Richardson Electronics (NASDAQ:RELL) Share Price Passes Above 200 Day Moving Average – Here’s Why

by · The Cerbat Gem

Shares of Richardson Electronics, Ltd. (NASDAQ:RELL – Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $10.09 and traded as high as $10.97. Richardson Electronics shares last traded at $10.81, with a volume of 33,987 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have commented on RELL. Zacks Research lowered shares of Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Weiss Ratings upgraded shares of Richardson Electronics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Saturday, October 25th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Get Our Latest Report on Richardson Electronics

Richardson Electronics Stock Down 0.2%

The company has a market capitalization of $156.38 million, a PE ratio of 1,080.08, a price-to-earnings-growth ratio of 1.66 and a beta of 1.01. The firm’s 50 day simple moving average is $10.71 and its 200 day simple moving average is $10.11.

Richardson Electronics (NASDAQ:RELL – Get Free Report) last announced its earnings results on Wednesday, October 8th. The technology company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.11. Richardson Electronics had a net margin of 0.08% and a return on equity of 2.91%. The business had revenue of $54.61 million for the quarter, compared to the consensus estimate of $51.51 million. During the same quarter in the prior year, the firm posted $0.04 earnings per share. As a group, sell-side analysts predict that Richardson Electronics, Ltd. will post 0.27 EPS for the current fiscal year.

Richardson Electronics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Friday, November 7th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, November 7th. Richardson Electronics’s payout ratio is 2,400.00%.

Insider Buying and Selling

In related news, Director Kenneth Halverson sold 4,200 shares of the business’s stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $11.33, for a total transaction of $47,586.00. Following the completion of the transaction, the director owned 14,345 shares in the company, valued at $162,528.85. The trade was a 22.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert J. Ben sold 9,500 shares of the company’s stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $11.45, for a total value of $108,775.00. Following the completion of the transaction, the chief financial officer directly owned 62,034 shares in the company, valued at $710,289.30. This trade represents a 13.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 33.40% of the company’s stock.

Institutional Trading of Richardson Electronics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its holdings in shares of 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 worth $40,000 after purchasing an additional 3,117 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Richardson Electronics in the 2nd quarter valued at about $57,000. Founders Capital Management grew its stake in Richardson Electronics by 22.6% in the 2nd quarter. Founders Capital Management now owns 6,500 shares of the technology company’s stock worth $63,000 after acquiring an additional 1,200 shares in the last quarter. Engineers Gate Manager LP bought a new position in Richardson Electronics in the 2nd quarter worth about $103,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Richardson Electronics during the third quarter worth approximately $104,000. 71.95% of the stock is currently owned by institutional investors.

Richardson Electronics Company Profile

(Get Free Report)

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.

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