Richardson Electronics (NASDAQ:RELL) Announces Earnings Results

Richardson Electronics (NASDAQ:RELL) issued its earnings results on Wednesday. The technology company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02, Yahoo Finance reports. Richardson Electronics had a net margin of 1.97% and a return on equity of 1.09%. The company had revenue of $52.38 million for the quarter, compared to the consensus estimate of $56.00 million. During the same period in the previous year, the firm earned $0.44 earnings per share.

Richardson Electronics Price Performance

Shares of RELL stock opened at $10.76 on Friday. The firm’s 50-day moving average is $8.97 and its two-hundred day moving average is $10.75. Richardson Electronics has a 12 month low of $8.08 and a 12 month high of $19.58. The company has a market capitalization of $153.65 million, a PE ratio of 38.43, a price-to-earnings-growth ratio of 3.46 and a beta of 1.01.

Richardson Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Thursday, May 9th. Richardson Electronics’s dividend payout ratio (DPR) is presently 85.71%.

Insider Buying and Selling at Richardson Electronics

In related news, Director Kenneth Halverson purchased 2,500 shares of the company’s stock in a transaction on Monday, January 29th. The stock was acquired at an average cost of $10.06 per share, for a total transaction of $25,150.00. Following the completion of the transaction, the director now directly owns 2,500 shares in the company, valued at $25,150. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 32.50% 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. UBS Group AG grew its holdings in shares of Richardson Electronics by 85.4% in the second quarter. UBS Group AG now owns 1,854 shares of the technology company’s stock valued at $27,000 after purchasing an additional 854 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Richardson Electronics by 48.9% in the first quarter. JPMorgan Chase & Co. now owns 2,553 shares of the technology company’s stock valued at $32,000 after purchasing an additional 839 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Richardson Electronics in the first quarter valued at approximately $40,000. BNP Paribas Arbitrage SNC acquired a new position in shares of Richardson Electronics in the third quarter valued at approximately $44,000. Finally, State of Wyoming acquired a new position in shares of Richardson Electronics in the fourth quarter valued at approximately $51,000. 71.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Richardson Electronics from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. provides engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and RF, Microwave and power components for semiconductors; and 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.