James Benham Sells 3,020 Shares of Richardson Electronics (NASDAQ:RELL) Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director James Benham sold 3,020 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $17.99, for a total value of $54,329.80. Following the completion of the sale, the director owned 19,345 shares of the company’s stock, valued at $348,016.55. This trade represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

James Benham also recently made the following trade(s):

• On Wednesday, July 29th, James Benham sold 164 shares of Richardson Electronics stock. The shares were sold at an average price of $19.06, for a total value of $3,125.84.

Richardson Electronics Price Performance

RELL traded down $0.60 during trading hours on Friday, hitting $16.91. 79,381 shares of the stock were exchanged, compared to its average volume of 202,497. The stock has a market cap of $248.41 million, a price-to-earnings ratio of 38.43, a price-to-earnings-growth ratio of 1.43 and a beta of 1.28. The stock has a 50-day simple moving average of $18.35 and a 200-day simple moving average of $15.32. Richardson Electronics, Ltd. has a 12 month low of $9.37 and a 12 month high of $23.15.

Richardson Electronics (NASDAQ:RELL) last released its 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 firm had revenue of $66.20 million during the quarter, compared to analyst estimates of $55.37 million. Sell-side analysts expect that Richardson Electronics, Ltd. will post 0.5 EPS for the current year.

Richardson Electronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Friday, August 7th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, August 7th. This represents a $0.24 annualized dividend and a yield of 1.4%. Richardson Electronics’s dividend payout ratio is 54.55%.

Institutional Trading of Richardson Electronics

Large investors have recently added to or reduced their stakes in the business. Aristides Capital LLC lifted its stake in Richardson Electronics by 4.7% during 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 in the last quarter. Empowered Funds LLC raised its holdings in shares of Richardson Electronics by 7.6% during the first 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 raised its holdings in shares of Richardson Electronics by 9.7% during the fourth quarter. Nuveen LLC now owns 16,970 shares of the technology company’s stock valued at $185,000 after acquiring an additional 1,507 shares during the period. Bridgeway Capital Management LLC lifted its position in shares of Richardson Electronics by 2.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 65,753 shares of the technology company’s stock valued at $715,000 after acquiring an additional 1,587 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Richardson Electronics by 298.8% in the 2nd 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 in the last quarter. 71.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RELL has been the subject of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Richardson Electronics in a research note on Monday, July 20th. Wall Street Zen upgraded Richardson Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Zacks Research raised Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. Finally, Northland Securities upgraded Richardson Electronics from a “market perform” rating to an “outperform” rating and raised their target price for the company from $14.00 to $24.00 in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus 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.