Richardson Electronics (NASDAQ:RELL) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Richardson Electronics, Ltd. (NASDAQ:RELL)’s stock price 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 changing hands.

Wall Street Analyst Weigh In

A number of analysts recently commented on RELL shares. Northland Securities set a $14.00 price objective on shares of Richardson Electronics in a research report on Friday, April 10th. Weiss Ratings upgraded Richardson Electronics from a “sell (d+)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Richardson Electronics presently has a consensus rating of “Hold” and a consensus target price of $14.00.

Richardson Electronics Stock Up 3.0%

The firm has a market capitalization of $242.13 million, a price-to-earnings ratio of 61.59, a price-to-earnings-growth ratio of 1.66 and a beta of 1.26. The business’s fifty day moving average is $16.84 and its 200 day moving average is $13.62.

Richardson Electronics (NASDAQ:RELL) last announced its earnings results on Wednesday, April 8th. The technology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $55.47 million during the quarter, compared to analyst estimates of $53.12 million. Richardson Electronics had a net margin of 1.75% and a return on equity of 2.83%. Equities research analysts expect that Richardson Electronics, Ltd. will post 0.25 EPS for the current year.

Insider Transactions at Richardson Electronics

In other news, EVP Kathleen Mcnally sold 6,636 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $16.85, for a total value of $111,816.60. Following the sale, the executive vice president directly owned 45,719 shares in the company, valued at $770,365.15. The trade was a 12.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kenneth Halverson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was 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 of the company’s stock, valued at $210,728.05. This represents a 41.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 33.40% of the company’s stock.

Hedge Funds Weigh In On Richardson Electronics

A number of large investors have recently bought and sold shares of RELL. Tower Research Capital LLC TRC boosted its position in Richardson Electronics by 298.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company’s stock worth $40,000 after acquiring an additional 3,117 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Richardson Electronics in the second quarter valued at approximately $57,000. Los Angeles Capital Management LLC acquired a new stake in shares of Richardson Electronics in the fourth quarter valued at approximately $91,000. Engineers Gate Manager LP bought a new stake in shares of Richardson Electronics in the second quarter worth $103,000. Finally, Deutsche Bank AG lifted its position in shares of Richardson Electronics by 150.3% in the fourth quarter. Deutsche Bank AG now owns 11,421 shares of the technology company’s stock worth $124,000 after purchasing an additional 6,858 shares in the last quarter. Institutional investors and hedge funds own 71.95% of the company’s stock.

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.