Richardson Electronics (NASDAQ:RELL) Coverage Initiated by Analysts at Northland Securities

Northland Securities started coverage on shares of Richardson Electronics (NASDAQ:RELL) in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm issued an outperform rating and a $13.00 price objective on the technology company’s stock.

Separately, StockNews.com downgraded shares of Richardson Electronics from a hold rating to a sell rating in a report on Thursday, January 11th.

Richardson Electronics Stock Up 8.1 %

RELL opened at $10.80 on Monday. Richardson Electronics has a 52-week low of $8.08 and a 52-week high of $19.58. The company has a market cap of $154.22 million, a P/E ratio of 38.57, a price-to-earnings-growth ratio of 7.40 and a beta of 1.01. The firm’s 50-day moving average price is $9.17 and its 200-day moving average price is $10.68.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings data on Thursday, April 11th. The technology company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. Richardson Electronics had a net margin of 1.97% and a return on equity of 1.09%. The firm had revenue of $52.38 million for the quarter, compared to the consensus estimate of $56.00 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. On average, research analysts anticipate that Richardson Electronics will post 0.09 EPS for the current fiscal year.

Richardson Electronics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Friday, May 10th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.24 annualized dividend and a yield of 2.22%. Richardson Electronics’s dividend payout ratio (DPR) is presently 85.71%.

Insider Buying and Selling

In other Richardson Electronics news, Director Paul J. Plante purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were bought at an average price of $9.96 per share, for a total transaction of $49,800.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at $49,800. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Richardson Electronics news, Director Paul J. Plante purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were bought at an average price of $9.96 per share, for a total transaction of $49,800.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at $49,800. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth Halverson purchased 2,500 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was acquired at an average price of $10.05 per share, for a total transaction of $25,125.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at approximately $50,250. The disclosure for this purchase can be found here. 32.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Richardson Electronics

Several hedge funds have recently bought and sold shares of RELL. Redmont Wealth Advisors LLC purchased a new stake in Richardson Electronics in the 3rd quarter worth approximately $524,000. Parthenon LLC purchased a new stake in Richardson Electronics in the 3rd quarter worth approximately $582,000. Victory Capital Management Inc. boosted its position in Richardson Electronics by 30.9% in the 3rd quarter. Victory Capital Management Inc. now owns 100,723 shares of the technology company’s stock worth $1,101,000 after purchasing an additional 23,787 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Richardson Electronics in the 3rd quarter worth approximately $29,000. Finally, Aigen Investment Management LP purchased a new stake in Richardson Electronics in the 3rd quarter worth approximately $169,000. Hedge funds and other institutional investors own 71.95% of the company’s stock.

About Richardson Electronics

Richardson Electronics, Ltd. provides engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and RF, Microwave and power components for semiconductors; and 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.