Richardson Electronics (NASDAQ:RELL) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Richardson Electronics, Ltd. (NASDAQ:RELL)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $12.54 and traded as high as $16.89. Richardson Electronics shares last traded at $16.63, with a volume of 182,704 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RELL. Weiss Ratings raised Richardson Electronics from a “sell (d+)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. Northland Securities set a $14.00 price objective on Richardson Electronics in a research note on Friday, April 10th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.00.

Richardson Electronics Stock Up 2.7%

The business has a 50 day simple moving average of $14.72 and a two-hundred day simple moving average of $12.54. The firm has a market cap of $242.13 million, a PE ratio of 61.59, a price-to-earnings-growth ratio of 1.66 and a beta of 1.28.

Richardson Electronics (NASDAQ:RELL) last released 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. Richardson Electronics had a return on equity of 2.83% and a net margin of 1.75%.The business had revenue of $55.47 million for the quarter, compared to analyst estimates of $53.13 million. Equities analysts forecast that Richardson Electronics, Ltd. will post 0.25 earnings per share for the current year.

Richardson Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Friday, May 8th were paid a $0.06 dividend. The ex-dividend date 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 (DPR) is presently 88.89%.

Insiders Place Their Bets

In other Richardson Electronics news, Director Kenneth Halverson sold 10,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $14.69, for a total value of $146,900.00. Following the sale, the director owned 14,345 shares in the company, valued at $210,728.05. This trade represents a 41.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kathleen Mcnally sold 6,636 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $16.85, for a total value of $111,816.60. Following the completion of the sale, the executive vice president owned 45,719 shares in the company, valued at approximately $770,365.15. The trade was a 12.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 33.40% of the company’s stock.

Institutional Investors Weigh In On Richardson Electronics

Several hedge funds have recently made changes to their positions in RELL. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Richardson Electronics in the 1st quarter worth $1,095,000. First Wilshire Securities Management Inc. lifted its holdings in shares of 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 buying an additional 82,054 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Richardson Electronics in the 1st quarter worth $697,000. Marshall Wace LLP purchased a new stake in shares of Richardson Electronics in the 4th quarter worth $626,000. Finally, Walleye Capital LLC purchased a new stake in shares of Richardson Electronics in the 4th quarter worth $497,000. 71.95% of the stock is currently owned by hedge funds and other institutional investors.

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.