Richardson Electronics (NASDAQ:RELL) Stock Crosses Above 200-Day Moving Average – Here’s Why

Shares of Richardson Electronics, Ltd. (NASDAQ:RELL) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.07 and traded as high as $19.16. Richardson Electronics shares last traded at $18.31, with a volume of 172,041 shares.

Wall Street Analysts Forecast Growth

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

Richardson Electronics Price Performance

The stock has a market cap of $266.59 million, a P/E ratio of 67.82, a price-to-earnings-growth ratio of 1.91 and a beta of 1.28. The stock’s 50-day moving average is $15.94 and its two-hundred day moving average is $13.07.

Richardson Electronics (NASDAQ:RELL) last posted its earnings results on Wednesday, April 8th. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The company had revenue of $55.47 million for the quarter, compared to the consensus estimate of $53.12 million. Richardson Electronics had a return on equity of 2.83% and a net margin of 1.75%. On average, analysts anticipate that Richardson Electronics, Ltd. will post 0.25 EPS for the current fiscal year.

Richardson Electronics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Friday, May 8th were paid a dividend of $0.06 per share. 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 1.3%. Richardson Electronics’s dividend payout ratio is presently 88.89%.

Insider Buying and Selling at Richardson Electronics

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aristides Capital LLC grew its holdings in Richardson Electronics by 4.7% in the fourth quarter. Aristides Capital LLC now owns 20,940 shares of the technology company’s stock valued at $228,000 after purchasing an additional 940 shares during the period. Empowered Funds LLC raised its stake in shares of Richardson Electronics by 7.6% during the 1st quarter. Empowered Funds LLC now owns 20,596 shares of the technology company’s stock worth $226,000 after buying an additional 1,454 shares during the period. Nuveen LLC lifted its position in shares of Richardson Electronics by 9.7% during the 4th quarter. Nuveen LLC now owns 16,970 shares of the technology company’s stock valued at $185,000 after buying an additional 1,507 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Richardson Electronics by 2.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 65,753 shares of the technology company’s stock valued at $715,000 after buying an additional 1,587 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Richardson Electronics by 298.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company’s stock valued at $40,000 after acquiring an additional 3,117 shares during the period. 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.