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

Shares of Richardson Electronics, Ltd. (NASDAQ:RELL) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.75 and traded as high as $14.05. Richardson Electronics shares last traded at $13.87, with a volume of 70,015 shares.

Analysts Set New Price Targets

Separately, StockNews.com raised Richardson Electronics from a “sell” rating to a “hold” rating in a report on Friday, July 26th.

Richardson Electronics Stock Performance

The firm has a market capitalization of $199.46 million, a P/E ratio of -277.40, a price-to-earnings-growth ratio of 2.82 and a beta of 0.94. The firm has a 50 day moving average price of $12.56 and a two-hundred day moving average price of $11.75.

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

Richardson Electronics Dividend Announcement

The company 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. This represents a $0.24 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Friday, November 8th. Richardson Electronics’s payout ratio is presently -480.00%.

Insider Transactions at Richardson Electronics

In other Richardson Electronics news, Director James Benham bought 4,500 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were bought at an average price of $13.29 per share, for a total transaction of $59,805.00. Following the completion of the acquisition, the director now owns 13,706 shares of the company’s stock, valued at approximately $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 through this hyperlink. 32.84% of the stock is currently owned by insiders.

Institutional Trading of Richardson Electronics

A number of institutional investors have recently modified their holdings of RELL. Russell Investments Group Ltd. acquired a new stake in shares of Richardson Electronics in the first quarter valued at about $42,000. Perritt Capital Management Inc. bought a new position in Richardson Electronics in the first quarter valued at approximately $46,000. BNP Paribas Financial Markets increased its position in shares of Richardson Electronics by 98.1% during the 1st quarter. BNP Paribas Financial Markets now owns 6,730 shares of the technology company’s stock worth $62,000 after purchasing an additional 3,333 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of 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 purchasing an additional 2,830 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Richardson Electronics in the 1st quarter valued at approximately $109,000. 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.