Richardson Electronics (NASDAQ:RELL) Announces Earnings Results, Beats Expectations By $0.14 EPS

Richardson Electronics (NASDAQ:RELL) posted its quarterly earnings data on Wednesday. The technology company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.14, FiscalAI reports. The company had revenue of $66.20 million during the quarter, compared to analysts’ expectations of $55.37 million. Richardson Electronics had a return on equity of 2.83% and a net margin of 1.75%.

Richardson Electronics Trading Up 4.8%

Shares of NASDAQ:RELL opened at $18.01 on Thursday. The stock has a 50 day moving average of $17.29 and a 200 day moving average of $14.07. The company has a market cap of $262.23 million, a PE ratio of 66.71, a price-to-earnings-growth ratio of 1.76 and a beta of 1.26. Richardson Electronics has a 12-month low of $9.37 and a 12-month high of $19.86.

Richardson Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Friday, August 7th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, August 7th. Richardson Electronics’s payout ratio is presently 88.89%.

Analysts Set New Price Targets

Several research firms have recently commented on RELL. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Richardson Electronics in a research report on Monday. Northland Securities set a $14.00 target price on shares of Richardson Electronics in a report on Friday, April 10th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Richardson Electronics currently has a consensus rating of “Hold” and a consensus target price of $14.00.

Insider Buying and Selling

In related news, Director Kenneth Halverson sold 10,000 shares of Richardson Electronics stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $14.69, for a total transaction of $146,900.00. Following the transaction, the director owned 14,345 shares in the company, valued at approximately $210,728.05. The trade was a 41.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kathleen Mcnally sold 6,636 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $16.85, for a total value of $111,816.60. Following the completion of the sale, the executive vice president owned 45,719 shares of the company’s stock, valued at $770,365.15. The trade was a 12.68% 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.

Institutional Investors Weigh In On Richardson Electronics

Institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its stake in Richardson Electronics by 7.3% during the first quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company’s stock valued at $950,000 after acquiring an additional 5,802 shares in the last quarter. Jane Street Group LLC purchased a new stake in Richardson Electronics in the 1st quarter worth $198,000. Acadian Asset Management LLC boosted its holdings 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 valued at $928,000 after purchasing an additional 12,097 shares during the last quarter. Rhumbline Advisers grew its position in shares of Richardson Electronics by 50.6% during the second quarter. Rhumbline Advisers now owns 27,019 shares of the technology company’s stock valued at $261,000 after purchasing an additional 9,073 shares in the last quarter. Finally, American Century Companies Inc. grew its position 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 valued at $412,000 after purchasing an additional 15,501 shares in the last quarter. 71.95% of the stock is owned by hedge funds and other institutional investors.

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.