Richardson Electronics, Ltd. (NASDAQ:RELL) Director Kenneth Halverson Acquires 2,500 Shares

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Kenneth Halverson purchased 2,500 shares of the stock in a transaction dated Monday, April 22nd. The shares were purchased at an average price of $10.05 per share, with a total value of $25,125.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $50,250. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Kenneth Halverson also recently made the following trade(s):

• On Monday, January 29th, Kenneth Halverson purchased 2,500 shares of Richardson Electronics stock. The shares were purchased at an average price of $10.06 per share, with a total value of $25,150.00.

Richardson Electronics Stock Up 1.9 %

Shares of RELL opened at $10.31 on Wednesday. The firm has a 50-day moving average price of $9.08 and a 200 day moving average price of $10.70. The firm has a market capitalization of $147.21 million, a PE ratio of 36.82, a P/E/G ratio of 7.74 and a beta of 1.01. Richardson Electronics, Ltd. has a 52-week low of $8.08 and a 52-week high of $19.58.

Richardson Electronics (NASDAQ:RELL) last announced its earnings results on Thursday, April 11th. The technology company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. The firm had revenue of $52.38 million during the quarter, compared to analyst estimates of $56.00 million. Richardson Electronics had a net margin of 1.97% and a return on equity of 1.09%. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, equities analysts expect that Richardson Electronics, Ltd. will post 0.09 EPS for the current year.

Richardson Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Friday, May 10th will be given a $0.06 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.24 dividend on an annualized basis and a yield of 2.33%. Richardson Electronics’s dividend payout ratio is presently 85.71%.

Institutional Investors Weigh In On Richardson Electronics

A number of institutional investors and hedge funds have recently bought and sold shares of RELL. DDD Partners LLC boosted its position in shares of Richardson Electronics by 46.2% during the 3rd quarter. DDD Partners LLC now owns 690,126 shares of the technology company’s stock valued at $7,246,000 after purchasing an additional 218,244 shares in the last quarter. Penn Mutual Asset Management LLC boosted its position in shares of Richardson Electronics by 7.2% during the 4th quarter. Penn Mutual Asset Management LLC now owns 293,919 shares of the technology company’s stock valued at $3,924,000 after purchasing an additional 19,793 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Richardson Electronics during the 3rd quarter valued at about $1,433,000. Victory Capital Management Inc. boosted its position in shares of Richardson Electronics by 30.9% during the 3rd quarter. Victory Capital Management Inc. now owns 100,723 shares of the technology company’s stock valued at $1,101,000 after purchasing an additional 23,787 shares in the last quarter. Finally, Ancora Advisors LLC boosted its position in shares of Richardson Electronics by 80.0% during the 3rd quarter. Ancora Advisors LLC now owns 95,406 shares of the technology company’s stock valued at $1,043,000 after purchasing an additional 42,417 shares in the last quarter. 71.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Richardson Electronics from a “hold” rating to a “sell” rating in a research report on Thursday, January 11th.

About Richardson Electronics

Richardson Electronics, Ltd. provides engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and RF, Microwave and power components for semiconductors; and manufacturing equipment, RF and wireless and industrial power applications, as well as various applications including broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology.