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

Richardson Electronics, Ltd. (NASDAQ:RELL) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.62 and traded as high as $16.70. Richardson Electronics shares last traded at $16.63, with a volume of 144,304 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RELL. Weiss Ratings raised Richardson Electronics from a “sell (d+)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Northland Securities set a $14.00 price objective on Richardson Electronics in a research note on Friday, April 10th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $14.00.

Richardson Electronics Price Performance

The stock’s 50 day simple moving average is $16.84 and its two-hundred day simple moving average is $13.62. The company has a market capitalization of $242.13 million, a P/E ratio of 61.59, a P/E/G ratio of 1.66 and a beta of 1.26.

Richardson Electronics (NASDAQ:RELL) last released its quarterly earnings results on Wednesday, April 8th. The technology company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. The business had revenue of $55.47 million for the quarter, compared to analysts’ expectations of $53.12 million. Richardson Electronics had a net margin of 1.75% and a return on equity of 2.83%. As a group, equities research analysts expect that Richardson Electronics, Ltd. will post 0.25 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Kenneth Halverson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $14.69, for a total value of $146,900.00. Following the transaction, the director directly owned 14,345 shares in the company, valued at $210,728.05. This represents a 41.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kathleen Mcnally sold 6,636 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $16.85, for a total transaction of $111,816.60. Following the completion of the transaction, the executive vice president directly owned 45,719 shares in the company, valued at approximately $770,365.15. The trade was a 12.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 33.40% of the company’s stock.

Institutional Investors Weigh In On Richardson Electronics

A number of institutional investors have recently made changes to their positions in RELL. Tower Research Capital LLC TRC boosted its holdings 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 during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Richardson Electronics during the 2nd quarter worth about $57,000. Los Angeles Capital Management LLC bought a new stake in shares of Richardson Electronics in the 4th quarter valued at about $91,000. Engineers Gate Manager LP acquired a new stake in shares of Richardson Electronics in the 2nd quarter valued at approximately $103,000. Finally, Deutsche Bank AG raised its position in shares of Richardson Electronics by 150.3% in the 4th quarter. Deutsche Bank AG now owns 11,421 shares of the technology company’s stock valued at $124,000 after acquiring an additional 6,858 shares during the period. 71.95% of the stock is owned by institutional investors and hedge funds.

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.