Richardson Electronics (NASDAQ:RELL) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of Richardson Electronics, Ltd. (NASDAQ:RELL) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.56 and traded as high as $14.10. Richardson Electronics shares last traded at $14.01, with a volume of 50,145 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Richardson Electronics from a “sell” rating to a “hold” rating in a research note on Friday, July 26th.

Richardson Electronics Trading Up 1.4 %

The firm has a market capitalization of $201.46 million, a PE ratio of -280.20, a P/E/G ratio of 2.81 and a beta of 0.96. The firm has a 50 day simple moving average of $12.31 and a 200 day simple moving average of $11.57.

Richardson Electronics (NASDAQ:RELL) last released its quarterly earnings data on Wednesday, October 9th. The technology company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.05. Richardson Electronics had a negative return on equity of 0.24% and a negative net margin of 0.40%. The company had revenue of $53.73 million for the quarter, compared to analysts’ expectations of $49.45 million. During the same period last year, the firm posted $0.09 earnings per share. Research analysts forecast that Richardson Electronics, Ltd. will post 0.33 earnings per share for the current year.

Richardson Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, November 8th. This represents a $0.24 annualized dividend and a dividend yield of 1.71%. Richardson Electronics’s payout ratio is -480.00%.

Insider Buying and Selling

In related news, Director James Benham bought 4,500 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was acquired at an average cost of $13.29 per share, for a total transaction of $59,805.00. Following the purchase, the director now owns 13,706 shares in the company, valued at approximately $182,152.74. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 32.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Richardson Electronics

Institutional investors have recently made changes to their positions in the business. Azarias Capital Management L.P. bought a new stake in shares of Richardson Electronics during the 2nd quarter valued at $3,565,000. GSA Capital Partners LLP bought a new stake in Richardson Electronics during the first quarter valued at about $881,000. Parthenon LLC grew its holdings in Richardson Electronics by 56.6% during the first quarter. Parthenon LLC now owns 126,069 shares of the technology company’s stock valued at $1,161,000 after purchasing an additional 45,580 shares during the period. Covestor Ltd increased its position in Richardson Electronics by 31,565.5% in the first quarter. Covestor Ltd now owns 44,965 shares of the technology company’s stock worth $415,000 after buying an additional 44,823 shares in the last quarter. Finally, Ancora Advisors LLC raised its stake in shares of Richardson Electronics by 30.7% in the first quarter. Ancora Advisors LLC now owns 156,632 shares of the technology company’s stock worth $1,443,000 after buying an additional 36,820 shares during the period. Institutional investors own 71.95% of the company’s stock.

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.