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

Richardson Electronics, Ltd. (NASDAQ:RELL)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $13.62 and traded as high as $16.70. Richardson Electronics shares last traded at $16.63, with a volume of 144,304 shares trading hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on RELL. Weiss Ratings upgraded shares of Richardson Electronics from a “sell (d+)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Northland Securities set a $14.00 price objective on Richardson Electronics in a research report on Friday, April 10th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.00.

Richardson Electronics Trading Up 1.1%

The firm’s 50-day moving average is $16.97 and its 200 day moving average is $13.69. The firm has a market capitalization of $250.72 million, a price-to-earnings ratio of 63.78, a P/E/G ratio of 1.75 and a beta of 1.26.

Richardson Electronics (NASDAQ:RELL) last announced its quarterly earnings results on Wednesday, April 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. The firm had revenue of $55.47 million during the quarter, compared to analysts’ expectations of $53.12 million. Richardson Electronics had a net margin of 1.75% and a return on equity of 2.83%. Analysts predict that Richardson Electronics, Ltd. will post 0.25 EPS for the current year.

Insider Buying and Selling at Richardson Electronics

In related news, Director Kenneth Halverson sold 10,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $14.69, for a total value of $146,900.00. Following the completion of the sale, the director directly owned 14,345 shares in the company, valued at $210,728.05. This represents a 41.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kathleen Mcnally sold 6,636 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $16.85, for a total value of $111,816.60. Following the transaction, the executive vice president directly owned 45,719 shares of the company’s stock, valued at approximately $770,365.15. This represents a 12.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 33.40% of the company’s stock.

Hedge Funds Weigh In On Richardson Electronics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its position in Richardson Electronics by 298.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company’s stock valued at $40,000 after purchasing an additional 3,117 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Richardson Electronics in the 2nd quarter worth approximately $57,000. Los Angeles Capital Management LLC bought a new stake in shares of Richardson Electronics in the 4th quarter valued at $91,000. Engineers Gate Manager LP bought a new stake in shares of Richardson Electronics in the 2nd quarter valued at $103,000. Finally, Deutsche Bank AG boosted its stake in shares of Richardson Electronics by 150.3% in the 4th quarter. Deutsche Bank AG now owns 11,421 shares of the technology company’s stock valued at $124,000 after purchasing an additional 6,858 shares during the last quarter. 71.95% of the stock is 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.