Richardson Electronics (NASDAQ:RELL) Rating Increased to Buy at StockNews.com

by · The Markets Daily

Richardson Electronics (NASDAQ:RELL – Get Free Report) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

A number of other brokerages have also weighed in on RELL. Northland Securities restated a “market perform” rating on shares of Richardson Electronics in a research note on Monday, January 13th. Northland Capmk lowered shares of Richardson Electronics from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th.

Read Our Latest Research Report on RELL

Richardson Electronics Stock Up 0.4 %

NASDAQ:RELL traded up $0.03 on Friday, reaching $8.15. The stock had a trading volume of 163,610 shares, compared to its average volume of 73,135. The company has a market capitalization of $117.43 million, a P/E ratio of 271.76, a price-to-earnings-growth ratio of 1.98 and a beta of 0.89. The stock has a fifty day moving average price of $12.04 and a 200-day moving average price of $13.11. Richardson Electronics has a 1-year low of $7.57 and a 1-year high of $15.51.

Richardson Electronics (NASDAQ:RELL – Get Free Report) last announced its earnings results on Wednesday, April 9th. The technology company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03. Richardson Electronics had a return on equity of 0.42% and a net margin of 0.13%. The business had revenue of $53.80 million for the quarter, compared to the consensus estimate of $56.90 million. During the same period in the previous year, the business earned $0.05 EPS. Sell-side analysts predict that Richardson Electronics will post 0.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Richardson Electronics

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

Institutional Investors Weigh In On Richardson Electronics

Several institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in Richardson Electronics by 300.0% in the third quarter. JPMorgan Chase & Co. now owns 152,082 shares of the technology company’s stock valued at $1,877,000 after acquiring an additional 114,065 shares during the last quarter. Barclays PLC boosted its position 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 last quarter. Rhumbline Advisers boosted its position in shares of Richardson Electronics by 79.0% in the 4th quarter. Rhumbline Advisers now owns 34,396 shares of the technology company’s stock worth $483,000 after purchasing an additional 15,181 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Richardson Electronics by 5.3% during the third quarter. Geode Capital Management LLC now owns 290,605 shares of the technology company’s stock worth $3,586,000 after purchasing an additional 14,727 shares during the period. Finally, State Street Corp increased its holdings in Richardson Electronics by 0.4% in the third quarter. State Street Corp now owns 225,563 shares of the technology company’s stock valued at $2,783,000 after purchasing an additional 914 shares during the last quarter. Institutional investors and hedge funds own 71.95% of the company’s stock.

About Richardson Electronics

(Get Free Report)

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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