Richardson Electronics (NASDAQ:RELL) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Richardson Electronics (NASDAQ:RELL) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

RELL has been the topic of several other reports. Northland Securities reaffirmed a “market perform” rating on shares of Richardson Electronics in a research report on Monday, January 13th. Northland Capmk cut Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th.

Richardson Electronics Trading Down 0.6 %

Shares of Richardson Electronics stock opened at $8.40 on Friday. The company has a market cap of $121.04 million, a P/E ratio of 280.09, a P/E/G ratio of 1.98 and a beta of 0.89. Richardson Electronics has a 1 year low of $7.57 and a 1 year high of $15.51. The stock has a 50-day moving average price of $11.56 and a 200 day moving average price of $12.98.

Richardson Electronics (NASDAQ:RELL) last announced its quarterly earnings data on Wednesday, April 9th. The technology company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. Richardson Electronics had a net margin of 0.13% and a return on equity of 0.42%. The firm had revenue of $53.80 million for the quarter, compared to the consensus estimate of $56.90 million. During the same period in the previous year, the firm posted $0.05 earnings per share. On average, equities analysts forecast that Richardson Electronics will post 0.27 earnings per share for the current fiscal year.

Richardson Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, May 9th. This represents a $0.24 annualized dividend and a yield of 2.86%. Richardson Electronics’s dividend payout ratio (DPR) is currently -141.18%.

Insider Transactions at Richardson Electronics

In related news, CFO Robert J. Ben sold 2,500 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $13.28, for a total transaction of $33,200.00. Following the completion of the sale, the chief financial officer now directly owns 54,534 shares of the company’s stock, valued at approximately $724,211.52. This represents a 4.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 32.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Richardson Electronics

A number of hedge funds have recently bought and sold shares of the company. First Wilshire Securities Management Inc. lifted its position in shares of Richardson Electronics by 36.9% during the 4th quarter. First Wilshire Securities Management Inc. now owns 521,465 shares of the technology company’s stock worth $7,316,000 after purchasing an additional 140,653 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of Richardson Electronics by 10.6% during the fourth quarter. Royce & Associates LP now owns 1,248,276 shares of the technology company’s stock worth $17,513,000 after buying an additional 119,685 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Richardson Electronics by 300.0% in the third quarter. JPMorgan Chase & Co. now owns 152,082 shares of the technology company’s stock valued at $1,877,000 after acquiring an additional 114,065 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in shares of Richardson Electronics in the fourth quarter worth $312,000. Finally, Raymond James Financial Inc. bought a new position in Richardson Electronics during the fourth quarter worth $300,000. 71.95% of the stock is currently owned by institutional investors.

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.