Richardson Electronics (NASDAQ:RELL) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Richardson Electronics, Ltd. (NASDAQ:RELL) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.58 and traded as high as $13.98. Richardson Electronics shares last traded at $13.80, with a volume of 154,146 shares changing hands.

Analyst Ratings Changes

Several brokerages recently commented on RELL. Weiss Ratings lowered Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, January 9th. Zacks Research downgraded shares of Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, Northland Securities set a $11.00 target price on shares of Richardson Electronics in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $11.00.

Richardson Electronics Stock Up 4.9%

The company has a market capitalization of $200.35 million, a P/E ratio of 276.06, a P/E/G ratio of 2.06 and a beta of 1.09. The firm’s 50-day moving average price is $11.26 and its 200 day moving average price is $10.58.

Richardson Electronics (NASDAQ:RELL) last released its quarterly earnings results on Wednesday, January 7th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). The business had revenue of $52.29 million during the quarter, compared to the consensus estimate of $49.90 million. Richardson Electronics had a return on equity of 3.30% and a net margin of 0.38%.During the same quarter in the previous year, the business earned ($0.05) EPS. As a group, equities research analysts expect that Richardson Electronics, Ltd. will post 0.27 EPS for the current year.

Richardson Electronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Friday, February 6th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, February 6th. Richardson Electronics’s dividend payout ratio is presently 480.00%.

Insider Buying and Selling at Richardson Electronics

In other Richardson Electronics news, CFO Robert J. Ben sold 5,000 shares of Richardson Electronics stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $11.90, for a total transaction of $59,500.00. Following the transaction, the chief financial officer directly owned 57,034 shares of the company’s stock, valued at $678,704.60. The trade was a 8.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jens Frank Ruppert sold 17,000 shares of the company’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $12.09, for a total transaction of $205,530.00. Following the completion of the sale, the executive vice president owned 39,500 shares of the company’s stock, valued at approximately $477,555. The trade was a 30.09% decrease in their position. The SEC filing for this sale provides additional information. 33.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Richardson Electronics

Several institutional investors and hedge funds have recently added to or reduced their stakes in RELL. Tower Research Capital LLC TRC lifted its position in shares of Richardson Electronics by 298.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company’s stock worth $40,000 after buying an additional 3,117 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Richardson Electronics in the second quarter valued at approximately $57,000. Los Angeles Capital Management LLC purchased a new stake in shares of Richardson Electronics during the fourth quarter valued at approximately $91,000. GSA Capital Partners LLP purchased a new position in Richardson Electronics in the third quarter worth $104,000. Finally, Engineers Gate Manager LP bought a new position in Richardson Electronics in the 2nd quarter valued at $103,000. Hedge funds and other institutional investors 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.