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

Richardson Electronics (NASDAQ:RELL) released its quarterly earnings results on Wednesday. The technology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03, FiscalAI reports. The company had revenue of $55.47 million during the quarter, compared to analysts’ expectations of $53.13 million. Richardson Electronics had a net margin of 0.38% and a return on equity of 3.30%.

Richardson Electronics Trading Up 4.9%

Shares of RELL opened at $11.76 on Thursday. Richardson Electronics has a 12 month low of $7.57 and a 12 month high of $15.34. The firm has a fifty day simple moving average of $11.93 and a 200 day simple moving average of $11.11. The stock has a market capitalization of $170.76 million, a price-to-earnings ratio of 235.25, a PEG ratio of 1.75 and a beta of 1.13.

Richardson Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Friday, May 8th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, May 8th. This represents a $0.24 annualized dividend and a yield of 2.0%. Richardson Electronics’s dividend payout ratio is presently 480.00%.

Insider Buying and Selling

In related news, CFO Robert J. Ben sold 5,000 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $11.90, for a total transaction of $59,500.00. Following the completion of the transaction, the chief financial officer owned 57,034 shares in the company, valued at approximately $678,704.60. This represents a 8.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jens Frank Ruppert sold 17,000 shares of the stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $12.09, for a total transaction of $205,530.00. Following the transaction, the executive vice president owned 39,500 shares of the company’s stock, valued at $477,555. The trade was a 30.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 36,000 shares of company stock worth $447,890. 33.40% of the stock is owned by insiders.

Institutional Trading of Richardson Electronics

A number of large investors have recently added to or reduced their stakes in the company. Aristides Capital LLC lifted its stake in Richardson Electronics by 4.7% in the fourth quarter. Aristides Capital LLC now owns 20,940 shares of the technology company’s stock valued at $228,000 after acquiring an additional 940 shares during the last quarter. Nuveen LLC lifted its stake in Richardson Electronics by 9.7% in the fourth quarter. Nuveen LLC now owns 16,970 shares of the technology company’s stock valued at $185,000 after acquiring an additional 1,507 shares during the last quarter. Empowered Funds LLC lifted its stake in Richardson Electronics by 9.0% in the fourth quarter. Empowered Funds LLC now owns 19,142 shares of the technology company’s stock valued at $208,000 after acquiring an additional 1,587 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in Richardson Electronics by 2.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 65,753 shares of the technology company’s stock valued at $715,000 after acquiring an additional 1,587 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Richardson Electronics by 298.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company’s stock valued at $40,000 after acquiring an additional 3,117 shares during the last quarter. Institutional investors and hedge funds own 71.95% of the company’s stock.

Analyst Ratings Changes

RELL has been the subject of several research analyst reports. Northland Securities set a $11.00 price target on shares of Richardson Electronics in a report on Thursday, January 22nd. Weiss Ratings cut shares of Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, January 9th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $11.00.

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.