Richardson Electronics (NASDAQ:RELL) Shares Cross Above 200 Day Moving Average - Should You Sell?
Richardson Electronics (NASDAQ:RELL) shares crossed above their 200-day moving average of $9.69, trading as high as $11.03 before closing at $10.84. Analysts have upgraded the stock's rating, with Weiss Ratings moving it from "sell" to "hold" and Zacks from "hold" to "strong-buy." The company reported a quarterly EPS of $0.13, exceeding estimates, and announced a dividend of $0.06 per share. Insider selling activity was noted, with directors reducing their stakes. Institutional investors have also adjusted their holdings in the company recently.
Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.69 and traded as high as $11.03. Richardson Electronics shares last traded at $10.84, with a volume of 51,862 shares trading hands.
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Analysts Set New Price Targets
- Micro-Cap Richardson Electronics Pulls Back Into A Buy
A number of equities analysts have recently commented on RELL shares. Weiss Ratings raised shares of Richardson Electronics from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Saturday, October 25th. Zacks Research raised shares of Richardson Electronics from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".
View Our Latest Report on RELL
Richardson Electronics Stock Performance
- Richardson Electronics Ups The Voltage On Growth
The company's 50 day moving average price is $10.28 and its 200 day moving average price is $9.69. The company has a market cap of $157.07 million, a price-to-earnings ratio of 1,085.09, a P/E/G ratio of 1.67 and a beta of 0.97.
Richardson Electronics (NASDAQ:RELL - Get Free Report) last issued its earnings results on Wednesday, October 8th. The technology company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.02 by $0.11. Richardson Electronics had a net margin of 0.08% and a return on equity of 2.91%. The company had revenue of $54.61 million for the quarter, compared to the consensus estimate of $51.51 million. During the same quarter in the previous year, the company earned $0.04 EPS. As a group, analysts predict that Richardson Electronics, Ltd. will post 0.27 EPS for the current year.
Richardson Electronics Announces Dividend
- Small-Cap Richardson Electronics Electrifies The Market
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Friday, November 7th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, November 7th. Richardson Electronics's payout ratio is currently 2,400.00%.
Insider Activity at Richardson Electronics
In related news, Director Kenneth Halverson sold 4,200 shares of the firm's stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $11.33, for a total transaction of $47,586.00. Following the completion of the sale, the director directly owned 14,345 shares of the company's stock, valued at $162,528.85. This trade represents a 22.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kathleen Mcnally sold 8,417 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $10.01, for a total value of $84,254.17. Following the sale, the executive vice president directly owned 45,719 shares of the company's stock, valued at $457,647.19. This represents a 15.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 22,117 shares of company stock valued at $240,615 in the last three months. Corporate insiders own 33.40% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royce & Associates LP lifted its position in Richardson Electronics by 7.7% during the 1st quarter. Royce & Associates LP now owns 1,344,175 shares of the technology company's stock worth $15,001,000 after buying an additional 95,899 shares in the last quarter. First Wilshire Securities Management Inc. lifted its position in shares of Richardson Electronics by 12.0% during the second quarter. First Wilshire Securities Management Inc. now owns 838,077 shares of the technology company's stock worth $8,087,000 after purchasing an additional 89,603 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Richardson Electronics by 7.3% during the first quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company's stock worth $950,000 after purchasing an additional 5,802 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Richardson Electronics by 17.0% during the first quarter. Acadian Asset Management LLC now owns 83,273 shares of the technology company's stock worth $928,000 after purchasing an additional 12,097 shares in the last quarter. Finally, AMH Equity Ltd acquired a new position in shares of Richardson Electronics during the third quarter worth approximately $783,000. Institutional investors and hedge funds own 71.95% of the company's stock.
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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