Richardson Electronics (NASDAQ:RELL) Issues Earnings Results

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

Richardson Electronics Price Performance

Shares of NASDAQ RELL traded up $0.14 during mid-day trading on Wednesday, hitting $11.68. 123,938 shares of the company’s stock traded hands, compared to its average volume of 70,156. The company has a market capitalization of $169.24 million, a P/E ratio of 1,169.17, a PEG ratio of 1.71 and a beta of 1.01. Richardson Electronics has a 1 year low of $7.57 and a 1 year high of $13.88. The company’s 50-day moving average is $10.63 and its two-hundred day moving average is $10.26.

Analyst Ratings Changes

RELL has been the topic of several recent research reports. Zacks Research downgraded Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Weiss Ratings raised shares of Richardson Electronics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Saturday, October 25th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Richardson Electronics has an average rating of “Hold”.

Insider Activity

In related news, Director Kenneth Halverson sold 4,200 shares of the business’s stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $11.33, for a total value of $47,586.00. Following the completion of the transaction, the director owned 14,345 shares of the company’s stock, valued at $162,528.85. The trade was a 22.65% 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, CFO Robert J. Ben sold 9,500 shares of Richardson Electronics stock in a transaction dated Tuesday, October 14th. The shares were 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 in the company, valued at $710,289.30. This trade represents a 13.28% decrease in their position. The disclosure for this sale is available in the SEC filing. 33.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Richardson Electronics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Susquehanna International Group LLP lifted its stake in shares of Richardson Electronics by 840.6% in the 3rd quarter. Susquehanna International Group LLP now owns 48,740 shares of the technology company’s stock valued at $477,000 after purchasing an additional 43,558 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Richardson Electronics in the first quarter valued at approximately $198,000. Bridgeway Capital Management LLC increased its stake in Richardson Electronics by 46.5% in the 2nd quarter. Bridgeway Capital Management LLC now owns 49,536 shares of the technology company’s stock valued at $478,000 after buying an additional 15,725 shares during the period. American Century Companies Inc. increased its stake in shares of Richardson Electronics by 57.0% during the second quarter. American Century Companies Inc. now owns 42,673 shares of the technology company’s stock worth $412,000 after acquiring an additional 15,501 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of Richardson Electronics by 17.0% during the 1st quarter. Acadian Asset Management LLC now owns 83,273 shares of the technology company’s stock worth $928,000 after buying an additional 12,097 shares in the last quarter. Hedge funds and other institutional investors own 71.95% of the company’s stock.

About Richardson Electronics

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.