Richardson Electronics (NASDAQ:RELL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Richardson Electronics (NASDAQ:RELL) from a hold rating to a buy rating in a report published on Saturday.

RELL has been the subject of several other research reports. Zacks Research raised Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Northland Securities upgraded shares of Richardson Electronics from a “market perform” rating to an “outperform” rating and increased their target price for the company from $14.00 to $24.00 in a research report on Tuesday, July 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Richardson Electronics in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Richardson Electronics has a consensus rating of “Buy” and a consensus target price of $24.00.

Richardson Electronics Trading Down 3.7%

RELL stock opened at $19.89 on Friday. The firm has a market cap of $292.18 million, a P/E ratio of 45.21, a P/E/G ratio of 1.64 and a beta of 1.28. Richardson Electronics has a 12-month low of $9.37 and a 12-month high of $23.15. The stock’s 50 day simple moving average is $17.92 and its 200 day simple moving average is $14.87.

Richardson Electronics (NASDAQ:RELL) last released its quarterly earnings data on Wednesday, July 22nd. The technology company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.14. The firm had revenue of $66.20 million for the quarter, compared to analyst estimates of $55.37 million. Richardson Electronics had a net margin of 2.79% and a return on equity of 3.55%. On average, research analysts forecast that Richardson Electronics will post 0.5 EPS for the current fiscal year.

Richardson Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Friday, August 7th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, August 7th. Richardson Electronics’s payout ratio is presently 54.55%.

Insider Buying and Selling at Richardson Electronics

In other news, Director Paul J. Plante sold 17,000 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $18.81, for a total transaction of $319,770.00. Following the completion of the sale, the director owned 14,188 shares in the company, valued at approximately $266,876.28. This represents a 54.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert J. Ben sold 9,000 shares of Richardson Electronics stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $21.61, for a total value of $194,490.00. Following the completion of the transaction, the chief financial officer owned 60,534 shares in the company, valued at $1,308,139.74. The trade was a 12.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 135,701 shares of company stock valued at $2,596,497. Corporate insiders own 33.40% of the company’s stock.

Hedge Funds Weigh In On Richardson Electronics

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Richardson Electronics in the second quarter worth about $18,874,000. AIGH Capital Management LLC purchased a new position in shares of Richardson Electronics in the second quarter worth approximately $3,810,000. Bank of New York Mellon Corp acquired a new stake in shares of Richardson Electronics during the second quarter valued at approximately $1,995,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Richardson Electronics during the first quarter valued at approximately $1,095,000. Finally, First Wilshire Securities Management Inc. lifted its position in shares of Richardson Electronics by 13.9% in the 1st quarter. First Wilshire Securities Management Inc. now owns 671,998 shares of the technology company’s stock valued at $7,358,000 after acquiring an additional 82,054 shares in the last quarter. Institutional investors and hedge funds own 71.95% of the company’s stock.

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.