Insider Buying: Richardson Electronics, Ltd. (NASDAQ:RELL) Director Acquires 2,500 Shares of Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Kenneth Halverson bought 2,500 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was bought at an average cost of $10.05 per share, with a total value of $25,125.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $50,250. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

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

Richardson Electronics Stock Performance

Shares of Richardson Electronics stock traded up $0.19 during trading on Tuesday, hitting $10.31. 97,946 shares of the stock were exchanged, compared to its average volume of 158,363. The stock’s fifty day moving average is $9.06 and its 200 day moving average is $10.70. The stock has a market cap of $147.23 million, a PE ratio of 36.14, a P/E/G ratio of 7.74 and a beta of 1.01. Richardson Electronics, Ltd. has a 12 month low of $8.08 and a 12 month high of $19.58.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings results on Thursday, April 11th. The technology company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. Richardson Electronics had a net margin of 1.97% and a return on equity of 1.09%. The company had revenue of $52.38 million during the quarter, compared to the consensus estimate of $56.00 million. During the same period in the prior year, the company earned $0.44 EPS. Sell-side analysts anticipate that Richardson Electronics, Ltd. will post 0.09 EPS for the current fiscal year.

Richardson Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be given a dividend of $0.06 per share. 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 payout ratio is currently 85.71%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Richardson Electronics

Several hedge funds have recently modified their holdings of RELL. Tower Research Capital LLC TRC increased its stake in shares of Richardson Electronics by 106.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,240 shares of the technology company’s stock valued at $30,000 after buying an additional 1,157 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Richardson Electronics during the 3rd quarter valued at about $29,000. Morgan Dempsey Capital Management LLC raised its position in Richardson Electronics by 34.9% in the 3rd quarter. Morgan Dempsey Capital Management LLC now owns 9,759 shares of the technology company’s stock valued at $107,000 after buying an additional 2,523 shares during the last quarter. Aigen Investment Management LP acquired a new stake in Richardson Electronics in the 3rd quarter valued at approximately $169,000. Finally, Kovack Advisors Inc. increased its position in shares of Richardson Electronics by 70.8% during the 4th quarter. Kovack Advisors Inc. now owns 27,500 shares of the technology company’s stock worth $367,000 after purchasing an additional 11,400 shares during the last quarter. 71.95% of the stock is owned by institutional investors.

Richardson Electronics Company Profile

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.