semiconductor manufacturing, aerospace and defense, telecommunications, and other industrial markets.