Richardson Electronics (NASDAQ:RELL) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Richardson Electronics, Ltd. (NASDAQ:RELL)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.00 and traded as high as $13.32. Richardson Electronics shares last traded at $13.30, with a volume of 32,109 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently issued reports on RELL. Northland Capmk lowered Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Northland Securities reaffirmed a “market perform” rating on shares of Richardson Electronics in a report on Monday, January 13th.

Richardson Electronics Trading Up 1.9 %

The business has a 50 day moving average price of $13.82 and a 200 day moving average price of $13.00. The company has a market capitalization of $191.65 million, a P/E ratio of 443.48, a PEG ratio of 1.92 and a beta of 0.93.

Richardson Electronics (NASDAQ:RELL) last released its quarterly earnings results 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 net margin of 0.13% and a return on equity of 0.42%. On average, analysts forecast that Richardson Electronics, Ltd. will post 0.28 EPS for the current fiscal year.

Richardson Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Friday, February 7th will be paid a $0.06 dividend. The ex-dividend date is Friday, February 7th. This represents a $0.24 annualized dividend and a dividend yield of 1.80%. Richardson Electronics’s dividend payout ratio is presently 800.27%.

Hedge Funds Weigh In On Richardson Electronics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Insight Wealth Strategies LLC acquired a new stake in Richardson Electronics during the fourth quarter worth approximately $140,000. XTX Topco Ltd bought a new position in shares of Richardson Electronics in the 3rd quarter valued at $134,000. Ritholtz Wealth Management acquired a new stake in shares of Richardson Electronics in the 4th quarter valued at approximately $172,000. Jane Street Group LLC lifted 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 valued at $192,000 after acquiring an additional 1,182 shares during the last quarter. Finally, Barclays PLC raised its holdings in Richardson Electronics by 151.0% in the 3rd quarter. Barclays PLC now owns 19,639 shares of the technology company’s stock valued at $242,000 after buying an additional 11,815 shares during the last quarter. Institutional investors own 71.95% of the company’s stock.

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.