Richardson Electronics (NASDAQ:RELL) Rating Lowered to “Hold” at StockNews.com

Richardson Electronics (NASDAQ:RELL) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Saturday.

Other research analysts have also issued reports about the stock. Northland Securities reissued a “market perform” rating on shares of Richardson Electronics in a report on Monday, January 13th. Northland Capmk cut shares of Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th.

Richardson Electronics Price Performance

Shares of RELL opened at $8.40 on Friday. Richardson Electronics has a 1 year low of $7.57 and a 1 year high of $15.51. The company has a 50 day simple moving average of $11.56 and a two-hundred day simple moving average of $12.98. The firm has a market cap of $121.04 million, a P/E ratio of 280.09, a price-to-earnings-growth ratio of 1.98 and a beta of 0.89.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings data on Wednesday, April 9th. The technology company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The firm had revenue of $53.80 million during the quarter, compared to analyst estimates of $56.90 million. Richardson Electronics had a return on equity of 0.42% and a net margin of 0.13%. During the same quarter last year, the business posted $0.05 earnings per share. On average, sell-side analysts anticipate that Richardson Electronics will post 0.27 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Robert J. Ben sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $13.28, for a total transaction of $33,200.00. Following the transaction, the chief financial officer now owns 54,534 shares of the company’s stock, valued at approximately $724,211.52. This represents a 4.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 32.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Richardson Electronics

Large investors have recently bought and sold shares of the business. Royce & Associates LP boosted its stake in shares of Richardson Electronics by 10.6% during the fourth quarter. Royce & Associates LP now owns 1,248,276 shares of the technology company’s stock valued at $17,513,000 after purchasing an additional 119,685 shares during the period. First Wilshire Securities Management Inc. grew its stake in Richardson Electronics by 36.9% in the 4th quarter. First Wilshire Securities Management Inc. now owns 521,465 shares of the technology company’s stock worth $7,316,000 after acquiring an additional 140,653 shares in the last quarter. Azarias Capital Management L.P. increased its position in shares of Richardson Electronics by 3.9% during the fourth quarter. Azarias Capital Management L.P. now owns 446,496 shares of the technology company’s stock worth $6,264,000 after acquiring an additional 16,843 shares during the period. Geode Capital Management LLC raised its stake in shares of Richardson Electronics by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 293,446 shares of the technology company’s stock valued at $4,118,000 after acquiring an additional 2,841 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of 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 period. Hedge funds and other institutional investors own 71.95% of the company’s stock.

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.