Insider Selling: Richardson Electronics (NASDAQ:RELL) EVP Sells $205,530.00 in Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) EVP Jens Frank Ruppert sold 17,000 shares of the firm’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $12.09, for a total value of $205,530.00. Following the completion of the sale, the executive vice president owned 39,500 shares in the company, valued at $477,555. The trade was a 30.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Richardson Electronics Stock Performance

Richardson Electronics stock opened at $12.09 on Friday. Richardson Electronics, Ltd. has a one year low of $7.57 and a one year high of $13.60. The company has a 50-day simple moving average of $10.86 and a 200-day simple moving average of $10.42. The firm has a market capitalization of $175.55 million, a P/E ratio of 241.85, a P/E/G ratio of 1.81 and a beta of 1.01.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings data on Wednesday, January 7th. The technology company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). Richardson Electronics had a net margin of 0.38% and a return on equity of 3.30%. The firm had revenue of $52.29 million for the quarter, compared to the consensus estimate of $49.90 million. During the same period last year, the firm posted ($0.05) EPS. As a group, sell-side analysts forecast that Richardson Electronics, Ltd. will post 0.27 earnings per share for the current year.

Richardson Electronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Friday, February 6th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, February 6th. This represents a $0.24 annualized dividend and a dividend yield of 2.0%. Richardson Electronics’s payout ratio is currently 480.00%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on RELL shares. Weiss Ratings downgraded Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, January 9th. Zacks Research cut shares of Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Finally, Northland Securities set a $11.00 price objective on shares of Richardson Electronics in a report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $11.00.

Hedge Funds Weigh In On Richardson Electronics

Hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its holdings in shares of Richardson Electronics by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company’s stock worth $950,000 after purchasing an additional 5,802 shares in the last quarter. Jane Street Group LLC acquired a new position in Richardson Electronics in the first quarter worth approximately $198,000. Acadian Asset Management LLC increased its holdings in shares of Richardson Electronics by 17.0% in the first quarter. Acadian Asset Management LLC now owns 83,273 shares of the technology company’s stock valued at $928,000 after buying an additional 12,097 shares in the last quarter. Founders Capital Management lifted its position in shares of Richardson Electronics by 22.6% during the 2nd quarter. Founders Capital Management now owns 6,500 shares of the technology company’s stock valued at $63,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Wedbush Securities Inc. boosted its stake in shares of Richardson Electronics by 15.3% during the 2nd quarter. Wedbush Securities Inc. now owns 14,814 shares of the technology company’s stock worth $143,000 after acquiring an additional 1,970 shares in the last quarter. Institutional investors and hedge funds own 71.95% of the company’s stock.

Richardson Electronics Company Profile

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.