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

Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.59 and traded as high as $14.25. Richardson Electronics shares last traded at $14.01, with a volume of 202,380 shares changing hands.

Richardson Electronics Stock Up 2.3 %

The company has a market capitalization of $201.48 million, a price-to-earnings ratio of -280.20, a P/E/G ratio of 1.74 and a beta of 0.94. The firm has a 50 day moving average price of $14.07 and a two-hundred day moving average price of $12.60.

Richardson Electronics (NASDAQ:RELL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 9th. The technology company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.05. The company 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 period in the previous year, the business earned $0.09 EPS. Analysts predict that Richardson Electronics, Ltd. will post 0.33 earnings per share for the current year.

Richardson Electronics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 8th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.24 dividend on an annualized basis and a yield of 1.71%. Richardson Electronics's dividend payout ratio (DPR) is -480.00%.

Insiders Place Their Bets

In other news, Director James Benham purchased 4,500 shares of the company's stock in a transaction that occurred 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 transaction, the director now owns 13,706 shares in the company, valued at approximately $182,152.74. The trade was a 48.88 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 32.84% of the stock is owned by company insiders.

Institutional Trading of Richardson Electronics

Institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new position in shares of Richardson Electronics during the third quarter valued at approximately $134,000. Victory Capital Management Inc. grew its stake in Richardson Electronics by 32.1% during the 2nd quarter. Victory Capital Management Inc. now owns 11,636 shares of the technology company's stock worth $138,000 after buying an additional 2,830 shares during the last quarter. Jane Street Group LLC increased its position in Richardson Electronics by 8.2% in the third quarter. Jane Street Group LLC now owns 15,545 shares of the technology company's stock worth $192,000 after buying an additional 1,182 shares during the period. Perritt Capital Management Inc lifted its stake in Richardson Electronics by 240.0% in the second quarter. Perritt Capital Management Inc now owns 17,000 shares of the technology company's stock valued at $202,000 after buying an additional 12,000 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Richardson Electronics by 19.5% during the second quarter. Rhumbline Advisers now owns 17,206 shares of the technology company's stock valued at $205,000 after acquiring an additional 2,803 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.