StockNews.com Downgrades Richardson Electronics (NASDAQ:RELL) to Hold

Richardson Electronics (NASDAQ:RELL) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other analysts also recently issued reports on the company. Northland Securities reiterated a “market perform” rating on shares of Richardson Electronics in a research note on Monday, January 13th. Northland Capmk cut Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th.

Richardson Electronics Stock Performance

Shares of NASDAQ RELL opened at $8.40 on Friday. The stock has a market cap of $121.04 million, a price-to-earnings ratio of 280.09, a PEG ratio of 1.98 and a beta of 0.89. The business has a 50 day simple moving average of $11.56 and a 200 day simple moving average of $12.97. Richardson Electronics has a 52 week low of $7.57 and a 52 week high of $15.51.

Richardson Electronics (NASDAQ:RELL) last announced its quarterly earnings results on Wednesday, April 9th. The technology company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03. Richardson Electronics had a net margin of 0.13% and a return on equity of 0.42%. The company had revenue of $53.80 million for the quarter, compared to analyst estimates of $56.90 million. During the same quarter in the prior year, the business posted $0.05 EPS. On average, analysts predict that Richardson Electronics will post 0.27 EPS for the current year.

Insider Transactions at Richardson Electronics

In related news, CFO Robert J. Ben sold 2,500 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $13.28, for a total transaction of $33,200.00. Following the transaction, the chief financial officer now owns 54,534 shares of the company’s stock, valued at approximately $724,211.52. The trade was a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 32.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Richardson Electronics

Several hedge funds and other institutional investors have recently bought and sold shares of RELL. Ritholtz Wealth Management raised its position in shares of Richardson Electronics by 44.9% during the first quarter. Ritholtz Wealth Management now owns 17,800 shares of the technology company’s stock valued at $199,000 after buying an additional 5,513 shares during the last quarter. Deutsche Bank AG raised its holdings in Richardson Electronics by 62.2% in the 4th quarter. Deutsche Bank AG now owns 10,452 shares of the technology company’s stock valued at $147,000 after acquiring an additional 4,009 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Richardson Electronics by 37.6% in the 4th quarter. Bank of America Corp DE now owns 14,658 shares of the technology company’s stock worth $206,000 after acquiring an additional 4,003 shares during the period. Northern Trust Corp grew its holdings in shares of Richardson Electronics by 1.7% during the 4th quarter. Northern Trust Corp now owns 98,765 shares of the technology company’s stock worth $1,386,000 after purchasing an additional 1,623 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Richardson Electronics by 11.6% during the fourth quarter. Barclays PLC now owns 21,911 shares of the technology company’s stock valued at $307,000 after purchasing an additional 2,272 shares during the period. 71.95% of the stock is currently owned by institutional investors and hedge funds.

About Richardson Electronics

Richardson Electronics, Ltd. engages in the provision of engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and radio frequency (RF), microwave and power components used in semiconductor 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.