Richardson Electronics (NASDAQ:RELL) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Richardson Electronics, Ltd. (NASDAQ:RELL)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.16 and traded as high as $13.29. Richardson Electronics shares last traded at $12.97, with a volume of 72,552 shares.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Northland Capmk cut Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Northland Securities reiterated a “market perform” rating on shares of Richardson Electronics in a report on Monday, January 13th.

Richardson Electronics Stock Down 0.4 %

The company has a market capitalization of $186.88 million, a price-to-earnings ratio of 432.48, a P/E/G ratio of 1.98 and a beta of 0.93. The stock’s fifty day moving average price is $13.52 and its 200-day moving average price is $13.16.

Richardson Electronics (NASDAQ:RELL) last released its quarterly earnings data on Tuesday, January 7th. The technology company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). Richardson Electronics had a return on equity of 0.42% and a net margin of 0.13%. Analysts anticipate that Richardson Electronics, Ltd. will post 0.27 EPS for the current year.

Richardson Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Friday, February 7th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Friday, February 7th. Richardson Electronics’s dividend payout ratio is presently 800.00%.

Insider Transactions at Richardson Electronics

In other news, CFO Robert J. Ben sold 2,500 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $13.28, for a total transaction of $33,200.00. Following the sale, the chief financial officer now directly owns 54,534 shares of the company’s stock, valued at approximately $724,211.52. This represents a 4.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 32.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG boosted its position in Richardson Electronics by 62.2% in the fourth quarter. Deutsche Bank AG now owns 10,452 shares of the technology company’s stock valued at $147,000 after buying an additional 4,009 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Richardson Electronics by 37.6% during the fourth quarter. Bank of America Corp DE now owns 14,658 shares of the technology company’s stock valued at $206,000 after purchasing an additional 4,003 shares during the period. Northern Trust Corp lifted its holdings in shares of Richardson Electronics by 1.7% in the 4th quarter. Northern Trust Corp now owns 98,765 shares of the technology company’s stock worth $1,386,000 after purchasing an additional 1,623 shares in the last quarter. Barclays PLC increased its position in shares of Richardson Electronics by 11.6% during the fourth quarter. Barclays PLC now owns 21,911 shares of the technology company’s stock worth $307,000 after acquiring an additional 2,272 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Richardson Electronics during the fourth quarter worth $300,000. 71.95% of the stock is 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.