Richardson Electronics (NASDAQ:RELL) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Richardson Electronics, Ltd. (NASDAQ:RELL)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.26 and traded as high as $11.69. Richardson Electronics shares last traded at $11.54, with a volume of 78,291 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Weiss Ratings raised Richardson Electronics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Saturday, October 25th. Zacks Research downgraded shares of Richardson Electronics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

Richardson Electronics Stock Performance

The stock has a market cap of $167.21 million, a PE ratio of 1,155.16, a price-to-earnings-growth ratio of 1.71 and a beta of 1.01. The firm has a fifty day moving average price of $10.63 and a 200 day moving average price of $10.26.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings data on Wednesday, October 8th. The technology company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.02 by $0.11. The business had revenue of $54.61 million during the quarter, compared to the consensus estimate of $51.51 million. Richardson Electronics had a net margin of 0.08% and a return on equity of 2.91%. During the same period in the previous year, the firm posted $0.04 earnings per share. On average, equities research analysts forecast that Richardson Electronics, Ltd. will post 0.27 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Kenneth Halverson sold 4,200 shares of the company’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $11.33, for a total value of $47,586.00. Following the transaction, the director directly owned 14,345 shares in the company, valued at approximately $162,528.85. This represents a 22.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert J. Ben sold 9,500 shares of the company’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $11.45, for a total transaction of $108,775.00. Following the completion of the transaction, the chief financial officer directly owned 62,034 shares in the company, valued at $710,289.30. The trade was a 13.28% decrease in their position. The SEC filing for this sale provides additional information. 33.40% of the stock is owned by corporate insiders.

Institutional Trading of Richardson Electronics

Hedge funds have recently modified their holdings of the stock. Strs Ohio acquired a new position in Richardson Electronics during the first quarter worth about $289,000. Goldman Sachs Group Inc. raised its holdings in shares of Richardson Electronics by 7.3% in the first quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company’s stock worth $950,000 after acquiring an additional 5,802 shares during the last quarter. Trexquant Investment LP raised its stake in Richardson Electronics by 78.2% in the 1st 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 last quarter. ARS Investment Partners LLC raised its holdings in Richardson Electronics by 11.7% in the 2nd quarter. ARS Investment Partners LLC now owns 50,944 shares of the technology company’s stock valued at $492,000 after acquiring an additional 5,353 shares during the last quarter. Finally, First Wilshire Securities Management Inc. lifted its position in Richardson Electronics by 12.0% during the second quarter. First Wilshire Securities Management Inc. now owns 838,077 shares of the technology company’s stock worth $8,087,000 after buying an additional 89,603 shares during the period. 71.95% of the stock is currently owned by institutional investors and hedge funds.

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.