Richardson Electronics (NASDAQ:RELL) Issues Quarterly Earnings Results, Hits Expectations

Richardson Electronics (NASDAQ:RELL) issued its quarterly earnings data on Wednesday. The technology company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01), Zacks reports. Richardson Electronics had a return on equity of 2.91% and a net margin of 0.08%.

Richardson Electronics Stock Performance

RELL stock traded up $0.14 on Wednesday, hitting $11.68. 121,849 shares of the company’s stock were exchanged, compared to its average volume of 68,070. The stock has a market cap of $169.24 million, a P/E ratio of 1,169.17, a price-to-earnings-growth ratio of 1.71 and a beta of 1.01. The firm has a 50 day moving average price of $10.63 and a two-hundred day moving average price of $10.26. Richardson Electronics has a 12-month low of $7.57 and a 12-month high of $13.88.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RELL shares. Zacks Research cut shares of Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Weiss Ratings upgraded shares of Richardson Electronics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Saturday, October 25th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Insider Transactions at Richardson Electronics

In related news, CFO Robert J. Ben sold 9,500 shares of the company’s stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $11.45, for a total value of $108,775.00. Following the completion of the transaction, the chief financial officer owned 62,034 shares of the company’s stock, valued at approximately $710,289.30. This represents a 13.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth Halverson sold 4,200 shares of Richardson Electronics stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $11.33, for a total transaction of $47,586.00. Following the completion of the sale, the director directly owned 14,345 shares in the company, valued at $162,528.85. This represents a 22.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 33.40% of the company’s stock.

Institutional Trading of Richardson Electronics

Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its position in Richardson Electronics by 298.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company’s stock worth $40,000 after buying an additional 3,117 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Richardson Electronics in the 2nd quarter valued at approximately $57,000. Engineers Gate Manager LP purchased a new position in Richardson Electronics during the 2nd quarter valued at about $103,000. Jane Street Group LLC acquired a new position in shares of Richardson Electronics in the first quarter valued at approximately $198,000. Finally, Rhumbline Advisers raised its stake in shares of Richardson Electronics by 50.6% in the second quarter. Rhumbline Advisers now owns 27,019 shares of the technology company’s stock valued at $261,000 after acquiring an additional 9,073 shares in the last quarter. Institutional investors and hedge funds own 71.95% of the company’s stock.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. (NASDAQ:RELL) is a global manufacturer, distributor and servicer of engineered components and subsystems for a diverse range of industrial, medical and scientific applications. The company specializes in vacuum electron devices, high-voltage power supplies and related electronic components, offering klystrons, traveling wave tubes, magnetrons, X-ray tubes, microwave amplifiers and power conversion products. Its solutions support customers in power grid management, semiconductor processing, medical imaging, scientific instrumentation and telecommunications.

In addition to its manufacturing capabilities, Richardson Electronics maintains a broad distribution network comprising thousands of standard and custom parts.