By otakuyassine3@gmail.com 
Richardson Electronics, Ltd. (NASDAQ:RELL – Get Free Report)’s stock price crossed 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 Price Performance
The company has a market cap of $201.48 million, a P/E ratio of -280.20, a P/E/G ratio of 1.74 and a beta of 0.94. The company’s 50-day moving average is $14.07 and its two-hundred day moving average is $12.60.
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 for the quarter, topping the consensus estimate of ($0.01) by $0.05. Richardson Electronics had a negative return on equity of 0.24% and a negative net margin of 0.40%. The firm had revenue of $53.73 million during the quarter, compared to analysts’ expectations of $49.45 million. During the same quarter in the previous year, the business earned $0.09 earnings per share. Equities research analysts anticipate that Richardson Electronics, Ltd. will post 0.33 EPS for the current year.
Richardson Electronics Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 8th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.24 annualized dividend and a dividend yield of 1.71%. Richardson Electronics’s payout ratio is -480.00%.
Insider Buying and Selling
In other news, Director James Benham acquired 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was bought at an average price of $13.29 per share, with a total value of $59,805.00. Following the completion of the acquisition, the director now directly owns 13,706 shares of the company’s stock, valued at approximately $182,152.74. The trade was a 48.88 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 32.84% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Richardson Electronics
A number of large investors have recently made changes to their positions in RELL. Barclays PLC lifted its stake in shares of Richardson Electronics by 151.0% in the 3rd quarter. Barclays PLC now owns 19,639 shares of the technology company’s stock worth $242,000 after purchasing an additional 11,815 shares during the period. Geode Capital Management LLC increased its holdings in Richardson Electronics by 5.3% during the third quarter. Geode Capital Management LLC now owns 290,605 shares of the technology company’s stock valued at $3,586,000 after buying an additional 14,727 shares during the last quarter. XTX Topco Ltd bought a new position in Richardson Electronics in the third quarter worth approximately $134,000. Jane Street Group LLC increased its stake in shares of Richardson Electronics by 8.2% in the 3rd quarter. Jane Street Group LLC now owns 15,545 shares of the technology company’s stock worth $192,000 after purchasing an additional 1,182 shares in the last quarter. Finally, State Street Corp raised its holdings in Richardson Electronics by 0.4% in the 3rd quarter. State Street Corp now owns 225,563 shares of the technology company’s stock worth $2,783,000 after purchasing an additional 914 shares during the period. 71.95% of the stock is currently owned by institutional investors.
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.
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