Richardson Electronics (NASDAQ:RELL) Upgraded at Weiss Ratings

Weiss Ratings upgraded shares of Richardson Electronics (NASDAQ:RELL) from a sell (d+) rating to a hold (c-) rating in a report issued on Saturday morning,Weiss Ratings reports.

Separately, Zacks Research raised Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Richardson Electronics Trading Up 0.8%

Shares of Richardson Electronics stock opened at $10.82 on Friday. Richardson Electronics has a 12-month low of $7.57 and a 12-month high of $15.51. The stock has a market cap of $156.78 million, a PE ratio of 1,083.08, a price-to-earnings-growth ratio of 1.65 and a beta of 0.97. The company has a 50-day moving average of $10.21 and a two-hundred day moving average of $9.64.

Richardson Electronics (NASDAQ:RELL) last issued its earnings results on Wednesday, October 8th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.11. Richardson Electronics had a net margin of 0.08% and a return on equity of 2.91%. The company had revenue of $54.61 million during the quarter, compared to analysts’ expectations of $51.51 million. During the same period last year, the company posted $0.04 earnings per share. On average, sell-side analysts forecast that Richardson Electronics will post 0.27 EPS for the current fiscal year.

Richardson Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 7th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $0.24 annualized dividend and a yield of 2.2%. Richardson Electronics’s dividend payout ratio (DPR) is presently 2,400.00%.

Insiders Place Their Bets

In related news, Director Kenneth Halverson sold 4,200 shares of Richardson Electronics stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $11.33, for a total transaction of $47,586.00. Following the completion of the sale, the director owned 14,345 shares in the company, valued at approximately $162,528.85. This trade represents a 22.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kathleen Mcnally sold 8,417 shares of Richardson Electronics stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $10.01, for a total value of $84,254.17. Following the sale, the executive vice president owned 45,719 shares of the company’s stock, valued at approximately $457,647.19. This represents a 15.55% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,117 shares of company stock valued at $240,615. Corporate insiders own 33.40% of the company’s stock.

Institutional Investors Weigh In On Richardson Electronics

A number of hedge funds and other institutional investors have recently modified their holdings of RELL. First Wilshire Securities Management Inc. grew its holdings in shares of Richardson Electronics by 43.5% during the first quarter. First Wilshire Securities Management Inc. now owns 748,474 shares of the technology company’s stock worth $8,353,000 after buying an additional 227,009 shares in the last quarter. Royce & Associates LP grew its position in shares of Richardson Electronics by 7.7% in the first quarter. Royce & Associates LP now owns 1,344,175 shares of the technology company’s stock valued at $15,001,000 after purchasing an additional 95,899 shares during the period. Strs Ohio purchased a new stake in shares of Richardson Electronics in the first quarter valued at $289,000. Trexquant Investment LP grew its position in shares of Richardson Electronics by 78.2% in the first quarter. Trexquant Investment LP now owns 49,317 shares of the technology company’s stock valued at $550,000 after purchasing an additional 21,646 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Richardson Electronics in the first quarter valued at $239,000. 71.95% of the stock is currently owned by hedge funds and other institutional investors.

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.