Richardson Electronics (NASDAQ:RELL) Posts Earnings Results, Beats Expectations By $0.14 EPS

Richardson Electronics (NASDAQ:RELL) announced its quarterly earnings data on Wednesday. The technology company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.14, FiscalAI reports. Richardson Electronics had a net margin of 1.75% and a return on equity of 2.83%. The firm had revenue of $66.20 million during the quarter, compared to analyst estimates of $55.37 million.

Richardson Electronics Price Performance

Richardson Electronics stock traded up $0.83 during trading hours on Wednesday, reaching $18.01. The stock had a trading volume of 462,588 shares, compared to its average volume of 176,616. The stock has a market cap of $262.23 million, a PE ratio of 66.71, a PEG ratio of 1.70 and a beta of 1.26. Richardson Electronics has a 52 week low of $9.37 and a 52 week high of $19.86. The company has a fifty day simple moving average of $17.26 and a 200-day simple moving average of $14.02.

Analyst Ratings Changes

RELL has been the topic of a number of analyst reports. Northland Securities set a $14.00 target price on shares of Richardson Electronics in a research report on Friday, April 10th. Weiss Ratings restated a “hold (c)” rating on shares of Richardson Electronics in a research report on Monday. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Richardson Electronics presently has an average rating of “Hold” and a consensus target price of $14.00.

Insider Activity

In other news, EVP Kathleen Mcnally sold 6,636 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $16.85, for a total transaction of $111,816.60. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kenneth Halverson sold 10,000 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $14.69, for a total transaction of $146,900.00. Following the sale, the director owned 14,345 shares of the company’s stock, valued at approximately $210,728.05. This represents a 41.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 33.40% of the company’s stock.

Institutional Investors Weigh In On Richardson Electronics

Several institutional investors and hedge funds have recently bought and sold shares of RELL. Goldman Sachs Group Inc. grew its position in shares of Richardson Electronics by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company’s stock worth $950,000 after buying an additional 5,802 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Richardson Electronics during the first quarter valued at approximately $198,000. Acadian Asset Management LLC raised its holdings in shares of Richardson Electronics by 17.0% during the first quarter. Acadian Asset Management LLC now owns 83,273 shares of the technology company’s stock valued at $928,000 after acquiring an additional 12,097 shares in the last quarter. Rhumbline Advisers lifted its stake in Richardson Electronics by 50.6% in the second quarter. Rhumbline Advisers now owns 27,019 shares of the technology company’s stock worth $261,000 after acquiring an additional 9,073 shares during the period. Finally, American Century Companies Inc. lifted its stake in Richardson Electronics by 57.0% in the second quarter. American Century Companies Inc. now owns 42,673 shares of the technology company’s stock worth $412,000 after acquiring an additional 15,501 shares during the period. Hedge funds and other institutional investors 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.