Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.90 and traded as high as $14.64. Richardson Electronics shares last traded at $14.45, with a volume of 66,244 shares traded.
Analysts Set New Price Targets
Separately, StockNews.com raised Richardson Electronics from a "sell" rating to a "hold" rating in a research report on Friday, July 26th.
Check Out Our Latest Research Report on RELL
Richardson Electronics Stock Performance
The business has a 50-day moving average price of $12.83 and a 200-day moving average price of $11.90.
Richardson Electronics (NASDAQ:RELL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 9th. The technology company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.05. The business had revenue of $53.73 million for 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 quarter in the prior year, the company earned $0.09 EPS. On average, research analysts forecast that Richardson Electronics, Ltd. will post 0.33 earnings per share for the current fiscal year.
Richardson Electronics Dividend Announcement
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 dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Friday, November 8th. Richardson Electronics's dividend payout ratio (DPR) is currently -480.00%.
Insider Buying and Selling
In related news, Director James Benham acquired 4,500 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The stock was purchased at an average cost of $13.29 per share, for a total transaction of $59,805.00. Following the purchase, the director now directly owns 13,706 shares of the company's stock, valued at $182,152.74. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 32.84% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Richardson Electronics
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RELL. Azarias Capital Management L.P. purchased a new stake in Richardson Electronics in the second quarter valued at about $3,565,000. Royce & Associates LP raised its stake in Richardson Electronics by 8.7% in the third quarter. Royce & Associates LP now owns 1,128,591 shares of the technology company's stock valued at $13,927,000 after buying an additional 90,164 shares during the last quarter. Covestor Ltd raised its stake in Richardson Electronics by 31,565.5% in the first quarter. Covestor Ltd now owns 44,965 shares of the technology company's stock valued at $415,000 after buying an additional 44,823 shares during the last quarter. Ancora Advisors LLC raised its stake in Richardson Electronics by 30.7% in the first quarter. Ancora Advisors LLC now owns 156,632 shares of the technology company's stock valued at $1,443,000 after buying an additional 36,820 shares during the last quarter. Finally, DDD Partners LLC raised its stake in Richardson Electronics by 3.0% in the second quarter. DDD Partners LLC now owns 1,095,668 shares of the technology company's stock valued at $13,027,000 after buying an additional 31,569 shares during the last quarter. 71.95% of the stock is currently owned by hedge funds and other institutional investors.
About Richardson Electronics
(
Get Free Report)
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.
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