Richardson Electronics (NASDAQ:RELL) Share Price Crosses Above 200 Day Moving Average - Here's Why

Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report)'s share price passed 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 changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Richardson Electronics from a "sell" rating to a "hold" rating in a research report on Friday, July 26th.

Richardson Electronics Stock Performance

The firm has a market cap of $201.46 million, a PE ratio of -280.20, a PEG ratio of 2.81 and a beta of 0.96. The company's 50-day simple moving average is $12.31 and its two-hundred day simple moving average is $11.57.

Richardson Electronics (NASDAQ:RELL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 9th. The technology company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.05. Richardson Electronics had a negative net margin of 0.40% and a negative return on equity of 0.24%. The business had revenue of $53.73 million during the quarter, compared to analyst estimates of $49.45 million. During the same period in the prior year, the business earned $0.09 EPS. On average, analysts expect that Richardson Electronics, Ltd. will post 0.33 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. Shareholders of record on Friday, November 8th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.24 annualized dividend and a yield of 1.71%. Richardson Electronics's dividend payout ratio (DPR) is presently -480.00%.

Insiders Place Their Bets

In related news, Director James Benham acquired 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 acquisition, the director now owns 13,706 shares of the company's stock, valued at $182,152.74. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 32.84% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP bought a new position in shares of Richardson Electronics in the 1st quarter worth about $881,000. American Century Companies Inc. increased its stake in shares of Richardson Electronics by 14.7% in the 2nd quarter. American Century Companies Inc. now owns 18,372 shares of the technology company's stock worth $218,000 after acquiring an additional 2,359 shares in the last quarter. Azarias Capital Management L.P. bought a new position in shares of Richardson Electronics in the 2nd quarter worth about $3,565,000. Vanguard Group Inc. increased its stake in shares of Richardson Electronics by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 589,790 shares of the technology company's stock worth $5,432,000 after acquiring an additional 23,266 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Richardson Electronics by 98.1% in the 1st quarter. BNP Paribas Financial Markets now owns 6,730 shares of the technology company's stock worth $62,000 after acquiring an additional 3,333 shares in the last quarter. 71.95% of the stock is currently owned by institutional investors.

Richardson Electronics Company Profile

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.