Richardson Electronics (NASDAQ:RELL) Receives Market Perform Rating from Northland Securities

Richardson Electronics (NASDAQ:RELL)‘s stock had its “market perform” rating reaffirmed by analysts at Northland Securities in a research report issued to clients and investors on Monday.

Richardson Electronics Stock Up 1.2 %

RELL stock opened at $13.02 on Monday. Richardson Electronics has a 12 month low of $8.08 and a 12 month high of $15.51. The firm has a market cap of $187.24 million, a P/E ratio of -260.40, a P/E/G ratio of 1.74 and a beta of 0.95. The company’s 50-day moving average price is $14.13 and its two-hundred day moving average price is $12.85.

Richardson Electronics (NASDAQ:RELL) last announced its quarterly earnings results on Tuesday, January 7th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.03). Richardson Electronics had a negative net margin of 0.40% and a negative return on equity of 0.24%. Equities analysts predict that Richardson Electronics will post 0.33 EPS for the current year.

Insider Activity at Richardson Electronics

In other Richardson Electronics news, Director James Benham bought 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were acquired at an average cost of $13.29 per share, for a total transaction of $59,805.00. Following the transaction, the director now directly owns 13,706 shares in the company, valued at approximately $182,152.74. This represents a 48.88 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 32.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RELL. JPMorgan Chase & Co. lifted its position in shares of Richardson Electronics by 300.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 152,082 shares of the technology company’s stock worth $1,877,000 after purchasing an additional 114,065 shares during the period. Royce & Associates LP lifted its position in shares of Richardson Electronics by 8.7% during the 3rd quarter. Royce & Associates LP now owns 1,128,591 shares of the technology company’s stock valued at $13,927,000 after acquiring an additional 90,164 shares during the period. Geode Capital Management LLC lifted its position in shares of Richardson Electronics by 5.3% during the 3rd quarter. Geode Capital Management LLC now owns 290,605 shares of the technology company’s stock valued at $3,586,000 after acquiring an additional 14,727 shares during the period. Barclays PLC lifted its position in shares of Richardson Electronics by 151.0% during the 3rd quarter. Barclays PLC now owns 19,639 shares of the technology company’s stock valued at $242,000 after acquiring an additional 11,815 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Richardson Electronics during the 3rd quarter valued at $134,000. 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.