Robert Kluge Sells 29,000 Shares of Richardson Electronics (NASDAQ:RELL) Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Robert Kluge sold 29,000 shares of Richardson Electronics stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $17.90, for a total transaction of $519,100.00. Following the completion of the sale, the director directly owned 51,365 shares in the company, valued at $919,433.50. This trade represents a 36.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Richardson Electronics Trading Up 8.8%

Shares of NASDAQ RELL opened at $21.38 on Wednesday. The stock has a fifty day simple moving average of $17.64 and a two-hundred day simple moving average of $14.59. Richardson Electronics, Ltd. has a 1-year low of $9.37 and a 1-year high of $23.15. The firm has a market cap of $311.29 million, a price-to-earnings ratio of 48.59, a price-to-earnings-growth ratio of 1.56 and a beta of 1.28.

Richardson Electronics (NASDAQ:RELL) last issued its earnings results on Wednesday, July 22nd. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.14. Richardson Electronics had a return on equity of 3.57% and a net margin of 2.79%.The firm had revenue of $66.20 million for the quarter, compared to analyst estimates of $55.37 million. Analysts forecast that Richardson Electronics, Ltd. will post 0.5 EPS for the current year.

Richardson Electronics Announces Dividend

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. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.24 annualized dividend and a yield of 1.1%. Richardson Electronics’s dividend payout ratio (DPR) is 54.55%.

Hedge Funds Weigh In On Richardson Electronics

A number of large investors have recently made changes to their positions in RELL. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Richardson Electronics during the 1st quarter valued at $1,095,000. First Wilshire Securities Management Inc. boosted 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 worth $7,358,000 after purchasing an additional 82,054 shares during the period. Nano Cap New Millennium Growth Fund L P bought a new position in Richardson Electronics in the 4th quarter worth about $462,000. Ritholtz Wealth Management grew its holdings in Richardson Electronics by 30.9% during the 4th quarter. Ritholtz Wealth Management now owns 19,278 shares of the technology company’s stock valued at $210,000 after buying an additional 4,554 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in Richardson Electronics by 7.6% during the 1st quarter. Empowered Funds LLC now owns 20,596 shares of the technology company’s stock valued at $226,000 after buying an additional 1,454 shares in the last quarter. 71.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RELL has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Richardson Electronics in a report on Monday, July 20th. Northland Securities upgraded shares of Richardson Electronics from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $14.00 to $24.00 in a research note on Tuesday, July 28th. Finally, Zacks Research raised shares of Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus 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.