Richardson Electronics (NASDAQ:RELL) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Richardson Electronics, Ltd. (NASDAQ:RELL) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.25 and traded as high as $17.40. Richardson Electronics shares last traded at $16.98, with a volume of 260,604 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently commented on RELL shares. Northland Securities set a $14.00 price objective on shares of Richardson Electronics in a research report on Friday, April 10th. Weiss Ratings upgraded shares of Richardson Electronics from a “sell (d+)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, Richardson Electronics has a consensus rating of “Hold” and a consensus target price of $14.00.

Richardson Electronics Trading Down 0.3%

The stock has a market capitalization of $247.23 million, a price-to-earnings ratio of 62.89, a price-to-earnings-growth ratio of 2.67 and a beta of 1.24. The stock’s 50 day moving average is $14.05 and its two-hundred day moving average is $12.25.

Richardson Electronics (NASDAQ:RELL) last announced its earnings results on Wednesday, April 8th. The technology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $55.47 million during the quarter, compared to analyst estimates of $53.13 million. Richardson Electronics had a net margin of 1.75% and a return on equity of 2.83%. On average, research analysts anticipate that Richardson Electronics, Ltd. will post 0.25 earnings per share for the current year.

Richardson Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Friday, May 8th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.24 dividend on an annualized basis and a yield of 1.4%. Richardson Electronics’s dividend payout ratio is presently 88.89%.

Insiders Place Their Bets

In related news, EVP Kathleen Mcnally sold 6,636 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $16.85, for a total value of $111,816.60. Following the completion of the transaction, the executive vice president directly owned 45,719 shares of the company’s stock, valued at approximately $770,365.15. This represents a 12.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth Halverson sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $14.69, for a total transaction of $146,900.00. Following the completion of the transaction, the director directly owned 14,345 shares of the company’s stock, valued at approximately $210,728.05. The trade was a 41.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 33.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Richardson Electronics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RELL. Tower Research Capital LLC TRC boosted its stake 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 during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Richardson Electronics during the 2nd quarter worth about $57,000. Los Angeles Capital Management LLC acquired a new position in shares of Richardson Electronics during the 4th quarter worth about $91,000. Engineers Gate Manager LP acquired a new position in shares of Richardson Electronics during the 2nd quarter worth about $103,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Richardson Electronics during the 3rd quarter worth about $104,000. 71.95% of the stock is owned by institutional investors and hedge funds.

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.