Insider Buying: Richardson Electronics, Ltd. (NASDAQ:RELL) Director Purchases 4,500 Shares of Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director James Benham bought 4,500 shares of the stock in a transaction on Tuesday, October 15th. The shares were acquired at an average cost of $13.29 per share, with a total value of $59,805.00. Following the purchase, the director now owns 13,706 shares of the company’s stock, valued at approximately $182,152.74. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Richardson Electronics Stock Up 0.4 %

NASDAQ RELL traded up $0.05 on Thursday, hitting $13.58. The company’s stock had a trading volume of 14,300 shares, compared to its average volume of 107,620. The company’s 50-day moving average is $12.00 and its 200 day moving average is $11.35. The firm has a market cap of $193.90 million, a PE ratio of 48.32, a PEG ratio of 1.96 and a beta of 0.96. Richardson Electronics, Ltd. has a 1-year low of $8.08 and a 1-year high of $14.30.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings data on Wednesday, October 9th. The technology company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The business had revenue of $53.73 million during the quarter, compared to the consensus estimate of $49.45 million. Richardson Electronics had a negative return on equity of 0.24% and a negative net margin of 0.40%. During the same period in the prior year, the business posted $0.09 earnings per share. On average, equities analysts expect that Richardson Electronics, Ltd. will post 0.44 EPS for the current year.

Richardson Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 8th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Friday, November 8th. Richardson Electronics’s dividend payout ratio is currently 85.71%.

Hedge Funds Weigh In On Richardson Electronics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new stake in shares of Richardson Electronics during the 1st quarter worth approximately $42,000. Perritt Capital Management Inc. bought a new stake in Richardson Electronics in the first quarter valued at $46,000. BNP Paribas Financial Markets raised its holdings in shares of Richardson Electronics by 98.1% during the first quarter. BNP Paribas Financial Markets now owns 6,730 shares of the technology company’s stock valued at $62,000 after purchasing an additional 3,333 shares during the period. Quadrature Capital Ltd bought a new position in shares of Richardson Electronics during the 1st quarter worth about $109,000. Finally, Victory Capital Management Inc. grew its stake in shares of Richardson Electronics by 32.1% in the 2nd quarter. Victory Capital Management Inc. now owns 11,636 shares of the technology company’s stock valued at $138,000 after buying an additional 2,830 shares during the period. Institutional investors and hedge funds own 71.95% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Richardson Electronics from a “sell” rating to a “hold” rating in a report on Friday, July 26th.

About Richardson Electronics

Richardson Electronics, Ltd. engages in the provision of engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and radio frequency (RF), microwave and power components used in semiconductor 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.