StockNews.com Upgrades Richardson Electronics (NASDAQ:RELL) to “Buy”

Richardson Electronics (NASDAQ:RELL) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

RELL has been the topic of a number of other reports. Northland Securities reiterated a “market perform” rating on shares of Richardson Electronics in a research note on Monday, January 13th. Northland Capmk lowered Richardson Electronics from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th.

Richardson Electronics Stock Performance

Shares of NASDAQ RELL traded up $0.03 during mid-day trading on Friday, reaching $8.15. 163,610 shares of the company traded hands, compared to its average volume of 73,135. The company’s fifty day moving average is $12.04 and its two-hundred day moving average is $13.11. Richardson Electronics has a fifty-two week low of $7.57 and a fifty-two week high of $15.51. The stock has a market cap of $117.43 million, a PE ratio of 271.76, a price-to-earnings-growth ratio of 1.98 and a beta of 0.89.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings data on Wednesday, April 9th. The technology company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. Richardson Electronics had a net margin of 0.13% and a return on equity of 0.42%. The business had revenue of $53.80 million during the quarter, compared to analysts’ expectations of $56.90 million. During the same period in the previous year, the company earned $0.05 earnings per share. Research analysts forecast that Richardson Electronics will post 0.27 earnings per share for the current year.

Insider Activity

In other news, CFO Robert J. Ben sold 2,500 shares of Richardson Electronics stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $13.28, for a total transaction of $33,200.00. Following the sale, the chief financial officer now owns 54,534 shares of the company’s stock, valued at approximately $724,211.52. This trade represents a 4.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 32.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On Richardson Electronics

Institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN raised its stake in shares of Richardson Electronics by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 7,213 shares of the technology company’s stock valued at $101,000 after buying an additional 1,572 shares in the last quarter. XTX Topco Ltd acquired a new position in Richardson Electronics in the third quarter worth about $134,000. Insight Wealth Strategies LLC acquired a new position in Richardson Electronics in the fourth quarter worth about $140,000. Deutsche Bank AG lifted its stake in Richardson Electronics by 62.2% during the fourth quarter. Deutsche Bank AG now owns 10,452 shares of the technology company’s stock worth $147,000 after purchasing an additional 4,009 shares during the period. Finally, Ritholtz Wealth Management bought a new stake in shares of Richardson Electronics in the 4th quarter valued at approximately $172,000. Institutional investors and hedge funds own 71.95% of the company’s stock.

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.