Richardson Electronics, Ltd. (RELL) To Go Ex-Dividend on May 9th

Richardson Electronics, Ltd. (NASDAQ:RELL) declared a quarterly dividend on Tuesday, April 9th, Zacks reports. Shareholders of record on Friday, May 10th will be given a dividend of 0.06 per share by the technology company on Wednesday, May 29th. This represents a $0.24 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Thursday, May 9th.

Richardson Electronics has a dividend payout ratio of 26.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Richardson Electronics to earn $0.45 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 53.3%.

Richardson Electronics Stock Performance

Richardson Electronics stock opened at $10.62 on Tuesday. Richardson Electronics has a 52-week low of $8.08 and a 52-week high of $19.58. The firm has a 50 day moving average price of $9.34 and a two-hundred day moving average price of $10.67. The firm has a market cap of $151.65 million, a price-to-earnings ratio of 37.93, a PEG ratio of 15.94 and a beta of 0.99.

Richardson Electronics (NASDAQ:RELL) last released its quarterly earnings data on Thursday, April 11th. The technology company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. The company had revenue of $52.38 million during the quarter, compared to analyst estimates of $56.00 million. Richardson Electronics had a net margin of 1.97% and a return on equity of 1.09%. During the same quarter in the previous year, the business posted $0.44 EPS. As a group, equities research analysts predict that Richardson Electronics will post 0.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Paul J. Plante acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was purchased at an average price of $9.96 per share, with a total value of $49,800.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at approximately $49,800. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Paul J. Plante acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was purchased at an average price of $9.96 per share, with a total value of $49,800.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at approximately $49,800. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kenneth Halverson acquired 2,500 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were bought at an average cost of $10.05 per share, with a total value of $25,125.00. Following the purchase, the director now owns 5,000 shares of the company’s stock, valued at approximately $50,250. The disclosure for this purchase can be found here. 32.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. StockNews.com downgraded shares of Richardson Electronics from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. Northland Securities started coverage on shares of Richardson Electronics in a report on Monday, April 29th. They set an “outperform” rating and a $13.00 price objective on the stock.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. provides engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and RF, Microwave and power components for semiconductors; and 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.