Richardson Electronics (NASDAQ:RELL) Posts Earnings Results, Beats Expectations By $0.03 EPS

Richardson Electronics (NASDAQ:RELL) announced its quarterly earnings results on Wednesday. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03, Zacks reports. The business had revenue of $53.80 million during the quarter, compared to the consensus estimate of $56.90 million. Richardson Electronics had a return on equity of 0.42% and a net margin of 0.13%. During the same quarter last year, the firm posted $0.05 EPS.

Richardson Electronics Price Performance

RELL stock opened at $9.79 on Thursday. The company has a 50 day simple moving average of $12.24 and a 200 day simple moving average of $13.17. The stock has a market cap of $141.06 million, a price-to-earnings ratio of 326.44, a P/E/G ratio of 1.98 and a beta of 0.89. Richardson Electronics has a 1 year low of $8.60 and a 1 year high of $15.51.

Insider Activity

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

Analyst Upgrades and Downgrades

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

Richardson Electronics Company Profile

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.